Youth Savings Account Options Foster Smart Money Habits

We’re proud to help our younger members start building a foundation to live their best financial life. 

Help Your Child Get Money Smart (Birth through 12)

Teaching kids about money is easier when they have their own LCFCU Child Account. With a minimum $5 deposit, they’ll get access to:

• Share Savings Account
• Other special savings accounts
• Custodial Accounts

Set Your Teen on a Path to Financial Wellness (13 through 21)

Help a young person in your life learn financial responsibility with our Young Adult Account. They’ll get access to products and services to help prepare them for a lifetime of successful financial management.*

• Personal Visa Debit Card is available to members as young as 16 and 17 with a parent or guardian as joint owner and/or those age 18 and older.
• Personal and vehicle loans
• Fixed-rate, no annual fee Visa Credit Card
• Free money orders

Jumpstart Their Savings with a Custodial Account

Whether it’s their weekly allowance, first deposits toward college or their first paycheck, a Custodial Account could help younger members start a lifetime of good financial habits. These accounts are opened under the terms of the D.C. Uniform Transfer to Minors Act. Only the custodian may withdraw funds.

• A parent or legal guardian may open an account for a minor under 18 years old as an irrevocable gift to a minor by providing the child’s social security number or taxpayer identification number.

• Once the child reaches majority age, it is the responsibility of the custodian to close the account and transfer funds to the child.

Featured Products and Services

Let’s Do the Math

*Age restrictions may apply for some services. Minimum deposit of $5 in a Young Adult Account Savings account is required to establish membership in LCFCU.