Youth Savings Account

Start Them Young

At Peoples Advantage, we believe kids can be terrific savers if they have the right tools, and we are here to help them start their savings nest. We offer a Youth Saving Account, known as KATS (Kids Are Terrific Savers), designed for kids under 18 years-old. We want to empower our youth through financial education to become good at savings their money and be rewarded for doing so by earning dividends.

This kid-friendly account only requires a $5 deposit to open and does not have any minimum balance requirements. Our youth savings account can also easily be connected to a mobile and online banking account, so together the parent and child can watch their savings grow. And the best part is there are no monthly service fees.

Want to save more?

Peoples Advantage also offers a special youth share certificate known as the KATS Certificate.

The youth share certificate account only requires a $100 minimum opening deposit instead of the $500 minimum for our traditional share certificate.
We want to empower kids to learn how to invest and build their own savings nest and accounts and teach youth the importance of saving money at an early age. Just like a traditional share certificate, the youth share certificate account pays an even higher savings rate than our regular youth savings accounts.
Once the child reaches 14-years-old, they can also open a checking account, and Peoples Advantage offers financial education for children, so they are financially empowered by the time they reach adulthood.

Youth accounts are safe and secure because they are federally insured funds with the National Credit Union Administration (NCUA) up to $250,000.

To open either type of youth savings account, there are a few things we need:

A parent or guardian’s valid photo ID
The parent or guardian’s social security card
The child’s social security card
$5 initial deposit

Here are the membership perks of youth savings accounts:

Free financial education
Free access to Mobile and Online Banking*
Earn higher rates

CDFI (Community Development Financial Institution):

We're proud to be a Community Development Financial Institution (CDFI) credit union with a holistic approach to banking and lending. Our mission is to be THE resource that strengthens and rebuilds our communities by empowering our members to achieve their financial dreams. We go beyond traditional lending criteria, prioritizing our relationship with each member. Being a CDFI means we offer more than just products and financial literacy—we provide personalized solutions and support to help you thrive. Experience the difference at Peoples Advantage FCU and achieve your financial dreams. As a CDFI, we are committed to providing financial services that support savings and lending for individuals in areas with limited access to adequate banking options. Managing finances is simple with the right tools and resources we offer.

Youth Savings Account

CDFI (Community Development Financial Institution):

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