For Youth and Parents

Whether you’re welcoming a newborn or your child is preparing for college, we have youth accounts that grow with your child to help set them on the path to financial success.
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Children under age 18 qualify for 2.00%1 Annual Percentage Yield (APY) on savings account balances of up to $500.
Free Checking & Savings

We’ll never nickel and dime you. We don’t charge maintenance fees for checking and savings accounts or mobile and online banking services.

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Wealth of Knowledge

We have tools, tips, and resources to help your child understand basic financial skills of everyday life, like banking, budgeting, and investing.

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Money That Grows with Them

From youth accounts and money markets to long-term savings options, we have a variety of savings opportunities and special savings rates that grow with your child.

Choose the savings that work for you

Youth Accounts for Every Age

As they grow, teach them how to manage their money and supervise the progress with a youth savings account. PSECU has several options for youth depending on their age: a custodial account, which is required for children under age 13, but also permitted for youth age 13 and over; or a regular account for teens over age 13. Both types of youth accounts require a minimum $5 balance.

Custodial Account

Parents, guardians, grandparents, or other family members can make an irrevocable financial gift to a child and open a savings account on their behalf. Custodial accounts can remain open until the child turns 21.

Features and Benefits:

  • Special youth savings rate: Children under age 18 qualify for a 2.00%1 Annual Percentage Yield (APY) on savings account balances of up to $500.
  • No opening or monthly maintenance fees: Your child’s savings won’t be eaten up by fees.
  • Adult control: The account custodian (family member or guardian) is the only one who can make deposits, withdrawals, write checks, or access the account through digital banking.

Regular Savings Account

Teenagers aged 13 and over can open their own regular account. An adult is not required to open the regular account but may serve as a joint owner to help monitor and guide financial decisions. If an adult joins the account, there is no requirement for them to be removed when the child reaches age 18. Both the youth and joint owners are eligible for PSECU debit cards in their own names.

Features and Benefits:

  • Special youth savings rate: Children under age 18 qualify for  2.00% Annual Percentage Yield (APY) on savings account balances of up to $500.
  • No opening or monthly maintenance fees: Your teen’s savings won’t be eaten up by fees.
  • Independent access: Your teen can independently manage their accounts, make deposits, transfer funds, and more through digital banking.

Current Rates

Valid as of 09/28/2023 10:38 PM EDT 
Description APY* Dividend Rate
Youth Savings (Balances of $.01 to $500.00) 2.00% 1.98%
Youth Savings (Balances of $500.01 and over) 0.50% 0.50%

Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Regular shares require a minimum balance of $5 to open the account. Youth Savings Accounts will earn a higher APY for balances of $.01 to $500.00. For balances of $500.01 and over, the Regular Savings Share APY will apply.

View Truth in Savings Account disclosure.

*APY denotes Annual Percentage Yield.

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Planning for College

Anytime, Anywhere Banking

As students head off to college, and beyond graduation, our digital banking tools makes it easy to manage their money, no matter where they go.

Learn More About Student Banking

PSECU Scholarships

Each year, PSECU awards six scholarships to graduating high school seniors to help reduce the cost of post-secondary education. If college is on the horizon, students could win a scholarship worth up to $8,000 over the course of four years.

Learn More About Our Scholarships

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1To be eligible for the Youth Savings rate, the primary account owner must be under the age of 18. All eligible Youth Savings Share accounts earn 2.00% APY for balances of $.01 to $500.00. For balances of $500.01 and over, the Regular Savings Share APY will apply. Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Find our current dividend rates at psecu.com/rates. PSECU requires a $5 minimum balance to open and maintain a Regular share account. This $5 share account deposit is also required to be eligible to receive the Youth Savings rate, and the member must be in good standing as defined by PSECU's Bylaws, Article II, Section I. PSECU will make a $5 minimum share purchase on behalf of the member.

IRAs and loans may not be assigned to Custodial Accounts (exception: Educational IRAs are permitted). PSECU may not use the account to offset any outstanding balance of the donor or custodian.

Custodial Accounts conform to Pennsylvania's Uniform Transfers to Minors Act — for questions about these accounts, refer to PSECU's agreements and disclosures and consult an attorney.