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Money That Grows with Them
New and totally on us*! The Greenlight Debit Card for Kids and Teens
Greenlight is a loved, trusted banking app and debit card (issued by Community Federal Savings Bank, Member FDIC) for kids and teens. In addition to our great youth accounts, we are now partnering with Greenlight to teach kids about money management and the power of saving. Parents set flexible controls and get real-time notifications of their kids’ money activity. The Greenlight app is the cool, hands-on way to teach kids how to earn, spend, and save wisely that parents and guardians will love to use.
Free* subscription for the whole family with PSECU membership.
*PSECU members are eligible for the Greenlight SELECT plan at no cost when they connect their NCUA-insured PSECU checking account as the Greenlight funding source for the entirety of the promotion. PSECU debit cards are not eligible for this promotion. Upgrades will result in additional fees. Plans start at $4.99/mo. This Promotion is subject to change without notice and may end at any time. Starting with the next month after termination of the promotion, Greenlight customers will be responsible for associated monthly fees. See terms for details. Offer subject to change.
Open a youth savings account with PSECU by April 30 and we’ll match your first deposit up to $251 when you meet promo requirements! Plus, children under age 18 can qualify for a special 4.00% APY2 youth savings rate.
Don’t miss your chance to sketch a path for your child’s savings.
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:
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Children under age 18 qualify for a 4.00% ¹ Annual Percentage Yield (APY) on savings account balances of up to $500.
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Your child’s savings won’t be eaten up by fees.
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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 age 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:
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Children under age 18 qualify for a 4.00% ¹ Annual Percentage Yield (APY) on savings account balances of up to $500.
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Your teen’s savings won’t be eaten up by fees.
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Your teen can independently manage their accounts, make deposits, transfer funds, and more through digital banking.
Description | APY* | Dividend Rate | |
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Youth Savings (Balances of $.01 to $500.00) | 4.00% | 3.93% | |
Youth Savings (Balances of $500.01 and over) | 0.50% | 0.50% |
Planning for College
As students head off to college, and beyond graduation, our digital banking tools make it easy to manage their money, no matter where they go.
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.
Our digital banking options let international students manage their money at their convenience - anytime, anywhere. To join PSECU, international students will need varying identification documents, depending on their residency status.
Achieve More with PSECU
More gimmes + less gotchas = modern digital banking. Become a member today, and let your money live in the 21st century.
1From 4.1.24 to 4.30.24, PSECU is running a new youth account bonus. To receive the bonus, a deposit, match up to $25, members must open a new youth account with promotional code Youth and satisfy the requirements listed below. “Youth account” is defined as an account where the adult and youth are joint owners on an account or a custodial account opened by an adult for the youth. All youth accounts must be opened and funded with promotional code Youth by 04.30.2024 at 11:59 pm to be eligible. PSECU will deposit member incentive bonus into the Regular savings share within 45 days after requirements are satisfied. PSECU will match only the first deposit made into the Regular savings share up to $25 after account opening (does not include initial $5 deposit at account opening). Deposits to other shares such as checking or additional savings shares will not qualify for this bonus offer. Promotion open to U.S. Residents who are 18 years of age or older at the time the adult opens either a joint account with a youth or a custodial account for a youth. Limit one (1) new youth account bonus per child, per tax identification number used to open a new PSECU youth account. Joint owners listed on accounts are not eligible to be rewarded for this bonus. You will not be eligible for the youth account bonus offer if you are a current PSECU member who is a joint owner with the youth or already has a custodial account for the youth, have closed a youth account within the past 12 months, or have received any new member incentive bonus for a youth account within the past 12 months. Members who open accounts and/or loans by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information, are not eligible to participate in this bonus offer. PSECU may adjust the deposited bonus or remove the deposited bonus at any time if PSECU suspects accounts and/or loans were opened by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information. $5 is required to open and maintain a Regular share account. This $5 share deposit is also required to be eligible to receive the bonus, and the member must be in good standing, at the time of payout, as defined by PSECU's Bylaws Article II, Section 1. A $5 minimum share purchase will be made on behalf of the new member by PSECU. If the member account is closed within the first year of membership, the initial $5 share will be retained by PSECU. The Annual Percentage Yield on PSECU's Youth Savings is 4.00% on balances of $0.01 to $500.00 and 0.50% on balances of $501.00 and greater. This variable rate is current as of 02.01.2023 and may change. Withdrawals and fees may reduce earnings on the account. If you have any questions, please seek the advice of a qualified tax professional. All decisions of PSECU regarding this promotion are final. PSECU may terminate or change the terms and conditions of this promotion without notice. Subject to all applicable federal, state, and local laws and regulations.
2APY denotes Annual Percentage Yield. To be eligible for the Youth Savings rate, the primary account owner must be under 18. All eligible Youth Savings Share accounts earn 4.00% 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.
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 4.00% 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.