Youth Savings Accounts Put Your Child on the Road to Financial Success
It’s never too early to make — and meet — savings goals. Helping your child understand the importance of conscientious money management now sets them up for success as they grow.
Youth savings accounts from Sunrise Banks are available to anyone under the age of 18.
Once your child reaches the age of 18, their account automatically converts to a Thrift Savings Account, making the adjustment to adult banking as streamlined and straightforward as possible.
Why should I come to Sunrise Banks for a youth savings account?
We’re trusted by our community to provide solutions that offer children a chance to learn the value of savings early on. Our savings accounts help to:
Teach practical life skills. Children learn how to deposit checks, interact with online banking, withdraw cash, use coin machines, and other related skills through ownership of a savings account.
Make banks less intimidating once your kids are adults. Developing a relationship with banking early on allows them to develop confidence while interacting with financial institutions in the future.
Show the power of financial planning. There are few things that feel as good as the first time you save up enough allowance to buy the toy you’ve been coveting. By associating the act of saving money with the triumph of reaching a goal, you’re teaching your kids to associate savings with feeling good.
What features come with Sunrise Banks’ youth savings accounts?
Not all savings accounts are set up the same. Youth savings accounts from Sunrise Banks focus on easy set-up and flexible use. Features include:
- $20 minimum balance to open
- No monthly maintenance fees
- No minimum balance required to maintain
- No charge for quarterly paper statements
- Free eStatements and access to online banking
- Variable interest rates paid monthly based on daily balance
Impact Deposit Fund
The Impact Deposit Fund (IDF) teaches the positive impact our money can make on our communities, even when we’re young.LEARN MORE
The Youth Savings Account will convert to a Thrift Savings Account at the age of 18.
Federal regulations allow six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party. $1 per withdrawal over six.