Youth Accounts
Sign your kids up for a youth account with Velocity Community Credit Union and help them get a head start on their financial journey.
FLEX Teen Accounts – ages 13-17
FLEX Teen Accounts are designed for building key life skills such as managing finances while you are still at home and can get advice from your parents (and your Credit Union!).
- Youth Checking Accounts – include a Visa Debit Card that can earn cashback1, just like the adult accounts (qualifications apply)!
- Youth Certificates – with special terms just for youth under 18 years of age!
- Secured Visa Credit Card to start building credit. It’s easy to switch to a regular card once you are older.
Sandy Savers Club Accounts – ages 12 and under
The Sandy Savers Club has savings options, club activities, and Sand Dollars for prizes. It’s only for kids 12 and under, so no adults allowed!
Sand Dollars – Save Money and Earn Rewards!
For every $5 you deposit into your youth account, Velocity Community Credit Union will give you 1 Sand Dollar. (There is a limit of 10 Sand Dollar per day.) Save your Sand Dollars and use them to buy fun prizes.
- Youth Certificates – with special terms just for youth under 18 years of age!
- Coverdell Education Savings Accounts
Make the Grade…and We’ll Pay $25
Make the Grade…and get paid! Beginning June 1st, bring us your report card for the full school year and we will deposit $25* into your Velocity Community account for “Making the Grade!” To qualify, Elementary students will need all “PRs” or better, and Middle through 4 years of college** (full time, 12 credit hours/semester) must have a 3.0 or better.*** Just bring it to one of the tellers, and we’ll deposit the money into your account. Hurry in, because you only have until September 1st.
**For college students, completion of twelve (12) credit hours per semester will be considered full-time.
***Report cards or equivalent reports must be received at the Credit Union no later than September 1st for you to receive $25.00 for the school year just completed.
Coverdell Education Savings Accounts
CESAs allow you to save money for your child’s education on a tax-favored basis. Distributions used to pay for certain qualified education expenses are federal income tax-free and penalty tax-free.
Anyone can make contributions to a child’s CESA (including parents, grandparents, godparents, corporations, etc.), though they may be limited by their modified adjusted gross income (MAGI). The contribution is not tax-deductible.
General Information:
- No annual fee
- No maintenance fee
- Both Savings and Certificate accounts available
- April 15th is typically the last day to make contributions for the prior tax year
- Insured by NCUA up to $250,000
Teaching Your Kids About Saving?
Take a look at our Youth Certificates! Same great rates on 6-month and 12-month terms as our regular member certificates, but with a lower minimum required balance.
Our Youth Accounts Are Getting a New Look!
What is changing?
We’re introducing new names for our youth programs. Members ages 0 to 12 will now be part of the Sandy Savers Club, and members ages 13 to 17 will be part of Flex.
Are my child’s accounts changing?
No. This is a branding update only. Existing accounts, features, and benefits remain the same.
What do I do with our Bucks and birthday coupons?
We will continue to accept them as if they were the new Sand Dollars and birthday coupons.
Do I need to do anything to my account?
No action is required. Your account will continue to work as it always has.
Are the benefits changing?
No. The benefits and services associated with our youth accounts remain the same.
What ages are included in each program?
Sandy Savers Club: Ages 0 – 12 years old.
Flex: Ages 13 – 17 years old.
Who can I contact if I have questions?
Contact us or visit your nearest branch with any questions about our youth programs. Our team is happy to help.
Are you ready to start your future now?
Then get started today with our online application! In three easy steps, you can complete the requested information online to open your Youth Account. Don’t forget – you have to have an adult as a joint owner. We will follow up with you as soon as possible to complete your account. To get started, click here.
1) There is no charge for cash transactions made at point-of-sale terminals or Velocity Community-owned ATMs. Fees may apply for transactions made at machines we do not own. You must make 20 transactions or more with your debit card or mobile wallet connected to your checking account and be enrolled in eStatements by the 25th of the month to qualify for Cashback. Cashback of $0.10 per transaction will be automatically deposited into the checking account on the 1st of the following month. The checking account must be open on the day that the cashback is paid or else the cashback will be forfeited. Transactions made with merchant cards connected to Velocity debit cards may not qualify for Cash Back.