Youth Savings Account

Help teach your children how to manage money with this savings account issued in your child’s name. WFCU Credit Union offers young members 12 years of age and under the Youth Savings Account. Paying a competitive rate of interest, the account has full access to funds using a parent-approved debit card, includes no monthly or per transaction fees, and requires no minimum balance.

• No minimum amount to operate the account.
• Interest calculated daily and paid quarterly.
• An opportunity for a child to develop important money-management habits.
• The ability for family and friends to make deposits to the child's account.

Here are the benefits to opening a Youth Savings Account for your child:

• If you're looking for the perfect gift for children 12 years of age and under, a Youth Savings Account does more than set them on the right path. Our "starter" savings account pays a competitive rate of interest and allows family and friends to make deposits at any time.
• Youth Savings Account holders take pride in watching their savings grow from a very early age.
• At age 13, a Youth Savings Account is easily converted into a Youth Chequing Account. By this time, your youngster is well on the way to understanding how to manage their money.

Youth Chequing Account

We offer members aged 13 to 25 a Youth Chequing Account. Benefits include:

• No fee for:
  • In-branch withdrawals and chequing
  • All debits
  • Withdrawals* at WFCU/ECU ATMs, ATMs in Canada, and around the world
  • Direct payment transactions or bill payments done online, over the telephone, at a WFCU/ECU ATM, or in-branch
  • Online banking with online statements and online cheque images
  • WFCU/ECU mobile app for Android and iOS platforms
  • First order of standard personalized duplicate cheques
  • Unlimited INTERAC e-Transfers®
• No minimum amount required to operate the account
• Competitive interest rate
• Access to funds with your Debit Card and Personal Identification Number (PIN)
  • If under 16, requires guardian approval