Teen Checking
Empowering Your Child's Financial Future
As a parent, you want to set your child up for success. Our Teen Checking account is more than just a place to store money—it’s a powerful tool for teaching real-world financial skills.
Give Your Teen the Gift of Financial Literacy
Why Choose Our Teen Checking Account?
- Learn by Doing: Your teen will gain hands-on experience managing their own money
- Safe Environment: You are able to guide and monitor their financial activities
- Reward Good Habits: Earn 5% cash back on debit purchases (up to $10 monthly) to reinforce smart spending
- No Hidden Costs: Zero monthly fees mean more opportunities to save and learn
Financial Skills Your Teen Will Develop
- Budgeting: Help them track income and expenses
- Saving: Encourage setting aside money for future goals
- Responsible Spending: Learn to distinguish between needs and wants
- Online Banking: Master digital financial tools in a secure environment
Features That Support Learning
- Mobile App: Real-time account monitoring and budget tracking
- Savings Goals: Set and visualize progress towards financial objectives
- Transaction Notifications: Instant awareness of spending patterns
- Educational Resources: Access to financial literacy materials and workshops
Parental Oversight Tools
Stay involved in your teen's financial journey with:
Joint Account Access:
Monitor activity and guide decisions
Customizable Alerts:
Get notified of large purchases or low balances
Opening an Account is a Learning Opportunity
Use the account opening process as a teachable moment. Here's what you'll need:
- Gather Your Documents
- Valid ID (for both you and your teen)
- Social Security Numbers for both account holders
- Proof of address
- Fill Out the Application
Choose between submitting a form or visit us in-branch - Verify Your Identity
We’ll securely confirm your information
Walk through each step with your teen, explaining the importance of each document and the responsibility of account ownership.
FAQ
Encourage your teen to set savings goals, create a budget, and track their spending. Use the account’s features to discuss financial decisions and consequences in real-time.
Yes! We’ve built in multiple safety features, including parental controls, spending limits, and real-time alerts. Plus, your teen’s money is protected by FDIC insurance.
Your teen can earn 5% cash back on debit purchases, up to $10 monthly. This feature can teach the value of smart spending and the concept of earning rewards through responsible financial behavior.
Absolutely! We offer financial literacy workshops, online tutorials, and in-app tips tailored for teens. We’re committed to supporting your family’s financial education journey.
As your teen approaches 18, we’ll work with you both to transition the account. This process itself is an excellent learning opportunity about adult financial responsibilities.
For parents or guardians: Yes, you’ll need to bring your government-issued ID when opening an account with your teen. We’ll use this to help protect your family’s financial information.
For teens: You won’t need a government-issued ID to open your account. However, keep in mind that some stores might ask to see an ID when you’re making purchases with your debit card. This is a normal part of shopping and helps keep your money safe.
A Message for Teens
Hey there! This account is all about YOU taking charge of your money. You’ll learn cool stuff like:
- How to make your money grow
- Keeping track of what you spend
- Setting goals and crushing them
- Using banking apps like a pro
Plus, you can earn cash back just for using your debit card. How awesome is that? It’s like getting paid to learn about money!
Join Our Community of Financial Learners
At Chief Financial Credit Union, we’re passionate about building financially savvy generations. By opening a Teen Checking account, you’re not just giving your child a place to keep their money—you’re providing them with a comprehensive financial education tool.
Let’s work together to inspire, empower, and enrich your teen’s financial future!