Features at a glance
- Earn a higher rate (0.10% APY2) on the first $1,000
- Low minimum balance of only $5.00
- No monthly maintenance fees
- No maximum balance
- Get rewarded with our Great Grades Program
- A lower minimum balance of $500 for Share Certificates
- Easy access to your accounts through SCU Online and SCU Mobile
- eAlerts & eStatements3
It’s never too early to start saving! Scott Credit Union’s Teen Share Accounts help money grow and teach young adults (ages 13 to 17) the importance of saving money to reach financial goals. Whether saving for a first car or a college education, our Teen Share Accounts are the best saving accounts for students and the perfect tool to help young people learn the value of saving.
Why open a Teen Share Account at Scott Credit Union?
Watch your money grow.
Scott Credit Union’s Teen Share Accounts earn a higher rate (0.10%APY2) than our regular share savings accounts on the first $1,000. Plus, members with a Teen Share Account have the opportunity to open Share Certificates with a lower minimum balance – only $500 – so they can earn even more on their money.
Learn to manage money with a Student Debit Account.
Scott Credit Union’s Student Debit Account is like a checking account without the checks! It’s perfect for young adults who have never used a debit card before and are learning to manage money for the first time. Learn more about Scott Credit Union’s Student Debit Account.
Get easy access to your account.
Your Teen Share Account is accessible via both SCU Online & SCU Mobile, giving you quick access to check balances, make transfers, and view transaction history. You also have access to your account at any of our 15 convenient branches!
Frequently asked questions about Teen Share Accounts
What do I need to open the account?
An adult must be a co-owner on the account. The adult can open the account at any of our branches with a valid government issued ID and a secondary form of ID. We will accept an ID card, driver’s license, passport, military identification card as either the primary or secondary. Secondary only forms of identification that are acceptable include Voter ID cards, or your social security card. Please be sure to have the child’s address, date of birth, and social security number when opening the account.
Can I open the account online?
Due to identification requirements and regulations, we are not able to open Teen Share Accounts online. To open an account, please visit one of our 15 convenient branches.
2APY=Annual Percentage Yield. Balances over $1,000 earn the same rate as the Share
Savings accounts, currently 0.05% APY.
3Message and data rates from your carrier may apply.
Rates effective as of November 6, 2020.