"Piggy Bank" Kids Savings Accounts

Ages: 0 – 18

• Easy & Flexible: A parent or custodian can easily open an account for a child using the child's Social Security number. Deposits and withdrawals can be made at any time, and you can even set up automatic transfers from your account directly into their savings.
   
• Long-Term Growth: Children gain full access to manage and withdraw their funds between the ages of 18 and 21.
   
• Seamless Transition: Once your child turns 18 and opens an adult PAFCU account, we can quickly and easily transfer their savings over to kickstart their financial independence.

"Start Up" Teen Savings Accounts

Ages: 12 – 16

• Easy & Flexible Start: Teens can open an account alongside a parent or guardian.* The parent or guardian serves as the primary account holder, while the teen gains hands-on access to key financial tools.
   
• Building Financial Confidence: Teens learn to manage money by making deposits, making withdrawals, and using a debit card with a $100.00 daily withdrawal limit.** They enjoy full mobile and online banking access, while parents/guardients maintain complete account oversight and monitoring capabilities.
   
• Seamless Transition: Upon reaching 16+, the account can be converted with parental or guardian permission—unlocking advanced tools and additional benefits as teens build independence.

"Grown Up" Teen Savings Accounts 

Ages: 16 +

• Building Independence: Teens are the primary account owners. A parent or guardian who is a PAFCU member is required as a joint account owner.
   
• Full Financial Tools: Teens can deposit and withdraw funds, set up checking accounts, use debit cards, and set up direct deposit. They also get full access to mobile and online banking.
   
• Seamless Transition: Once the teen turns age of maturity, they can keep the account as-is or remove the joint owner with their written consent.
  
   

   

Quick Ways To Start Earning Today

Handful of Quarters

Your child can now earn a handful of quarters during their birthday month!

 

Handful of Quarters Rules

• Visit one of our offices during your child's birthday.
   
• Let a teller know it's your child's birthday month.
   
• Our staff member will double-check the birthday date and bring out the large quarters bowl.
   
• Your child then reaches in, grabs as many quarters with one hand, and we'll deposit that amount into their PAFCU account. It's that easy!
   
• Good information: This is for children with a PAFCU "Piggy Bank" savings accounts only. One handful is allowed yearly and only during the child's birthday month. The minimum amount is $3; the maximum is $20.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
   

A's On The Report Card 

We offer a $5 deposit for each “A” young member
(Kindergarten through 12th grade) received on a report card.
 

“A” Grade Reward Rules

• The child must match the reward with at least a $5 deposit. Max of $25 per child each year.
   
• Deposits must be made in person by the student generally within one month of the report card date. Some exceptions will be considered.
   
• There is a limit of two matches per calendar year per member.
   
• The student must be the primary member of the account with the appropriate social security number and date of birth.
   
• Grade cards must be from an accredited school program or equivalent and for an official and most recent grading term.
   
• Mid-term, interim or outdated cards are not eligible.
   
• PAFCU reserves the right to consider special situations and children with special needs.
   
• If letter grades are not used, we will consider equivalents such as Exceeding Expectations, S+, “O” for Outstanding, Excellent, 3.5 and above on a 4-point scale, 90% and above, and so forth.
   
• “Effort” or “Conduct” grades do not count.
   
• Mid-term, interim, individual projects, and outdated cards are not eligible.