"Piggy Bank" Kids Savings Accounts

Ages: 0 – 18

• Easy & Flexible: A parent or legal guardian* can easily open an account for a child using the child's Social Security number. You can deposit or withdraw funds at any time to support their needs, or set up automatic transfers from your account to watch their savings grow effortlessly.
   
• 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 age of majority 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 legal 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 gain hands-on experience managing their money through everyday banking activities, including making deposits, withdrawals, and using a debit card with a $200 daily withdrawal limit. They enjoy full access to mobile and online banking, with convenient features such as Zelle^® for sending and receiving money. At the same time, parents or guardians maintain complete visibility and oversight of the account, providing guidance and support as teens develop responsible financial habits.


• Seamless Transition: Upon reaching 16+, the account can be converted with parental or guardian permission into a "Grown Up" Teen Savings Accoung —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 have access to a complete suite of banking services, including deposits and withdrawals, checking accounts, debit cards, and direct deposit. They can easily send and receive money with Zelle^®, monitor their credit score through online banking, and enjoy the convenience of our mobile and online banking platforms. With access to a wide range of digital banking features and tools, they can confidently manage their finances anytime, anywhere.


• Seamless Transition: Once the teen turns age of majority, 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.