For those with the future in mind!
With a FREE Student Checking Account, you can open a Student Savers CD which earns a huge rate of 2% APY! The special Student Savers Certificate of Deposit (CD) was designed to stress the importance and benefits of savings by paying a high rate of 2% Annual Percentage Yield (APY) you won't find anywhere else.
The Student Savers CD is available only for members age 14-17. The CD matures on your 18th birthday, so the 'term' (how long you have the CD) depends on when its opened. Funds will be deposited into the Share Savings Account during the month of their 18th birthday.
The fine print:
*The Student Savers CD must be in the teen’s name and only one Student Savers CD per teen can be opened. The minimum opening balance is $25 and additional dollars can be added at any time, up to the limit of $1,000. Restrictions apply because this Certificate is intended to be used only for the teen’s own money. Student must have a Student Checking account in good standing to qualify for Student Savers CD. If the student needs to cash in the CD prior to their 18th birthday, a penalty of 100% of the interest earned will be assessed.