Hampton Roads Educators' Credit Union is proud to announce that our Youth Investors Program is available to all youth ages 4 to 25. The Spare Change Club offers ages 4-8 an opportunity to learn the importance of saving thru the use of their MoonJars and their MegaBuk$ card. They are also eligible to participate in the Good Grades contest, available to our members who receive all A's and/or B's on their report card, each grading period.
The Capital Builders Club for ages 9-12, encourages youth to continue to save while also understanding the importance of a budget as they decide what to do with their allowances and anticipate their first paycheck in just a few years. Kirby Kangaroo is also an important web tool that allows the young members to learn about financial skills through playing games and stories that educate your child on money management and the tools available to them. The Capital Builders Club members are also eligible to participate in Good Grades as well as use their MegaBuk$ card to reach their savings goals.
The Financial Freedom Club is offered to members ages 13-25. While this club spans a large age group, it also offers age appropriate services to encourage financial responsibility and freedom as they begin to take charge of their accounts. For youth ages 13-17, an ATM card is available (with a parent's joint signature), allowing them access to their account. For those ages 16-17 who might have an after school job, we offer a free checking account, with a parent's joint signature, to allow them to begin to manage their money, while also creating their credit history. We strongly encourage our youth to use the free service, BudgetSmart, while trying to stragtegically and successfully manage their money. For the full-time college students, we offer a student credit card (requiring a parent's joint signature) with a $500.00 limit and a fixed rate as low as 6.90% apr* to encourage responsible spending while also allowing them to establish a good credit history.
Other advantages of the Youth Investors Club are, certificates of deposit that are available with a lower minimum deposit (child must me present to apply for the CD), seminars on budgeting, saving and preparing financially for college, everything you need to know about your checking account and more. Come in and sign up today as we work to educate and enable our youth to achieve the ultimate economic goal - Financial Freedom!
*apr - Annual Percentage Rate
