Young Member Accounts
Credit union membership can and should be a benefit for every family member—including children and young adults. Help a young one start saving today!
Start Saving Early
Studies show that the earlier you start saving money, the less you’ll actually have to save. Why? The power of compounding dividends will work in your favor. Another reason to start saving early is to establish good savings habits. Learning to save, budget and manage at an early age will ensure you are on the path to a successful and bountiful financial future.
The First $5 is on Us!
Blue Flame Credit Union offers several savings products designed to jump-start a new saver and their saving plan including certificates. We’ll even make the initial $5 deposit to establish your young person’s membership with us! Savings accounts make great birthday and milestone gifts and allow you and other family members to make contributions throughout the year.
Youth Savings Accounts—Ages 0 to 18
- We make the first $5 deposit to establish the membership.
- No minimum balance or fees.
- Balances earn higher dividends than our Regular Savings.
- Annual Birthday Cards.
| Account | APY* | Min. Balance** |
|---|---|---|
| Youth Shares | 0.10% | None |
Regular Shares, Youth Shares and Young Adult Shares earn dividends quarterly. Christmas, Vacation and IRA Savings, and Checking Accounts earn dividends monthly.*APY = Annual Percentage Yield**Minimum balance before dividends can be earned.†Accounts have a minimum AVERAGE daily balance required before dividends can be earned.
Young Adult Savings Accounts—Ages 18 to 23
- We make the first $5 deposit to establish the membership.
- No minimum balance or fees.
- Balances earn higher dividends than our Regular Savings.
- Checking Accounts with ATM/Debit Cards available.
- Opportunities for Credit Cards and Vehicle Purchases.
- Eligible students may apply for academic scholarships.
Youth/Young Adult Savings Certificates—Up to Age 23
- Low $25 deposit to open certificate.
- Make additional deposits at any time without penalty.
- Choose from 6-, 12-, 18-, 24- and 30-months terms for optimum flexibility.
- No opening or maintenance fees.
| Account | APY* | Min. Balance** |
|---|---|---|
| Young Adult Shares | 0.10% | None |
Regular Shares, Youth Shares and Young Adult Shares earn dividends quarterly. Christmas, Vacation and IRA Savings, and Checking Accounts earn dividends monthly.*APY = Annual Percentage Yield**Minimum balance before dividends can be earned.†Accounts have a minimum AVERAGE daily balance required before dividends can be earned.
| Term | APY* | Min. Balance |
|---|---|---|
| 3 Months | 2.15% | $500 |
| 6 Months | 2.65% | $500 |
| 9 Months | 3.15% | $500 |
| 12 Months | 3.50% | $500 |
| 18 Months | 3.55% | $500 |
| 24 Months | 3.60% | $500 |
| 36 Months | 3.65% | $500 |
| 48 Months | 3.75% | $500 |
| 60 Months | 3.90% | $500 |
†For Youth (under age 18) and Young Adults (through age 23). Early withdrawal penalties apply to certificates. Additional deposits may be made to Youth/Young Adult Certificates. Dividends are compounded and paid monthly.
*APY = Annual Percentage Yield.
