University of Michigan Credit Union knows the importance of good savings habits at any age. That’s why we offer several programs to help develop these valuable skills. Discover how your son or daughter can enroll in one of our many programs that show youth extra ways to save and shop. Check out our Financial Little League, Financial Minor League, and Financial Major League accounts.
Financial Little League (Ages 11 and under)
Start your kids out on the all-star financial path. Little Leaguers (kids 11 and under) enjoy:
- Dividends that are compounded and paid monthly with no annual fee
- A $5 bonus when they reach $200.00 saved
- An annual Financial Little League newsletter and invitations to special events
- The opportunity to participate in periodic contests which will be announced in UMCU’s monthly MemberGuide
- Free financial education workshop for young members aged 7-10
Parents and legal guardians have the ability to set-up direct deposit, automatic transfer or payroll deduction right into your child’s account. Federal regulation limits the number of pre-authorized or third party transfers from this account to six per month, excluding transfers made in-person at a branch.
Children, grandchildren, nieces, nephews, and cousins (age 11 and under) of current members are eligible.
Requirements to open a Financial Little League account:
- Child’s Social Security number
- $5 for the initial deposit
- The parent or legal guardian must be the joint owner on the account
- Grandparents, aunts, uncles, or any other adult (relative or friend) are eligible to be a secondary joint owner
Open your child’s account online or visit any UMCU branch location to open a Financial Little League account today!