Page Banner image

Want to see how money grows? We’re helping members 21 years or younger discover the power of compound interest1 with the MySavings Youth account.

We offer a generous dividend variable rate of 6.77% (7.00% APY)2 on account balances up to $1,000 and our regular Primary Share Savings rate on balances above $1,000.  

You’re never too young to start saving, and this account’s designed to create excitement around dividends and help young members develop good saving habits.

Newsweek's Best Savings Account for Teens!

NW_2021_BestBanks_LT (2)

Account benefits

  • No monthly fees or minimum balance requirements
  • Variable 6.77% (7.00% APY)2 on account balances up to $1,000
  • Account holders who are at least 13 years old may request an ATM card to access the funds3

Steps to open a MySavings Youth account

  • Go to the Online Membership Application
  • Click the “Open a Minor Account” button
  • Follow the on-screen instructions to complete the application


  • The member aged 21 years or younger must be the Primary Member listed on the application
  • Primary member must provide Social Security number
  • Primary member must be 21 years old or younger
  • Primary member must opt out of paper statements and sign up for eStatements within 60 days of account opening4
  • Only one MySavings Youth account allowed per member

Tools to Raise Money Smart Kids

M3 Money Club® (Ages 4-12

Start teaching your child smart money habits early.

M3 Money Club® for kids is a fun way to introduce your kids to financial education, through games, comics, coloring pages, and more. M3 is recommended for young members (from ages 4 through 12) and teaches money management through an exciting world where superheroes rule, and learning about money is cool. 

Open a MySavings Youth account for your child (or grandchild), and they'll become a part of the M3 Money Club. They will learn valuable money skills as they prevent the evil Dr. Spendit from stealing all the money in the world! 

M3 Money Club

Elements of Money® (Ages 13-17)

Elements of Money helps teens save, spend, and borrow the smart way. How teens learn to manage their money can have a significant impact on their life. That's why Elements of Money provides everything they'll need to learn financial responsibility and start building a solid financial future for tomorrow.

Teens will benefit from an interactive website with financial topics through blog posts, social media content, videos, online quizzes, articles, contests, and more!

Open a MySavings Youth account -- Newsweek's Best Savings Account for Teens in 2022 -- and they'll have access to a variety of teen-friendly financial resources to help prepare them for adulthood.

Elements of Money

1 Spectrum Credit Union pays dividends which compound similar to how interest from banks compounds.
2 APY=Annual Percentage Yield. Rates are variable and may change after the account is opened. Fees may reduce earnings. Rate subject to change without notice.
Primary Member must fill out a form in order to receive an ATM card. Visit your local Spectrum Credit Union branch, or give us a call at 800-782-8782 for details. For those outside the U.S., please call 510-251-6000.

4 To sign up for eStatements, the Primary Member must create an Online Banking account. This must be completed within 60 days in order to lock in the 6.77% dividend rate.

Ready to become a member? Let’s get started.

If you’re eligible for membership, we’re ready to hear from you. Not sure if you’re eligible? You can check if you qualify here.

Why join Spectrum Credit Union? Learn more.

From everyday finance to life’s big money moments, it’s better when you belong.