MoneyRules For Teens - Access to banking products & education
Community Resource Federal Credit Union's MoneyRules For Teens Program has a ton of services that will give you the knowledge and freedom to make your own financial decisions. And, by using these banking products now - before you leave high school and set out on your own - you'll learn how to be a smart financial consumer!
Save for your future
Open a MoneyRules share certificate to help save for college or your future plans. Save at an above-market rate on this 12-month share certificate . The minimum to open the MoneyRules share certificate is $100. You can make deposits into the share certificate at any time up to $30,000 per term. The MoneyRules share certificate converts to a regular share certificate after your 18th birthday.
Your own checking account and ATM/VISA debit card
If you're at least 16 years old, you can open a MoneyRules Essential Checking Account and Member Connection ATM/VISA Debit Card. You'll be responsible for making your own deposits and withdrawals and keeping track of them too. You must apply jointly with your parent.
Essential Checking is our most affordable checking account. There's no minimum balance requirement or monthly service charge.
- Free withdrawals at affiliated ATMs, eight free withdrawals per month at other ATMs with
your Member Connection ATM/VISA Debit Card - First order of 50 checks free (Emerald Elegance style only) with your first check order
- No per check charges
- .35% discount on car loans and personal loans (Cannot be combined with other rate incentives)
- .25% premium on share certificates (Cannot be combined with other rate incentives)
- Free online banking
- No monthly fees or minimum balance requirements
- Free unlimited check writing
MoneyRules College Scholarship
Each year, we will award one $1,000 scholarship to the MoneyRules member who is a college-bound, high school senior and who demonstrates the greatest financial need.
Two credit card options to pay your way
The first option for teens who are at least 13 years old is for your parent to make you an authorized user on their card. This means that you share your parent's credit line. Your purchases will not earn rewards. The second option is the MoneyRules Young Adult VISA Card for teens who are at least 16 years old. This card is co-signed by your parent and it allows you to start building a credit history because it is issued in your name. You do not earn rewards.
CUScholar Student Loans
Federal loans not enough to cover the cost of your college education? The CUScholar Private Student Loan available through Community Resource Federal Credit Union can be the answer to your funding needs. Borrow as little as $2,000 or as much as $30,000 per year for a maximum of $120,000 in undergraduate loans or $160,000 in graduate loans.
Learn how to handle credit
If you are at least 16 years old, your parents can make you an authorized user on their card. This means that you share your parent's credit line. Your purchases will not earn rewards.
You must have a Community Resource savings account. Click here to apply!
Call (518) 783-2211 or 1-888-783-2211 for more information.
