Progressions Credit Union Has Youth Accounts for Every Age!
Whether your children are heading off to college, or just learning about the importance of saving, it is never too early to teach your children about the importance of managing their finances.
SmartBaby* for kids ages 0 to 1
Open a SmartBaby Account and we will deposit the initial opening minimum deposit of $5 to help your baby get started on the right financial path.
We recommend budgeting a set amount using direct deposit, payroll allotments or automatic transfers to your baby’s account in order to help establish a strong financial future early.
This account also earns dividends. Learn more by checking out our deposit rates page.
Ready to get started?
Jr. Stamper Club* – for kids ages 1 to 13
The Jr. Stamper Account can be opened for as little as $5.00 and earns your young saver dividends! Check out our deposit rates page for more information.
• Free prize for every 5th deposit made at one of our branches
• Annual Coloring Contest where your youth could win cash! Be sure to always read the Progressions Credit Union eNews for the annual announcement and a chance for your Jr. Stamper to win cash!
Ready to get started?
boom!* – Account for teens ages 13 to 18
This is designed to help a teenager take the first steps towards financial independence with a savings and no fee checking account that includes a Visa ATM/Debit Card as part of being a boom! member. Graduating boom! High School Seniors are eligible to win a $500.00 College Scholarship**
Check out our 24/7 Access for the ultimate convenience!
Ready to get started? The boom! Account can be opened for as little as $5.00 and earns dividends.
**Scholarships available to high school seniors only, subject to application and approval by Progressions’ Board of Directors.
*All accounts must be co-owned by your parent or legal guardian.
“Absolutely love this Credit Union. Wonderful people. Their member service is great, their office is kid friendly and they treat you like family. The app is easy to use, and their security features for your account are satisfactory. I get emails every time anything looks suspicious on my account from a real person asking of it’s ok to let that transaction through. Free banking, no fees. This Credit Union really is the best.”Danielle
Other Resources and Information:
Educational Savings Accounts
A Coverdell Education Savings Account (ESA) is a tax-favored account that helps pay for qualifying college and K-12 education expenses. Earnings on contributions may be tax-free and qualifying withdrawals are tax- and penalty-free.* You can even easily change beneficiaries should education priorities change.
• The beneficiary must be under age 18, unless they are special needs
• All funds must be used by age 30
• Responsible individual on the account must be a parent or legal guardian of the beneficiary
• Annual contribution maximum is $2,000
*For specific tax advice, consult your tax advisor.
Each year Progressions grants $500 scholarships to two lucky members. Applications for the scholarship are available after April 1st of each year and closes the end of April. Scholarships available to high school seniors only, subject to application and approval by Progressions’ Board of Directors.