Savvy Savers Start Here. We Make Saving Fun.
Youth Savings Accounts
It All Starts With a Savings Account
A basic savings account is the perfect way to begin your child's financial education.
To open a Youth Savings Account, please visit any branch location with two forms of identification for your child (child's social security card must be one form of ID).
Chore & Allowance App with My First Nest Egg (ages 3-13)
FORUM offers a chore and allowance app with free financial education for children 3-13 through our partnership with My First Nest Egg. This app is a fun way for children to learn about earning, saving, and giving back and includes a digital piggy bank, allowance and chore tracking/rewards, age-appropriate curriculum, games, and calculators. Learn more and get started with My First Nest Egg today!
The Chore & Allowance App is provided by third-party service provider, My First Nest Egg. By selecting the link, you will leave FORUM Credit Union’s website. FORUM is not responsible for the privacy, security, or content of third-party websites or applications. Please review My First Nest Egg’s Privacy Policy and Terms and Conditions before using the service.
My First Money Talk Adventure Map.
Learn how to have your first money talk with your child.
Grow Your Child's Savings With Our Sprout Account.
Our Sprout Account is a great way to save for future expenses such as college, trade school, a first car, private education, and more.
Features
Account can be opened at any time from birth to age 18.
Members can earn a bonus on deposited funds per calendar year at the following tier levels:
- Annual $20 bonus for deposits between $200 and $499.99
- Annual $50 bonus for deposits between $500 and $749.99
- Annual $75 bonus for deposits between $750 and $999.99
- Annual $100 bonus for deposits of $1,000 and $1,499.99
- Annual $150 bonus for deposits of $1,500 and $1,999.99
- Annual $200 bonus for deposits of $2,000 or more
(For example, if you deposit $650 in a calendar year, you will earn a bonus at the $500-$749.99 tier level, giving you $50. The maximum bonus is $200. Deposits made in the calendar year the child turns 18 are not eligible for bonus.)
Funds are available when the child turns 18 and will automatically transfer to the child's Share Savings Account.
No minimum deposit is required to open the account.
Contributions can be made by anyone and at any time.
Earn a competitive dividend rate.
Certain penalties may apply for early withdrawals and/or early closure.*
*One account per child. Child is the account owner. The bonus is paid out on the last day of the year, December 31. You will earn the annual cash bonus if you meet any of the following total deposit requirements made between January 1st and 12 noon Eastern Standard Time on December 31st. Deposits made after 12 noon through midnight on December 31st will not qualify for the bonus. Maximum bonus of $200. Deposits made in the calendar year your child turns 18 are not qualified for the bonus. Penalty for early withdrawal of 10% of the lifetime interest earned on the account and all bonus funds. The following distributions are exceptions to the 10% penalty: the account owner has a disability; first-time auto purchase; tuition, fees, books, supplies, and equipment required for enrollment or attendance at an educational institution. Expenses and purchases must be incurred for the child named on the account.