$ave-N-Grow offers accounts with terms and conditions intended to help our young members learn to save and spend responsibly. FECU Membership* is available to all Federated Insurance® Companies employees’ and retirees’ children and grandchildren. Parents or Grandparents can open and manage the account on behalf of the child. Joint ownership required until child turns 18 years old. Become a Member - New Member Application
Get Your Children Involved in Finances
FECU provides free education about checking, identity theft, credit, budgeting and more so members can make smart financial choices. Check out some games, fun activities, websites, and information about money for kids and youth. Check out our Family and Kids Resources
FECU Checking Accounts - Tools for Managing Spending
Helping teens and young adults understand the value of spending wisely will pay off as they grow. Checking accounts are available to children 14 years and older. Young members can have their own Debit Card and parents can stay connected with mobile alerts, online banking, and text banking. Debit Cards can even be frozen using the tools available in online banking.
FECU’s online banking and mobile app let everyone know what’s going on in real time. Mobile Alerts are a great tool for helping teens and young adults feel they are accomplishing something independently, while joint account alerts provide parents/guardians notices of account activity. The Mobile Alerts can be used for conversations about how to avoid costly mistakes.
Learn More about Online Banking Enrollment
FECU Visa® Credit Card - Learn to Manage Credit
Federated Employees Credit Union Visa® credit card is available to children over 15 years old. Parent is required to co-sign until the cardholder turns age 21 years old. All cardholders must meet our lending qualifications. There are no annual fees and payments can be set up to pay automatically in online banking. Fraud analysts watch for suspicious card activity and contact you immediately if they identify potential fraud on your card. Apply for a Visa® Credit Card
Benefits of $ave-N-Grow accounts
Teach your children good saving habits and the value of financial responsibility early with help from FECU. By setting aside small amounts of money throughout the year members can watch their savings grow and earn a competitive interest rate. There are no minimum balance requirements. Accounts can be opened any time of year but $ave-N-Grow Term Share Certificates opened during the member’s birthday month receive an increased Annual Percentage Rate and a birthday gift card!
Term Share Certificates
- Available to ages 0–17
- 9-month term
- $100 minimum balance
- New deposits can be made in $25 increments
- Joint adult ownership recommended
- Members 0–17 years old receive a birthday letter
- Letter will include a coupon for a half-percent dividend increase to new 9-month term share certificate
- Members will receive $5 gift card when term share certificate is established
*Membership is available to all Federated Insurance Companies employees and retirees, their spouses, children, grandchildren, parents, and siblings. Contact your FECU branch or fill out the New Member Application to join today. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also verify your identity through a credit report or other electronic verification system.
Published Date:April 01, 2022
Categories: Featured Products and Services