Children that grow up learning to have money management skills, they will be empowered to take charge and own their financial future. A KEMBA Teen Account can help you do just that! Help your child transition to being a responsible spender and saver!
When completing membership application, enter your teens information as the primary account owner and yours as the joint owner.
5 reasons and benefits for a KEMBA Teen Account
When your young adult gets their first job, they should also have the responsibility to manage the money they are making. As your teen learns to transition from their parents funding all of their needs/ wants, they can learn to make responsible spending and saving habits. They will have access to track their spending and saving with a KEMBA debit card and their own online and mobile access.
Having their own checking account will help give your teen the independence they call want. With your help and oversight, you can keep an eye on their activity and coach them to make smart and healthy financial decisions.
A KEMBA teen checking offers a safe place to set up direct deposit or deposit their paycheck. Easy access with a Visa debit card will be a helpful tool to give them a way to spend and track their purchases. Set them up with their own online banking and mobile app access that you can also see on your online banking profile.
As their parent/ guardian, you’ll be an owner on their account with access to see their activities within your online banking profile. This will also give you easy access to transfer funds to/ from your teen and more.
By opening a KEMBA teen account, you are helping them establish their financial future step by step. You’ll help them create smart money habits that will grow with them when they are ready for their first car loan, credit card and more!
SAVING FOR MORE?
The minimum opening deposit for a Teen account is $5. From there, you can add other products and services too! For example:
TEEN CHECKING TO GET THEM PREPARED!
Our Teen Checking is ready to help the young adult in your life start off on the right foot! KEMBA is proud to offer this account for you to work with your 15-17 year old so they can understand how a checking account works and be better prepared for the road ahead.
Benefits of this account include:
TEEN CHECKING ACCESS
Just like all members, your young adult will have access at nationwide surcharge-free ATMs at over 55,000 Allpoint ATMs and over 5,000 Alliance One ATMs. PLUS, more than 5,000 Co-op shared branch locations nationwide! So if they venture off for college, we can go with them wherever they go!
We want to be part of their financial future! Let us help them along the way by establishing credit! Once they are a member we can help with their first car purchase, first loan and more! Check back with a KEMBA representative when you’re ready, we are here to help!
Our mortgage partner, Member First Mortgage, offers many different programs. We can help find the right program that best fits your situation!
KEMBA members between 15-17 years of age are eligible for Teen Checking. There must be an adult parent/ guardian as a joint owner for all accounts. Parent/ guardian must acknowledge accepting responsibility for actions of the minor. The KEMBA debit card will be issued with reduced limits. Overdraft Privilege is not permitted on this account.
YOUTH CERTIFICATE OF DEPOSIT
Your teen is eligible for our Certificate of Deposit earning a premium APY* (maximum $1,000 deposit).
Saving for your young adult’s future is one of the most important things you can do. KEMBA wants to help! Our youth certificate offers and outstanding way to get the most from your saving efforts. Any child between 8-17 can start a certificate with a maximum deposit of $1,000. The certificate will automatically mature on their 18th birthday and automatically transfer to their savings account. Speak with a KEMBA representative for more information about this outstanding offer!
*APY=Annual Percentage Yield. Youth CD offers a premium APY. For current offer, visit the deposit rates page. Primary account owner must be between the ages of 8 and 18. The certificate automatically matures on the child’s 18th birthday. Certificate must remain on deposit the full term to earn any dividends. With the exception of the rules stated, all other certificate rules and disclosures apply.
