Youth savings accounts help develop good money management skills.
Encourage positive habits
Setting aside money regularly helps you plan for the future.
Easy to get started
All it takes is $5 to open one of these accounts.
Build over time
Steady deposits grow with our rate.
Increase financial knowledge
Access age-appropriate financial literacy resources.
Three accounts are ideal for saving birthday money and income from first jobs.
From the crib through college, these youth savings accounts allow young members the opportunity to increase their savings while developing money management skills that last a lifetime.
MY Savings
- Designed uniquely for young adults ages 18 to 25.
- Manage your account through Online & Mobile Banking* (free service – check your cell phone plan for possible fees).
- Earn more dividends on the first $1,000 in this account.
- Look for financial education workshops we host at local colleges and financial centers.
Teen Savings
- A special account for teens ages 13 to 17 (a qualified adult joint owner is needed).
- Open this account in person with a qualified adult joint owner and bring an ID, such as a Social Security card.
- Manage your account through Online & Mobile Banking* (free service – check your cell phone plan for possible fees).
- Start earning dividends on balances as low as $5.
- Look for financial education workshops we host at local schools and financial centers.
Kids Savings
- Tailored to children ages 12 and younger.
- Open this account in person with a qualified adult joint owner and bring an ID, such as a Social Security card.
- An official Kids Savings account statement arrives every quarter so your child can see how his or her money is growing.
- Start earning dividends on balances as low as $5.
- Receive a fun and informative quarterly newsletter that teaches the value of saving.
- Kids Savings members can participate in contests and are eligible to win prizes.
Here's what you'll need to open an account account.
A tax identification number with proper ID for yourself and any minor (Social Security card or military ID). Teen Savings and Kids Savings members will need a qualified adult joint owner.
Youth Savings Rates
| Minimum Balance to Earn Dividends | Dividend Rate | Annual Percentage Yield1 |
|---|---|---|
| $5.00 | 0.10% | 0.10% |
Teen Savings Rates
| Minimum Balance to Earn Dividends | Dividend Rate | Annual Percentage Yield1 |
|---|---|---|
| $5.00 | 0.10% | 0.10% |
Open your Youth Savings account.
You can open an account by visiting a financial center, calling (800) 845-0432, or online.
To view Checking account options and learn more, click here.
To view Savings account options and learn more, click here.
Required documents:
The following accounts require personal attention, specific documentation and are not opened online: Trust, Individual Retirement Accounts (IRAs), estate accounts, business accounts, teen accounts and Kids Savings accounts. Please visit a financial center for assistance with these accounts.
To view Checking account options and learn more, click here.
To view Savings account options and learn more, click here.
Required documents:
- A valid driver's license or government-issued photo ID
- U.S. Social Security Number
- Credit/debit card to fund the account
The following accounts require personal attention, specific documentation and are not opened online: Trust, Individual Retirement Accounts (IRAs), estate accounts, business accounts, teen accounts and Kids Savings accounts. Please visit a financial center for assistance with these accounts.
If you wish to close your account, we ask that you visit a local financial center or Contact Us.
Please be advised, your account cannot be closed if you have an open credit card and/or loan with a balance. If the credit card and/or loan are paid in full, but still open, you will still need to sign documents to close those accounts.
South Carolina Federal designs its products and services to stay one step ahead of members’ needs. If you plan to close your account due to relocation, please keep in mind that we offer 24/7 access to your accounts via Online Banking, Phone Banking, Mobile Banking, Text Banking and mobile apps.
Please be advised, your account cannot be closed if you have an open credit card and/or loan with a balance. If the credit card and/or loan are paid in full, but still open, you will still need to sign documents to close those accounts.
South Carolina Federal designs its products and services to stay one step ahead of members’ needs. If you plan to close your account due to relocation, please keep in mind that we offer 24/7 access to your accounts via Online Banking, Phone Banking, Mobile Banking, Text Banking and mobile apps.
Managing your money made easy.
Simplify money management with flexible checking features that fit your lifestyle.