First Step Savings
Help your child learn financial responsibility and the habit of saving, while also earning interest. Available for ages 0-19.
Banking for Kids and Teens
Get started with the credit union you trust. Open First Step accounts for your child and they'll earn 7.00% APY* on combined balances up to $750.*
Book Appointment Open AccountYouth Bank Accounts
Step up with First Step
Banking built for kids and teens
7.00% APY*
Kids earn 7.00% APY on combined balances up to $750.*
No Monthly Fees
Never pay a monthly or overdraft fee for your child’s checking or savings account.
Debit Card
Your kids will be excited to have their own debit card.
Real-Time Transfers
Send money to your kids using your WECU account.
Automatic Savings
Make savings a habit using automatic saving options.
Credit Building
First Step Visa is a safe way to build credit with a $300 limit.
Account Alerts
Parent can set up alerts to help monitor their teen's balances and spending habits.
Step by Step
Get Your Child's Banking Started
Get your child started on the right foot when it comes to a successful financial future. Take the first step and open an account today to help them develop good savings and spending habits early in life, laying the foundation for a lifetime of financial success.
Open Account-
Open a First Step Savings
Available for kids and teens ages 0-19. -
Open a First Step Checking
Available for kids and teens ages 6-19. -
Apply for a First Step Visa
Available for ages 15-19 after attending the First Step Visa Seminar.
Why Opening a Bank Account
for Your Kids is Important
Opening a bank account for your child is a vital step in teaching financial responsibility from an early age. Kids bank accounts provide a hands-on way for children to learn essential money management skills under the guidance of their parents. These youth bank accounts help kids understand the importance of saving, budgeting, and making informed financial decisions, which lays a strong foundation for their financial future. With parental oversight to monitor progress and set limits, children can safely navigate their first financial experiences, building confidence and avoiding the intimidation of managing finances as they grow older. Moreover, having a bank account for kids early on helps prevent future financial missteps by ingraining good habits and knowledge about financial concepts, terms, products, and services.
By introducing banking for kids early, parents can ensure their children develop strong financial habits that will serve them well throughout their lives.
Set them up for Financial Success
Help your child develop a strong financial foundation for their future with WECU’s youth bank accounts. The First Step program is designed to move your child through their teen years on a financial journey that instills a sense of financial independence and teaches them valuable lessons about budgeting, saving, and building credit.
First Step Savings
Grow their savings
Open a First Step Savings today and give your child the head start they deserve. With an impressive 7.00% APY,* our First Step Savings Account is the perfect way to help your child develop a strong financial future.
First Step Checking
Teach them to manage money
Looking for a safe and convenient way for your child to manage their money? Our youth checking account is designed to meet the needs of children aged 6-19, providing a secure and hassle-free way for them to manage their finances. Teens with jobs can direct deposit their paycheck. Parents can get account alerts.
Our First Step Checking Account comes with no overdraft fees, meaning your child can spend their money without any worry of being charged an extra fee.
First Step Visa
Help them build credit
Are you looking for a way to help your teenager learn responsible credit habits? Our First Step credit card is designed for teens ages 15-19 who are ready to start building their credit and learning financial responsibility.
First Step Visa program graduates, on average, have credit scores up to 70 points higher than non-graduate WECU members of similar age (742 versus 672). Benefits of our First Step credit card include a credit limit of $300 and online account management tools to make it easier for teens to stay on top of their spending. Sign your teen up for the First Step Visa Seminar to get started!
Financial Wellness Webinar
First Step Visa Webinar: Register Now!
We believe that education is key to responsible credit use. That’s why all teens in our program attend a financial wellness webinar, where they’ll learn about the importance of good credit habits, how to manage a budget, and the impact of credit scores on their financial future. Sign your teen up for the First Step Visa Seminar today where they can learn more right from the comfort of home!
Save the Difference
When you enroll your teen’s checking account in Save the Difference, WECU will round up debit card purchases to the nearest dollar and deposit the rounded-up amount into their savings account. Call 800-525-8703 or chat with us online to enroll today.
Let’s Talk Money: Earning
One of the most defining aspects of your child’s financial future will be how much they earn. Like it or not, it’s a lot easier to make ends meet when you are…
Read More >Let’s Talk Money: Spending
Finances can be very private, but that doesn’t mean they should be. Talk openly about money with and around your children. Let them see you paying…
Read More >Let’s Talk Money: Saving
Saving is a habit, and like any other habit, it takes practice to develop. Writing out savings goals with a timeline and keeping them somewhere visible is a great…
Read More >Allowance: Practice Financial Concepts
By putting “their own” money in a child’s hands, you engage them in the learning process on a level that no other method will.
Read More >Teaching Kids About Money
Listen to this podcast where Keith and Caitlin talk about teaching kids about money.
Listen Now >Make a Savings Goal with Your Child
By making a defined, measurable goal, you can work with your child to understand the work needed to save up for something they want.
Read More >Three Little Piggies Piggy Bank System
Creating a piggy bank system is a great way to show your child the process of putting money towards different purposes.
Read More >Building Your Child’s Financial Foundation
At what age should my child have a bank account? When is the right time to set them up with their own debit card?
Read More >Frequently Asked Questions
Are there any fees on youth checking and savings accounts?
There are no monthly fees associated with our First Step kids savings and First Step kids checking accounts. The First Step Visa will be charged interest if the balance is not paid off.
What is the limit for the First Step Visa teen credit card?
With a $300 limit, you don’t need to worry about your teen racking up thousands of dollars of debt on their first credit card. The First Step Visa is a great first credit card for teens to build credit safely.
Can I open a youth bank account online?
Yes, First Step accounts can be opened in the branch or online! Book an Appointment or Open Account Online
Who can open a First Step Checking Account?
A First Step Checking Account can be opened for members aged 6-19 who can sign their own name and provide accepted identification. A parent or guardian must be a joint signer on the account.
Who can open a First Step Savings Account?
First Step Savings Accounts can be opened for members aged 0-19. Kids can be signers on the account if they are 6 years or older, but a parent or guardian must be a joint owner/signer. Individual account management for teen savings accounts is available for ages 16-19.
What ID is needed to open a First Step Checking or Savings Account?
For kids under 18, acceptable ID includes a current school year ASB card, Student Record, or a current work ID with a photo. After turning 18, a government-issued photo ID is required. Please note, individuals must also provide the minor’s social security number at the time of opening the account.
Can a youth open a First Step Checking Account without a parent?
To open a First Step Checking Account without a parent or guardian, the individual must be at least 18 years old.
Can a youth open a First Step Savings Account without a parent?
A child must be at least 16 years old to open a First Step Savings Account without a parent or guardian.
What is the process for a grandparent or non-parent/guardian to open an account for a youth?
If a non-parent/guardian would like to act as the joint owner on the account, a permission letter from the minor’s parent is required to be on file.
What happens to my First Step Checking or Savings Account after I turn 20?
First Step Checking and Savings Accounts are converted to Spend Free Checking and Regular Savings accounts, respectively, on the child’s 20th birthday.
What online or mobile banking options are available for First Step accounts?
Due to the Children’s Online Privacy Protection Act, no online banking access is allowed for kids under the age of 13. Access may be granted on their 13th birthday after contacting WECU to request enablement.
How does the First Step Visa program work?
The First Step Visa program is for students aged 15-19. Classes are held quarterly (or on-demand 24/7) to teach responsible borrowing habits. If the student can provide proof of income, they can apply for a First Step Visa loan in their name only. Otherwise, a parent or guardian must sign as a co-borrower.
Can a child be the only signer on a First Step Visa?
Yes, if the student can provide proof of income, they can apply to be the sole signer on a First Step Visa. Emancipated minors can also qualify.
What happens to my First Step Visa after I turn 20?
The First Step Visa remains open until the member chooses to close the card or applies to transfer the
card to another card type.
*APY = Annual percentage yield. An opening deposit of $1 or more is required. First Step Savings is available for ages 0-19 years with a parent/guardian joint signer. It earns 7.00% APY on balances up to $500. Regular savings rate applies to balances above $500. Dividend Period for balances above $500 is quarterly and dividends compound quarterly. No monthly fee or minimum balance. $1 to open. First Step Checking is available for ages 6-19 years with a parent/guardian joint signer. It earns 7.00% APY on balances up to $250. Remaining balance is non-dividend-bearing. $1 to open. No overdraft fees. No check writing. First Step Savings and Checking APY is accurate as of April 01, 2024
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