Grow your child’s savings

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.*

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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 $250 limit.

Account Alerts

Parent can set up alerts to help monitor their teen's balances and spending habits.

Step by Step

Get 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 16-18 after attending the First Step Visa Seminar.

Set them up for Financial Success

Help your child develop a strong financial foundation for their future. 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.

Woman and child with piggy bank.
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.

Three people hugging in a group, likely friends or family, with an overlay of a social media or photo app icon.
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.

Woman using credit card on tablet.
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 16-18 who are ready to start building their credit and learning financial responsibility.

Benefits of our First Step credit card include a credit limit of $250 and online account managements 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!

 

 

First Step Visa program graduates, on average, have credit scores up to 50 points higher than non-graduate WECU members of similar age (740 versus 683).

 

 

Mother and daughter using laptop

 

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.

Frequently Asked Questions

 

1. Are there any fees?

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.

2. What is the limit for the First Step Visa teen credit card?

With a $250 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.

3. Can I open an account online?

Yes, First Step accounts can be opened in the branch or online! Book an Appointment or Open Account Online

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

10. 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.

11. 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.

12. How does the First Step Visa program work?

The First Step Visa program is for students aged 16-21. Classes are held bi-monthly 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.

13. Can a child be the only signer on a First Step Visa?

Yes, if the student is at least 18 and can provide proof of income, they can apply to be the sole signer on a First Step Visa. Emancipated minors can also qualify.

14. What happens to my First Step Visa after I turn 21?

Once a member turns 21, they may apply for a credit limit increase or to remove a co-borrower from their First Step Visa. Otherwise, the card will continue to be an active account with the current terms indefinitely.

*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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