Mother smiling at daughter discussing school.

Youth Banking Accounts

Teach your child smart saving habits early with Call Federal’s Youth Accounts, created just for kids.

Open An AccountHave Questions? Let’s Talk.

Youth Savings Account

Call Federal’s Kids and Teen Savings Accounts are designed to help young members build strong financial habits early on. These youth savings accounts are free of monthly fees, and offer competitive dividends, and age-appropriate incentives that make saving fun and educational for children and teens.

Grow Money

Best Rates In Town

A Call Federal Youth Savings Account can earn up to a 6.00% APY on the first $1,000.¹

Savings

Low Minimum Balance

It’s only $5 to open an account – we’ll even take care of that for you!²

Computer

Free Financial Education

Access the Banzai Financial Education program tailored to early learners and savers.

Mobile Phone

Digital Banking Access

Access and control accounts from your favorite devices 24/7.

Apply NowContact Us

Teen Checking Accounts

A Call Federal Teen Checking account empowers your teenager with knowledge of essential financial tasks along with a whole bunch of cool perks.

No Fees

No Fees & No Minimums

$0 monthly service or maintenance fees and no minimum balance requirements.

Debit or Credit Card

Contactless Visa Debit Card

Your teen has convenient access to their funds when they need it.

Mobile Phone

Digital Banking Access

Access and control accounts from your favorite devices 24/7.

 

Computer

Free Financial Education

Access the Banzai Financial Education program tailored to early learners and savers.

Apply NowContact Us

Youth Account Rates

Youth Savings Account

Average Daily Balance

Dividend Rate

APY¹

¹APY= Annual Percentage Yield. Rate may change after an account is opened. Must be 17 years old or younger to open with a parent or legal guardian. The account balance will automatically be transferred to a Primary Savings Account during the calendar quarter following their 18th birthday. Last Dividend Declaration Date for Youth Savings: December 16, 2025.

Average Daily Balance

$0.01 – $1,000.00

Dividend Rate

5.87%

APY¹

6.00%

Average Daily Balance

$1,000.01 – $1,044.68

Dividend Rate

5.87%

APY¹

5.88% to 5.99%

Average Daily Balance

$1,044.69 or greater

Dividend Rate

0.25%

APY¹

0.25%
SEE ALL RATES

TAKE ADVANTAGE OF OUR FREE CALCULATORS

Use our free calculators to learn why now is the best time to focus on your child’s financial future. Calculator outputs are for illustrative purposes only and do not guarantee specific outcomes.

Empowering The Next Generation

Giving kids a head-start on financial literacy can change their whole lives.

Call Federal is focused on our youth’s future by teaching financial fundamentals at an early age.

5 Star Review

★★★★★

Call Federal clearly understands the importance of family and community. The entire Call Federal Team consistently makes me feel valued and welcomed.

Matilda W.

Frequently Asked Questions (FAQ)

Here’s what you’ll need to bring to open the account:

  • Your ID (parent or legal guardian)
  • Your child’s Social Security card
  • Optional: School student ID or DMV-issued ID for the child

We’re here to help make the process simple and easy. Contact us if you have any questions!

Yes, our Youth Accounts are available for children and teens aged 0 to 17. It’s never too early to start saving and become a member of the credit union!

If you’d like to open an account or learn more, contact us today—we’re here to help your child get started on their financial journey.

Yes, all minor accounts must have a joint owner, typically a parent or legal guardian, until the child turns 18. The parent or legal guardian must be listed as a joint owner on the Kids Savings account.

We’re here to help make the process simple and easy. Contact us if you have any questions!

Youth accounts can only be established by parents or legal guardians. However, grandparents have a fantastic alternative to help their grandchildren save for the future: the Virginia Uniform Transfer to Minors Act (VUTMA) account.

With a VUTMA account:

  • Who can open it? Parents, legal guardians, or grandparents.
  • Flexible Gifting Age: The custodian decides when the funds are gifted—at age 18, 21, or 25.
  • Pathway to Savings: A great way to support your grandchild’s financial future.

Call or visit a branch today to learn more about our VUTMA accounts and how you can open a custodial account for your grandchild!

Your teen can open a Call Federal checking account starting at age 13.

If you’d like to get started or learn more, contact us or visit a local branch—we’re here to help!

Yes! A Teen Checking account requires a parent or legal guardian as a joint owner until the teen turns 18. While we encourage teens to take an active role in managing their account, the joint ownership ensures proper oversight and support as they build their financial independence.

Contact us if you have any questions or need assistance opening an account!

Our Teen Checking account includes a FREE instantly issued contactless Visa debit card, providing your teen with convenient and secure access to their funds.

If you have any questions or need help setting up the account, feel free to reach out to us!

Does the Teen Checking account have overdraft protection?

Yes, our Teen Checking account offers overdraft protection by allowing transfers from the linked 01 savings account to cover unexpected expenses. However, the Teen Checking account does not participate in Call Federal Courtesy Pay.

Courtesy Pay becomes available as an option once the youth member turns 18. For more details, feel free to contact us—we’re happy to help!

Not finding what you’re looking for? See all FAQs.

You may also be interested in…

Financial Wellness for Kids & Teens

In support of our mission to uplift and inspire, we’ve partnered with Banzai to offer an interactive and engaging learning experience for our youngest members.
Learn more

Scholarships

Every great journey starts with opportunity. We’re proud to support local high school graduates and post-secondary students who are eager to learn, lead, and leave a lasting impression on their community and beyond.
Learn more

Open A Youth Account

Parents or Guardians, please complete the form below to let us know how we can best serve your child.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
Parent / Legal Guardian's Name * Required

Our Team will be in touch with you within 1 business day once your form is submitted.

Open a Youth Account at Call Federal today

We’re here to help you and yours with the important first steps toward financial empowerment.

Call Us
804.274.1200
Visit Us
Find Your Branch
Schedule A Time
Appointments
Back to top

Disclosures

¹APY= Annual Percentage Yield. Rate may change after an account is opened. Must be 17 years old or younger to open with a parent or legal guardian. The account balance will automatically be transferred to a Primary Savings Account during the calendar quarter following their 18th birthday. ²Call Federal will make the minimum $5 deposit required to establish a savings account with the credit union. It must remain in the account for 90 days. To open an account for a minor, we require the parent or legal guardian to be joint on the account. You must also present one form of identification for the minor, which can be a Social Security card, school student identification or DMV-issued ID.