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Learning how to manage money is a foundational part of every person’s life.

That’s why we offer the MySavings Youth account for members 21 years old or younger. This high-dividend savings account is designed to help younger members learn the joys of saving money and how compound interest works. 


Offering a variable rate of 6.77% (7.00% APY)1 on account balances up to $1,000 and our regular Primary Share Savings rate on balances above $1,000, the MySavings Youth account demonstrates how quickly account balances can grow as a result of high dividends. 

Benefits of MySavings Youth account

  • No monthly fees or minimum balance requirements
  • Variable 6.77% (7.00% APY)1 on account balances up to $1,000
  • Primary Members between 13 years old and 21 years old can request an ATM card in order to access the funds2

To open a MySavings Youth account

  • Access the Online Membership Application
  • Click the “Open a Minor Account” button
  • Follow the on-screen instructions to complete the application


The Primary Member must:

  • Be the individual who is applying for the MySavings Youth account 
  • Have a Social Security number
  • Be 21 years old or younger
  • Opt out of paper statements and sign up for eStatements within 60 days of account opening3
 

See if you are on the right track with your college savings.

 

Only one MySavings Youth account is allowed per member.

1 APY=Annual Percentage Yield. Rates are variable and may change after the account is opened. Fees may reduce earnings. Rate subject to change without notice.
2Primary Member must fill out a form in order to receive an ATM card. Visit your local Chevron Federal Credit Union branch, or give us a call at 800-232-8101 for more information. For those outside the U.S., please call 510-627-5000.
3To sign up for eStatements, the Primary Member must create an Online Banking account. This must be completed within 60 days in order to lock in the 6.77% dividend rate. The Primary Member’s failure to enroll in eStatements before the end of the 60 day period after account opening will automatically result in your account type being changed to a regular Chevron Federal Credit Union Savings account and you will begin earning the lower, standard Savings dividend rate, for your regular Chevron Federal Credit Union Savings account.
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