Spectrum Credit Union (Spectrum) offers a number of programs and services focused on young people.
To open a youth account, access the Online Membership Application and click the "Open a Minor Account" button. Follow the on-screen instructions to complete the application.
CFCU will make the first $25 deposit to open a new membership account - either regular membership or UTMA account (Uniform Transfer to Minor Account) - for the newbor child. (For the purposes of this offer, CFCU considers a newborn to be 365 days old or less.) Click here for details.
Age 12 and Under
Looney Tunes Kids Club
The Looney Tunes Savings Club is designed especially for our young members ages 12 and under. It is just like a savings account, but is designed to help young savers learn how to save and manage money. It's never too soon to prepare financially for the future. Click here for details.
Age 18 and Under
Your Money Matters
Be the most money-savvy teen in your school! Click here to view our Youth Newsletter and learn more about the basics of credit, interest, the difference between a credit union and a bank, and other money matters.
Age 21 and Under
The MySavings account for members 21 years old or younger offers a rate of 6.77% (7.00% APY)* on account balances up to $1,000, with balances above $1,000 earning our regular Savings rate.
This is a great way to get young members more excited about saving as they can watch their balance grow quickly through the power of compound interest.
There are no fees or minimum balance requirements. Please note that the account holder must sign up for eStatements within 60 days of account opening.
The Primary Member must:
- Be the individual that is applying for the MySavings 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 opening
- Have an email address
Only one MySavings account is allowed per member.
*Rate subject to change without notice.
High School Seniors
David P. Smay Scholarship
Each spring, Spectrum awards scholarships of $1,000 to members entering their first year of college. Click here for more application information.
Private Student Loan Program
Spectrum has partnered with Credit Union Student Choice to offer a private student loan program that helps students and their families fill the gap between the rising costs of college and limited availability of federal aid. Click here to learn more.
Easy Parent-to-Student Money Transfers
Use Spectrum’s convenient Person-to-Person Transfer service to get funds to your college student.
Transfers between Spectrum accounts post immediately, while transfers to accounts outside of Spectrum usually credit within three to five business days.
To get started, log in to your PC Access account and click on Transfer to Another Member or Transfer to/from Non-Spectrum Accounts.