This account is for kids up to 11 years old, and a parent or legal guardian needs to be the joint owner. There is no ATM card for this account, so the only way for your child to access their money is online or in person. By the way, rates arenâ€™t advertised on the Georgia United Credit Unionâ€™s website, so check with customer service to see what they are.
The Money Mammals is a website linked to the credit union that offers games, coloring pages and an app that teaches your child how to manage their money. Upon account opening, your child will get a free welcome bag plus a $5 refund back into their account. Each account also comes with a Savings Reward card â€” your child can earn a punch on the card for every $5 deposit your child makes in person. These can be redeemed for a toy (6 punches) or a $1 deposit (12 punches).
Once your child turns 12, the account will be converted to a Money Masters Teen Club account.
You and your child will need to apply for an account in person. Youâ€™ll need to become a member by opening a Prime Share account with $5, plus pay an additional $5 for a one-time membership fee. Make sure you bring your state-issued ID and Social Security number for both you and your child as youâ€™ll need those to open the account.