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Overview
Two great children’s savings accounts
It’s never too early to start saving! At AFFCU, we’ve got two great savings accounts for children, depending on their age. Our Coindexter Kids Club Savings Account is for kids 0-12 years of age, and comes with free savings resources and fun financial programs. Our Teen Savings account is for teens 13-17 years of age. With these accounts comes:
- Access to online and mobile banking
- Great interest rates
- Parents can freely contribute deposits
- Access to Coindexter Club website
Coindexter Kids Club Savings Account
Our Coindexter account is for kids 0-12, and comes with free savings resources and fun financial programs. Coindexter Kids Club members receive access to the Coindexter Club website, a membership card, special quarterly Club newsletters, birthday cards and other special mailings. Plus, parents can freely make deposits.
Teen Savings Account
Our Teen Savings account is for teens 13-17, and these members will receive access to AFFCU’s CyberMAT and mobile banking, a membership card, and guaranteed safety for their funds. Earn higher interest on your savings, all while enjoying the convenience of online and mobile banking.
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Coindexter Club
Coindexter Kids Club Savings Account
One of the best ways to ensure your child grows up financially responsible is to teach them about how to save, spend, manage and invest their money. AFFCU offers the Coindexter Kids Club Savings Account for members who are 12 years and younger, and the account can be opened with as little as $5.00. With the Coindexter Kids Club Savings account, your child will receive:
- Free quarterly newsletters
- Special birthday cards
- Free access to the Coindexter Club website
The Coindexter Club Website
The new Coindexter Club website offers exciting interactive and educational resources to teach children the importance of financial literacy. The Coindexter Club website features videos and games about how to earn, save, spend, manage and invest money. Get access by scanning the QR code directly from the quarterly newsletters.
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Questions
Coindexter Kids Club Frequently Asked Questions
- What are the requirements to open a Coindexter Kids Club savings account?Requirements:
- The child must be eligible to join the credit union and be between the ages of 0-12 years old.
- The child must have a parent or legal guardian named as joint on the account. If legal guardian, guardianship papers must be provided. Two forms of identification is required for both the minor and parent/legal guardian.
- What is the minimum deposit to open a Coindexter Kids Club savings account?The Coindexter Kids Club savings accounts can be opened with just $5.00.
- How do I open a Coindexter Kids Club savings account?The application process is simple and can be completed in two easy steps!
- Step 1: If you're new to the credit union, Open an Account Today.
- Step 2: Send us two Forms of Identification for the minor and two Forms of Identification for the parent/legal guardian. Choose from: Social Security Number and Card, Student ID, Texas State ID, Driver's License, Passport or Birth Certificate. Scan and email your forms of identification to memberservices@airforcefcu.com.
- Do I need to have a parent on the Coindexter Kids Club savings account?Yes, you must have a parent or legal guardian named as joint on the account. If there is a legal guardian, guardianship papers will be required.
- What happens to my child's Coindexter Kids Club savings account when they turn 13?When a Coindexter Kids Club member turns 13 years of age, the system will automatically convert the account to a Teen Savings account.
- Am I eligible for a debit card with a Coindexter Kids Club savings account?No, the Coindexter Kids Club savings account is not eligible for a debit card.
- How will my child get their statements?Quarterly statements are generated unless there are certain ACH or ATM transactions on the account. Then, statements will be provided either by mail or emailed monthly. You can request to receive your child's statements on a monthly basis regardless of the types of transactions made.
- Can a beneficiary be added to my child's Coindexter Kids Club savings account?No. Minor accounts are not allowed a POD on the account until the member is of legal age.
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Teen Savings
Teen Savings Account
Managing personal finances is one of the most critical skills we can teach our children as they enter their teenage years. Many teens struggle to comprehend the importance of saving their money, and without the proper financial guidance, they may never learn what it’s like to achieve the goal of financial freedom.
- Monitoring – Our Teen Savings Account is co-signed by a parent/guardian with monitoring rights
- Flexibility for Parents – Parents can freely make deposits to the account
- Dividends – Earn great interest rates
- Convenience – Parents and teens will both have 24/7 access to the GoAFFCU mobile app and CyberMAT online banking
Putting Teens on the Road to Financial Independence
With the help of AFFCU, your teen can now begin to experience and learn the financial motto adults live by: “Pay Yourself First, Pay Your Bills and Have Some Fun.” A savings account can them them start paying themselves and have fun!
For more details or to open an account, visit any branch office or call 210.673.5610 or 800.227.5238.
*Must have a parent or legal guardian named as joint on the account. Member eligibility required.
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Questions
Teen Savings Frequently Asked Questions
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FINANCIAL EDUCATION
FREE Interactive Lesson
Family Conversations About Money
Although money concerns may put a strain on relationships and conversations about money can be stressful, having family conversations proactively may help.
FREE Interactive Lesson
Budgeting For Families
Budgeting and planning family finances are key to controlling spending and planning for a healthy financial future.
FREE Interactive Lesson
529 Plans
Did you know that having a plan to save for your child’s college education actually increases the chances that they will attend? Whether you are just starting to save for college for yourself or you’re thinking about saving for someone else, 529 plans are an option that is worth considering.
How can we help you succeed?
- What would you like to borrow for?
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Auto Loans. We can also Refinance your current loan with another institution.
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- A home
- What would you like to save for?
- The holidays
- Nice! We think you’ll love our Christmas Club account.
- I’d like to open a savings account for my child
- Great idea! We have several Youth Savings accounts available, depending on your child’s age.
- Something else – and I’d like to earn a good interest rate
- Do you have some money saved up already?
- Yes, quite a bit
- Nice! Are you okay with leaving your money untouched for a while?
- Sure
- Great! We think you might like one of our Share Certificates. You agree to leave your money untouched for a while in exchange for a higher interest rate.
- I’d prefer to make withdrawals when I need to.
- Sounds good. Check out our Rewards Checking account or Money Market account. These accounts are a little more flexible, but still get you a higher rate.
- Sure
- Nice! Are you okay with leaving your money untouched for a while?
- Not much
- No worries. Once you open a Regular Savings account, you can open secondary accounts for whatever you need, including college, rainy day funds and more.
- Yes, quite a bit
- Do you have some money saved up already?
- I’d prefer just a basic savings account
- Ok! Our Regular Savings sounds just right for you. It also secures your AFFCU membership.
- The holidays
- What would you like help with?
- Accessing my accounts
- Okay, how would you like to access your accounts?
- Online
- Ok! Is this is your first time using Online Banking?
- Yes
- Sounds good. You can enroll in Online Banking right here. You’ll need your social security number and AFFCU member number.
- No
- Great. To access your account, simply click “Login” in the upper right hand corner of the page.
- Yes
- Ok! Is this is your first time using Online Banking?
- On my mobile device
- Great! First make sure you’re enrolled in online banking. Then, download our free app for IOS or Android.
- Online
- Okay, how would you like to access your accounts?
- Opening a checking account
- Great! We have several options available, so head over to our Compare Checking Accounts page to figure out which is right for you.
- Signing up for eStatements
- Cool! If you are already signed up for and using our online banking service, all you need to do is click on the eStatements tab (in the blue menu bar) to start enrolling.
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- Accessing my accounts