Explorer Youth Savings Account in West Michigan

It is never too early for your child to begin saving, whether they are starting middle school or preparing for college. At Community West Credit Union in West Michigan, teens and kids can open an Explorer youth savings account to save their money and achieve their goals. We put relationships above profits to deliver the best solutions and opportunities for families opening kids’ bank accounts.

Why Open a Savings Account for Your Child

Teaching your kids about money can be challenging, but a savings account offers a practical way to introduce them to money management. When you open a savings account for your child, they gain the following and more:

  • A greater understanding of the value of money
  • Enhanced mathematical abilities
  • Better saving skills
  • A sense of fiscal responsibility
  • Goal-setting and prioritizing skills

Rates effective as of today.

DESCRIPTION APR APY
Explorer Savings 0.20% APR 0.20% APY

Dividends are paid quarterly on the above products.
APR = Annual Percentage Rate.
APY = Annual Percentage Yield. Rates Subject to Change
Fees may reduce earnings on the account. Click here for fee schedule.

Why Open an Explorer Savings Account?

Children ages 17 and under who open an Explorer Savings account, receive quarterly interest payments based on their average daily balance. The Explorer Savings account gives children more freedom to control their finances while their parent or guardian still has access to monitor activity as a joint account holder. Additionally, they can manage their money conveniently no matter where they are by using our 30,000 fee-free automated teller machines (ATMs) nationwide.

By partnering with Community West Credit Union, you gain access to some of the most effective financial products available in the state and guidance from passionate advisors. Additional benefits include:

  • Online and mobile banking services
  • Credit monitoring and ID theft protection*
  • Secure money management
  • Credit management and debt consolidation

What is CWPERKS?

One of the most significant advantages of having a kids’ bank account at Community West Credit Union is that you can earn rewards through the CWPERKS program. Every time you add a product, you accrue points that go toward various perks.

To redeem your points, verify your CWPERKS level in Online Banking. Then, complete the simple request application here. After you submit the form, a team member will contact you to go over the details of your submission.

Understanding Online Banking and eStatements

Young adults with an Explorer Savings account can use Online Banking to manage their money digitally. Enrolling in Online Banking is easy — simply log onto the Online Banking portal and click first-time user. Next, follow the directions and press the submit button to access your account online.

Our eStatements are another helpful feature for young savers. These electronic documents enable you and your child to monitor account activity safely and access up to 18 months of your banking history. Additionally, you receive statements much quicker online than by mail. To sign up for eStatements, locate Member Services in Online Banking. Find, My Documents, click on eStatements, and provide a valid email address to enroll.

Open a Bank Account for Teens and Kids with Community West

Since 1967, individuals throughout West Michigan have trusted Community West Credit Union to help them handle financial decisions at every point in their life. With locations in Comstock Park, Grandville, Hudsonville, Kentwood, Middleville, and Rockford, we serve 25,000 members by offering products and services that suit the unique needs of each client.

To set up a savings account for teens and kids, or learn more about our services, contact us to make an appointment today.

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