At Everence Federal Credit Union (EFCU), we are committed to helping the young people in your life develop essential financial skills. Through our Youth Program, children and teens can learn budgeting, saving, and even investing, so they can make informed financial decisions both now and in the future—all while enjoying exclusive perks offered by Everence along the way.
To the youngest members in your family, money is likely an abstract concept; but there are benefits to opening an account at an early age.
It usually takes until preschool and kindergarten ages for children to understand the concepts of value and prices. From early on, however, it’s important to show them habits around using money, such as writing checks, using credit cards and buying groceries.
Around age 6, kids begin to understand to differentiate between what they want and what they need. It’s about this time they can receive allowances and learn about saving.
As part of the Youth Program, kids will receive an Everence-branded piggy bank to get them started on their savings journey.
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In this age group, kids are old enough to start learning to build simple budgets. While previously an allowance was enough to buy candy or make another small purchase, at this age the amount can increase to one that requires a level of management.
An allowance can be tied to chores or school grades, so that kids learn about earnings.
As they break down their budget, include a “charitable giving” category, so they begin exploring the concept of building stewardship.
As part of the Youth Program, kids will receive an Everence-branded “Save, Share, Spend” bank. This bank helps to teach about the different ways money is spent and gives a visual of the three buckets of savings, sharing, and spending.
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Teens at the younger end of this age group are ready to gain more control over concepts already introduced. If you give allowances, allow them to earn a higher amount by doing additional chores, or changing paydays from weekly to biweekly or even monthly so they learn to deal with larger amounts over an extended period. You can also start including them in discussions over family vacation planning or home renovation projects.
As they reach ages 15-17, include them in checking monthly bank statements to inform them how much an emergency purchase can cost and what kind of impact it can have on your budget.
As part of the Youth Program, teens can set up a financial education session with one of our EFCU branch managers, free of charge!
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At Everence Federal Credit Union, we’re committed to helping our members strengthen their financial well-being. Our free financial wellness webinar series covers essential topics like managing debt, boosting credit, teaching kids and teens about money and navigating student loans.
Join us throughout the year to gain expert insights and practical tips to help you make informed financial decisions.
Crush your debt: Refinance your student loans
The Everence Youth Program is for credit union youth savings account members. Consent by an adult is required for youth under 18. Adult supervision and assistance may be required to complete activities.
1Everence Federal Credit Union members are eligible for the Greenlight SELECT plan at no cost when they connect their Everence Federal Credit Union personal checking account as the Greenlight funding source for the entirety of the promotion. Subject to minimum balance requirements and identity verification. Upgrades will result in additional fees. Upon termination of promotion, members will be responsible for associated monthly fees. See terms for details. Offer ends 10/23/2026. Offer subject to change and partner participation. Card images shown are illustrative and may vary from the card you receive.
The Greenlight prepaid card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International.
Participation in this program is through Greenlight and at member’s discretion. Everence Federal Credit Union does not endorse or guarantee the products or information provided on any links to third-party web sites, nor is liable for products and services advertised on linked sites. Please carefully examine the privacy policies of each site visited as their practices may differ from Everence Federal Credit Union’s privacy policy.
Everence Federal Credit Union is federally insured by NCUA.
