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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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Money can feel complicated. Made Clear is the webinar series designed to cut through the noise, and give our members the tools and knowledge to strengthen their financial well-being. Our experts cover essential topics like debt management and teaching kids about money.
Members can join live or watch on their own time. Every session is free, practical, and built around real life.
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.
2Limit of one Student Checking Account per account (one per tax ID), ages 13-22. Must qualify for membership and checking account. Joint owner required on accounts under the age of 18 (option to remove joint owner at age of 18, with joint owner’s consent).
Student Checking Account transitions to Relationship Checking within 3 months of 23rd birthday. Relationship Checking requires $1,000 minimum average daily balance each month to earn 0.15% APY (0.15% dividend rate). To qualify for the additional Relationship Checking account 1.85% APY (1.834% dividend rate) you must activate and maintain online banking and eStatements with at least one online banking log in per month, make at least ten monthly credit and/or debit card transactions (excluding ATM transactions) and have a monthly minimum of one direct deposit or one ACH credit. Direct deposits and ACH credits must be a total of $1,000 or more within each month.
Everence Federal Credit Union is federally insured by NCUA.