BMI Federal Credit Union
Growing Up With Your Credit Union
Imagine the possibilities for your child's future
It's never too early to start saving for your child and to teach them the importance of saving for the future. We want to be there for every step of your child's financial life, starting with their first savings account.
What You Need To Get Started
To open your minor's account, the following information will be required:
- Minor’s legal name
- Social Security Card and Birth Certificate or Government Issued ID and Social Security Card
All minor accounts must have a joint person of legal age.
Our Youth Accounts Grow With Your Child
Everywhere you look there are opportunities for your children to learn about smart finances. BMI Federal Credit Union can help.
Open a Youth Certificate with as little as $50 plus you can add funds at any time.
Checking Accounts and Debit Cards
When your child is ready for their first checking account and their first debit card we are here ready to help. They must be at least 13 years old and provide a picture ID (government or school). Learn how you can set limits on this card to help them learn the important responsibilities of saving and spending. You can also set them up with Online / Mobile Banking.
Online Learning Center with Games!
Our Online Learning Center is complete with interactive modules, games, and activities to keep your kids engaged while they learn all the basics for a lifetime of financial success!
Money Basics for Children
- A great place to start is with Teaching Kids Finances, a series of online activities to help understand the basics of money, savings, and more! Then explore our collection of financial games and lessons through the BMI Federal Credit Union Banzai program, Banzai Junior.
Preparing Your Teens
- Becoming a teenager means new and exciting responsibilities like getting a drivers license and enjoying unsupervised after-school activities. Prepare them for making good financial choices! Our Basic Saving for Teens series helps teens understand checking accounts, how credit works, budget fundamentals, and more!
Successful Starts for Young Adults
Coverdell Education Savings Accounts
A Coverdell Education Savings Account (ESA) helps you easily save for your child's education, with contributions and earnings coming out tax-free. Learn more about how a Coverdell ESA can help your child by exploring our brochure.
When it's time for your birds to leave the nest, we have everything you need to prepare them for college, including student loan options and helpful blogs on preparing for college. See below for our list of blogs.
Additional Financial Education Resources
Visit our comprehensive Financial Education Program, available for FREE and with additional online services for kids, teens, and adults.
Check out our featured articles below for great tips for all ages.
- Teaching Your Children the Value of Money
- 5 Books to Teach Your Children the Value of Money
- Back to School Shopping Budget
- Your Teen's Job
- CHooisng a Major
- Build Credit In College
- What you Need to Know About FAFSA
- Paying for College
- Private vs Federal Student Loans
- College Student Survival Guide
- 5 Biggest Student Loan Myths