Youth Share Account
Accounts for Every Age
LES People’s FCU has accounts for every age, including our members under the age of 18. Check out and open one of these age-appropriate accounts. These accounts are insured by the National Credit Union Administration (NCUA) up to $250,000.
Requirements for Children Younger than Age 14
Parent or adult must accompany the minor and bring the following:
- ✔️ Copy of child’s Birth Certificate
- ✔️ Child’s Social Security Number or ITIN
- ✔️ Parent’s picture ID with current proof of address
Requirements for Youngsters/Teens Ages 14 to Under 18
- ✔️ Photo ID: State ID, Passport, Municipal ID, School ID
- ✔️ Proof of Address: school letter, notarized parent’s letter, pay stubs, bank statement, clinic card
- ✔️ Social Security Number or ITIN
Youth Savings & Checking Accounts
Experience the benefits of a Youth Savings Account for members under 18 years old, linked to a Debit Card with access to over 30,000 surcharge-free locations nationwide. “Teen” members (14 and older) can also enjoy a Checking Account linked to a Debit Card, when the account is jointly owned with a Parent or Guardian.
Instilling the habit of saving is our top priority for the next generation. Let us help your youth members learn the value of saving for a secure financial future.
Other Benefits
- ✔️ College Scholarship: $1,000.00 College Scholarships for High School Seniors are available every year
- ✔️ Children’s Online Privacy Protection Rule
Four Ways We Support Youth Members
- ✔️ Open a New Youth Account with just $5 (highlighted with app)
- ✔️ Get a Debit Card and use it at over 30,000 free locations across the country
- ✔️ Manage finances with Online and Mobile Banking (highlighted as well)
- ✔️ Learn about debt-free products to build credit and prepare for your financial journey
When your youth member turns 18, they can transition to affordable savings and checking accounts.
Yoth Accounts Basics
| Share Account (Savings) | |
|---|---|
| Minimum deposit required | $1.00 |
| Monthly Maintenance Fee | FREE |
| Annual Account Service Fee (charged on July 31) | $5.00 |
| Share Draft (Checking)-Available with Parental Consent | |
|---|---|
| Initial deposit required | $25.00 |
| Monthly Maintenance Fee | FREE |
| Minimum balance required | FREE |
| Debit Cards | |
|---|---|
| Debit Cards are available with Share Accounts (Savings) only [1] Debit cards are available with Share Draft Accounts (Checking) only [2] |
|
| First 8 ATM/PIN transactions per month | FREE |
| ATM Transaction fee after | $1.00 |
Contact one of our Member Service Representatives if you have additional questions at (212) 529-8197 or by emailing lespfcu@lespfcu.org.