Father and son smiling

Youth Banking

The Early Saver account makes it easy and rewarding for young people to save.

Early Saver Account Rates

APY Effective 11/16/2023*


Early Saver

On the first $500


Early Saver


See Account Disclosure for details

The perfect savings account for kids under age 18: the BECU Early Saver youth savings account offers your child a premium interest rate on the first $500 in deposits.

Early Saver Youth Account Features

  • Earn great interest rates: 6.17% APY on the first $5001
  • No monthly service fees
  • No minimum balance to open
  • Joint ownership for parents or guardians (joint owner must be approved for BECU membership)
  • Free online banking (kids 13+)2
  • Free mobile banking (kids 13+)2

How to Open an Account

  1. Download and fill out an application for a BECU Early Saver Youth Savings Account. If you don't have access to a printer, we can supply you with an application at a BECU location.
  2. Stop by a BECU location to submit your application or visit us virtually using Video Banking.
  3. Alternatively, you can mail in your completed application to: PO Box 97050, Seattle, WA 98124-7650.
  4. Questions? Give us a call at 800-233-2328.
Youth Banking: How much you can save in one year. Beginning balance $5. Monthly deposit $40. Expected rate of return 2.02% APY. In one year, you would have saved approximately $490.

Tips for Raising Money-Smart Kids

  • It's important to talk with your kids about money. A simple conversation using real-life examples from your own life can help. Check out our Teen Money Guide: The Next Big Talk
  • Try giving your kids a digital allowance. It's a great way to teach both money management skills and how to use online banking tools.  Read more with our article:  Allowance Goes Digital
  • Create a household budget and set financial goals with your teens. Money Smart Teens


When a minor turns 18, their accounts will either convert into standard savings and checking accounts, or Member Advantage savings and checking accounts, where they will continue to earn a premium rate on the first $500 in the checking and savings accounts, if they qualify. You can either remain a joint on the savings and checking account, or your teen can choose to convert their checking and savings accounts to independent accounts. You can also choose to remove yourself from your teen's accounts once they reach he age of 18.

Yes, we offer a free checking account teens and parents can take advantage of. Our free checking account is an ideal place to begin - it's a joint bank account for both you and your teen. Our standard checking accounts have no monthly maintenance fees or minimum balance requirements. Learn how to open a checking account for your teen.3

With today's rates, the answer to that would be approximately $30.4 Keep in mind, though, that rates are always subject to change.

Our Early Saver accounts come with a free ATM card which can be used to deposit or withdraw cash from ATMs. If you also open a checking account for your child, a free debit card can be issued that will link to both accounts.

We love it when children learn all about saving, spending and sharing – your child can open multiple standard savings accounts, free of charge, and even nickname each account to help them keep track (Theme Park fund, Savings fund, College fund, Giving fund, Fun fund, etc.). But there is a limit of one Early Saver savings account per child.

1/* Rates stated as Annual Percentage Yield (APY), effective 10/27/2022 and are subject to change. Fees may reduce earnings. An Early Saver account is required to establish membership. Balances $500.01 and above receive a rate of 0.50% APY. See Account Disclosure for details.

2/**Online Banking and eStatements are not available to anyone under 13 years old; eligibility and benefits subject to change.

3To open a checking account, you must establish membership by opening a Member Share Savings, Member Advantage Savings, or if under 18 years old, an Early Saver Account.

4Example above is based on: the indicated balance remaining in the account for the duration of one year with no withdrawals; monthly compounding; and the following annual percentage yields: 6.17% for the first $500 and 0.50% thereafter. Actual rates and benefits subject to change, fees may reduce earnings, early withdrawal penalties may apply. The information above is provided for educational and illustrative purposes only. The accuracy of the calculations and their applicability to your circumstances are not guaranteed.