It’s Time to Celebrate
Kids, Tweens
& Teens Week
It’s Time to Celebrate
Kids, Tweens & Teens Week!
Saving at SESLOC is Out of This World!
August 10-14
Did you know that children develop critical financial skills and habits by the time they turn seven?
That’s why we offer fun activities, giveaways and more for Kids, Tweens & Teens Week to help kids learn about the importance of saving.*
Buckle up and blast into savings!
*While supplies last.
Rocketing towards independence
Basic Checking1 is a great introductory checking account for all ages. If they’re ready to take the next step to financial independence, this is an account designed for them.
- No overdraft fees.
- No Non-Sufficient Funds (NSF) fees.
- No minimum balance requirements, and no monthly maintenance fee.
- Other Youth or Student Checking accounts offered by banks have an age limit, but with SESLOC’s Basic Checking, your teen won’t “age out” into an account with a monthly maintenance fee or minimum balance requirements.
- Monitor account activity (like if the balance falls below a certain amount) with helpful Online Banking alerts.
- The SESLOC Mobile App can help them learn how to manage money wisely – anytime, anywhere.
- The debit card is compatible with digital wallets for contactless payments.
- Does your older teen have an afterschool job? If they enroll in direct deposit, they can get early access to their paycheck funds
- Mobile Check Deposit funds are available in minutes
- Parents/legal guardians can also set up transfers from their account to their teen’s through Online Banking.
Prepare to Launch
Parents or legal guardians can open a Primary Share Savings account for their kids. You’ll need to bring their Tax ID number along with your government-issued identification (if applying with an ITIN, you will also need your Letter of Issuance from the Department of the Treasury Internal Revenue Service). You will also need to bring $5 for the membership fee and a minimum $5 deposit to open the savings. Please note that youth accounts cannot be opened online.
For Kids:
Grab this Youth Activity & Coloring Book: Let’s Go to the Credit Union
For Teens:
Build a budget & set savings goals
For Parents:
FREE WEBINAR:
Allowance to Adulting: Teaching Kids Money Skills That Last
Wednesday, August 12 | 12:00 p.m.
This free webinar will help parents build a strong foundation for their children’s financial future by teaching age-appropriate money lessons, such as saving, spending, budgeting and decision-making. This presentation offers practical strategies to raise confident, financially responsible kids at every stage of life.
Youth Agriculture Loans help students compete.
Whether your teen is raising an animal for a club or school project, we’ve got special financing to help you focus on that blue ribbon
Raise money smart kids with these fun activities:
- Biz Kids — Explore concepts about money and starting a business with interactive games and lesson plans to accompany clips from the PBS show.
- Hit the Road: A Financial Adventure Game — MyCreditUnion.gov presents an interactive budgeting game.
- Determining How Down Payments Affect Loans — Do you have a teen planning on buying their first car sometime in the near future? This resource from ConsumerFinanceBureau.gov teaches teens about the impact of a down payment on a loan.
- Try a budgeting activity — Print a Budgeting Worksheet, give your teen a monthly income, and have them work through their budget. How would things change if they needed to save more money? What if their housing payment went up? What would they do if their income increased or decreased?
DISCLOSURES
1. Basic Checking is not eligible for Courtesy Pay Service or SESLOC Rewards Program for debit cards. Basic Checking incurs a $2.00 monthly fee for paper statements. Refer to the Basic Checking Truth in Savings Disclosure for more information.
2. Early access to direct deposit funds subject to employer and/or payer terms and conditions. SESLOC Credit Union (“Credit Union”) generally makes these funds available on the day the payment file is received, which may be up to one (1) day earlier than the scheduled payment date. The Credit Union cannot guarantee early access of a direct deposit payment. Other exceptions may apply.
More resources for parents and kids
Should You Become an Authorized User to Build Credit?
If someone offered to add you to their credit card as an authorized user, you may wonder if it’s a smart shortcut to a better credit score.
Tips for Teaching Kids about Money and Finances
Giving kids an allowance can be a great way to teach them the value of money. Here’s some ways to expand that lesson beyond work and rewards.
June Is Elder Abuse Awareness Month: Stand Up for Our Seniors
June is Elder Abuse Awareness Month, a time to raise awareness of the financial exploitation and other forms of abuse that disproportionately affect older adults.
Savings are insured to at least $250,000 and backed by the full faith and credit of the U.S. government. National Credit Union Administration, a U.S. government agency.
