A financial head start for kids
Youth Savings Account
Save for your kids' future while teaching them smart money habits. Our youth savings is for ages 12 and younger. Have older kids? Explore our teen savings account.
Good financial habits start early
Place your kids on the path to financial success with a youth savings account from Mountain America. They'll begin saving money while learning to make deposits and withdrawals. They will also learn about dividends and how a savings account can help them earn more money.
- Designed for children 12 and younger
- Eligible for youth certificates
- % APY accrued daily
- Dividends are compounded and paid monthly
Plus, parents can link youth savings accounts to their primary account, giving them the ability to monitor all accounts with one digital banking login.
For kids ages 13–17, explore our teen savings account.
Youth savings account details
- Only $1 required to open and maintain the account
- Minors must have a joint accountholder who is 18 or older
- No monthly service fees
- Earns dividends on average daily balance of $25 or more
- Automatically converts to a teen savings account at age 13
Give your kids a financial head start
Open a new youth savings account today online, at your nearest Mountain America branchor over the phone at 1-800-748-4302.
Open your account
Youth savings FAQs
When should I start a savings account for my child?
You can open a savings account for your child at any age. Once your child is old enough, they can take ownership of the savings account with your support. Our youth savings accounts are designed for kids 12 years old and younger.
What is the best savings account for kids?
A youth savings account is the best savings account for kids. These savings accounts typically have low minimum balances, low or no service fees, joint ownership (parent and child) and a transfer of ownership. A good interest rate and perks like an ATM card are also available.
How do you open a savings account for a child?
Opening a youth savings account is simple. Visit your nearest branch with the child's Social Security number and a valid form of identification as the parent or guardian. (Identification is not required for the minor.) The parent or guardian should be prepared to sign any legal documents on behalf of the child. Once the account has been set up, the account details will be available to you online or through the mobile app.
Should I start a savings account for my child?
There are many benefits to opening a youth savings account for your child, such as helping them learn:
- Financial responsibility
- The value of money
- Basic math skills
- How to save and stay focused on goals
Can I access the money in my child’s bank account?
Yes, you are able to make withdrawals or deposits to your child’s account to help them reach their savings goals.
What is a youth savings account?
This savings account is designed for kids ages 12 and younger and helps them learn to manage their money as they grow. We also offer teen savings accounts for kids ages 13 through 17 and student savings accounts for young adults ages 18 through 25. Once they turn 26, the account will convert to a primary savings account and they will gain full ownership.
More resources
Youth Certificates
Help your children save for long-term goals like buying a car and paying for college.
Teen Savings
Encourage your older kids to develop good saving habits while earning dividends.
MyExpress Account
Easily load your child's allowance into a debit account to teach them how to manage their money.
Tips for Parents
Learn seven ways to teach your child important lessons about money.
Rate & fee schedule
