Accounts for Kids : Congressional FCU

Important Information - Customer Identification Program
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. By submitting this application, you authorize the Credit Union to obtain information necessary to verify your identity. This may include information obtained from consumer reporting agencies, public databases, or other sources. If the Credit Union is unable to verify information you provide, an account may not be opened. The Credit Union reserves the right to close your account if it determines at a later date that it does not know your true identity.

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November 20, 2008

Accounts For Kids!

It's never too early to start saving! We encourage all of our young members to begin saving their money and our kid accounts are great ways to get started. We offer Member Savings Accounts, Congressional Kids Club, and Congressional Freedom for our younger members.

Congressional Kids Club
A Congressional Kids Club savings account is a great way to teach children, ages 0-12, the benefits of saving and to learn about money-related topics. A Social Security number and an initial deposit of $5 is all that is needed to open a Congressional Kids Club account. Dividends are earned on every dollar and prizes are awarded at specific balances to encourage ongoing savings.

Prize Levels: $100, $250, $500, $750 and $1,000

Additional benefits include:

Ability for parents to transfer money electonically into the account
Online Banking and Teller 24 make checking balances and transferring money easy
Googolplex internet link with financial literacy information provided by CUNA and specifically geared toward kids
Quarterly newsletter is mailed to all Congressional Kids accountholders and will include articles on money and kid-friendly financial education
Special offers are sent out several times during the year
Membership cards are issued to accountholders
Birthday cards are mailed to remind our Congressional Kids how important they are to us!

It’s Easy to Open Your Account!
Simply fill out a membership application and mail it to us. It’s that easy!

Congressional Kids accounts must be opened as a joint account with a parent of guardian. Annaul percentage yield on Congressional Kids accounts is included on our Current Rates page and is subject to change. Custodial and Regular Savings accounts are also available for children.

Congressional Freedom

The Congressional Freedom Account is for youth ages 13 - 17. This account provides savings and checking accounts and financial education to teenagers who have outgrown the Congressional Kids Account. It also helps teenagers prepare for some of the big decisions they will face, such as saving for college, buying a car and managing their own finances.

Benefits include:

Basic savings account
Free checking account and Visa® Check Card*
Googolplex internet link with financial literacy information provided by CUNA and specifically geared toward teenagers
Quarterly newsletter
Three FREE music downloads given to all new accountholders
A good practices bonus of $5 awarded annually to each member who does not have any NSF's on the checking account for a year

Join Today!

*A parent or guardian must be included as a joint owner. Checks are not ordered for the checking account unless requested.