OnPath Credit Union

Teen Access Checking

As your children near adulthood, they’ll need a firm understanding of finances. One of the best ways to impart this knowledge is experience; when teens have to manage their own money, they develop invaluable skills. Here at OnPath Federal Credit Union, we have the perfect learning opportunity: the Teen Access Checking account.

What are the Benefits of a Teen Checking Account?

The Teen Access account is specifically for teens age 15 to 17 with a state ID in order to open an account. Since individuals in this age range are still minors, there will need to be a joint account holder who is at least 18. Joint account holders have equal rights to an account, so you’ll be able to conduct transactions, inquire on the balance, and perform maintenance, such as updating an address. You’ll also benefit from the many features of this account, as will your teen.

No Monthly Fee

Some checking accounts have requirements you must meet to avoid a fee, but the Teen Access account has no monthly fees. You don’t have to worry about having a direct deposit every month or maintaining an average daily balance.

Online Access

You can access your account online, giving you the power to manage funds from nearly anywhere. Using the OnPath Federal Credit Union website, you can do the following:

  • Transfer funds
  • See transaction history
  • Deposit checks

As the joint account holder, you can monitor your teen’s purchases and keep an eye out for NSF or overdraft fees.

Low Opening Amount

The opening balance requirement is only $25, making Teen Access Checking of the most inexpensive accounts to open. Since there’s no minimum balance, it’s alright if the funds drop below $25 as long as they don’t go below zero. This means that even if teenagers don’t have a large sum of money, they can still start laying financial foundations.

Why Should Your Teen Have a Checking Account?

You may be wondering why teenagers need a bank account. The truth is, it’s too much to expect kids to responsibly manage their finances at 18 if they’ve never had practice. A Teen Access account gives you the power to teach your kids about money management. With accounts in their names, teens can do the following:

  • Establish good spending and saving habits
  • Learn responsibility
  • Develop a sense of independence

Why Choose OnPath Federal Credit Union?

We know our members have many choices when it comes to banking, but we’re confident that OnPath Federal Credit Union is the best. In fact, we’ve been serving our community since 1961, and we’re proud to continue the tradition of providing members with excellent financial tools and expertise. No matter which of our products you have, we promise to help you toward your goals.

Excellent Customer Service

When you have questions, we have answers. Our friendly staff is happy to walk you through the benefits of our products and help you figure out which works best for you. Whether you’re online, calling in, or visiting one of our locations, we consider you an important guest and are excited to help however we can.

Competitive Terms

Whether you’re looking at credit cards, savings accounts, or loans, you can be sure that OnPath Federal Credit Union offers competitive terms. We know our members want their money to work for them, which is why we provide a wide range of products designed for a variety of needs.

Quick Applications

Ready to open your account? We know no one enjoys paperwork, which is why we make the application process as quick and easy as possible. In fact, you can open a Teen Access account in just one visit.

* APY = Annual Percentage Yield.

1 Visit one of our 11 branch locations to open a Teen Access Account. Adult signer and state-issued ID required.

2 Free with direct deposit or $500 average daily balance. $8 with average daily balance of $200 - $499. $10 with average daily balance less than $200.

3 A flat rate and Annual Percentage Yield is paid on all balances of at least $1,000.

4 Dividends are calculated on the actual dollar amount in the account. Dividends are not paid any day the account balance falls below $1,000.