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Youth Accounts

Start Kids On A Good Savings Path At Any Age

It’s never too early to plan for our kids' future. You can start saving for them when they’re born, and as they grow, teach them how to save and spend smarter. Our goal is to help kids understand how money works and why it’s important to have good savings habits. Eventually, they’ll take this knowledge with them as they transition to adult accounts.

Young girl counts money made from lemonade stand

Youth Savings Accounts
Start saving early

Starting a savings account is the foundation to building a successful financial future. Our Youth Savings accounts help encourage your child to save through fun savings goals, activities, newsletters, and games. They even have a chance to earn prizes along the way to help build confidence and want to save more. 

We do not knowingly advertise to children under the age of 13. Please see our policy and adherence to COPPA regulations here.

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Teen Checking Account​ 
Checking accounts for teens

As your child becomes a teenager and has a job, and begins to spend more of their own money, they will need new financial skills to prepare for these life experiences. Opening their first checking account can be a great new tool to help them understand cash flow, and learn how to balance their budget. This account is for ages 13 to 17. (Joint with a parent or legal guardian)

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Financial Education Programs
Free online courses

First Source offers financial education tools and games to help your child manage their money smarter, and prepare for their future. Our Banzai programs teach children, teens, and young adults, real-world finance through interactive courses. These programs are free to our Members.

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Teen Car Loan​
Helping teens learn the value of loans

Teens who are in need of reliable transportation have an opportunity to get a car with a low-rate loan made just for them. They learn what it means to take out a loan, be responsible for on-time payments, and build their credit. Youth Members must be 16 years of age and older and have an adult co-borrower.

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Teen Credit Card​
Teaching responsible spending

Another financial milestone your teen can reach is applying for their first credit card. Youth Account Members who are 16 years and older, and have an adult co-borrower, may apply for a low-rate First Source VISA® Platinum Credit Card, with terms made for teens. Making manageable purchases, paid in full each month, teens begin to build good credit.

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Scholarship Opportunities
Assistance that fits your needs

When your teen is ready to pay for college, check out our nation-wide scholarship search tool, powered by Sallie Mae®. It’s a great one-stop shop to see what’s available for college tuition assistance.

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We also offer Student Loans by Sallie Mae®. Check out the options or apply here.

Frequently Asked Questions

Is it worth opening a bank account for my kids?
Yes. It is never too early to start saving for your child’s future or teaching them smart financial habits. Plus, the earlier you start, the more dividends they’ll earn in the long run.

What is the age requirement to own a debit card?
Youth Account Members who open up a checking account (with an adult joint member) can start using their First Source debit card at age 13.

What is the best savings plan for my child?
If you want to save money specifically for a college education, you might consider a 529 Savings Plan. Otherwise, a traditional savings account is one of the safest ways to put aside money for whatever your child’s future may hold.

Can a minor open a bank account?
Youth Accounts must be opened by a parent or legal guardian.

Can you cash a check without a parent?
Youth Account Members who are 13 years of age and who have opened a Youth Checking Account (with an adult joint member) may cash their checks at First Source.

Live Smarter

We’re here to support your efforts to help your kids Save Smarter. If you’re not yet a First Source Member, start your New Member App today.


Call 315-735-8571 to discuss any questions you may have or make an appointment with one of our friendly and knowledgeable representatives today.

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Click below to start your Membership App now.

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Want your savings to work harder?

Check today’s share certificate rates effective February 24, 2024

Term Dividend Rate APY*
6 Months
$500.00 minimum balance to earn dividends
4.41% 4.50%
12 Months
$500.00 minimum balance to earn dividends
4.41% 4.50%
24 Months
$500.00 minimum balance to earn dividends
3.93% 4.00%

Share rates and yields are subject to change without notice. Early withdrawal penalties may apply. Fees may reduce earnings.
*APY – Annual percentage yield

We do not knowingly market to or solicit information from children under 13 without parental consent. We recognize that protecting children's identities and privacy online is important, and that the responsibility to do so rests with both the online industry and with parents. While First Source works to protect your personal information, you also have a responsibility.

Internet safety for children - The Internet is a public network. Children's access to the Internet can allow them to visit inappropriate websites and be exposed to unwanted risks. COPPA, the Children's Online Privacy Protection Act, protects children under the age of 13 from the online collection of personal information. Learn more about COPPA on the Federal Trade Commission's website. Parents can be proactive by installing filtering software that gives them more control over their family's Internet experience.

We recommend that minors ask their parents for permission before sending any information about themselves to anyone over the Internet.