UCU Youth Unlimited Account – Much More Than a Savings Account

The UCU Youth Unlimited Account provides your child with more than just a bank account – it will help your child learn about the importance of saving, the benefits of earning compound interest and the many lessons of financial literacy.

Available for Canadian citizens or permanent residents up to the age of 24 who attend school full time, this account will provide all the banking services your child will need to develop lifelong healthy financial habits.

UCU Youth Unlimited Account Benefits

As your child grows and matures, UCU automatically adds new benefits to the youth account at three distinct age points.

Basic Common Account Benefits:

• Free deposits and withdrawals
• No monthly maintenance fees
• No minimum balance required
• Preferred interest on the first $1,000 

Age 11 - Benefits Added:

• Free UCU Youth Unlimited Debit Card
• Free deposits and withdrawals at UCU & The EXCHANGE Network ATMs
• 3 Free ATM withdrawals at any bank 

Age 16 - Benefits Added:

• Free personalized cheques
• Free unlimited chequing
• Free bill payments

Age 18 - Benefits Added:

• Student Line of Credit (upon approval)
• UCU Collabria Cash Back Mastercard®
• Opportunities to apply for various UCU scholarships

A full list of UCU Youth Unlimited Account services and benefits can be found here.

Convenience

Visit a local branch, use the nearest UCU/ Exchange Network ATM or conduct banking online – it’s your child’s choice. For even more convenience, your child could download the UCU app and use a phone or tablet to conduct banking transactions.

There is also the option to enroll in ucublu, the Ukrainian Credit Union’s Virtual Account.

Financial Literacy

The Youth Unlimited Account will give children a head start on effective money management.

Your child will:

• watch their account earn money with the benefits of compound interest
• learn to use a debit card responsibly
• build a good credit rating with their first credit card

Develop a Relationship with Your Credit Union

In addition to the many banking features, the Youth Unlimited Account will provide a springboard for your child to develop a personal relationship with UCU Branch staff.  

This will demystify the banking experience and give your child access to products and services targeted at students, such as UCU Student Lines of Credit which is available to eligible post-secondary students to help cover the cost of education and living expenses with attractive payback options.

Eligible for UCU Scholarships                                               

Opening a UCU Youth Unlimited Account for your child will put them in a position to earn valuable scholarship money in the future. Every year, UCU offers a range of scholarships to post-secondary students. To be eligible, a student must be a Member of UCU for at least two years. Read more about the UCU Scholarships program and how it could help your child.

To open a Youth Unlimited Account please visit your nearest UCU Branch or call 1.800.461.0777 for more information.