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

Account Features

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

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:

• UCU Mastercard (upon approval)
• Student Line of Credit (upon approval)
• Opportunities to apply for UCU scholarships

Convenient Banking

• Three ways to bank - visit a branch, use the nearest UCU or Exchange Network ATM or use UCU Online banking
• Sign up for ucublu, our online-only bank account
• Download the UCU APP and use a phone or tablet to conduct banking transactions 

Financial Literacy

With a UCU Youth Unlimited Account, your child will gain a better understanding of finances. They will watch their money grow with the benefit of compound interest, learn to use a debit card responsibly and get a head start on better money management.

Develop a Relationship With UCU

The Youth 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 for 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. Read more about UCU Student Lines of Credit and how your child could benefit.

Eligible for UCU Scholarships

Every year, UCU offers a selection of scholarships for post-secondary students geared towards a specific area of study.  To be eligible, a student must be a UCU Member for at least two years.  Opening a UCU Youth Unlimited Account for your child will put them in a position to earn valuable scholarship money in the future. 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.