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:
- UCU Mastercard
- Student Line of Credit (upon approval)
- 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
branch, use the nearest UCU or Exchange Network ATM or conduct your banking
online – it’s your choice. You have the option to enroll in ucublu
- the Ukrainian Credit Union’s completely Virtual Account. For even more convenience, your
child could download the UCU APP and use a phone or tablet to conduct all
banking transactions offered by the APP.
Financial Literacy
A UCU Youth
Unlimited Account will also help your child better understand finances – which
is an important life skill to have. From depositing money and watching that
money grow with the benefit of compound interest to learning to use a debit
card responsibly, the youth account will give your child a head start to better
money management.
Develop a Relationship With Your Credit Union
In addition
to all the banking features, a 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 targeted for students such as
UCU Student Lines of Credit. It is available to eligible post-secondary
students to help cover the cost of education and living expenses with
attractive payback options. 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 to post-secondary students that are geared
towards a specific area of study. To be eligible, a student must be a Member
of UCU 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.
Summer Employment Opportunities
UCU offers
summer employment opportunities to UCU Members who are studying at a
post-secondary institution. Your child will become a UCU Member when you open a
Youth Unlimited Account, giving your child the opportunity for potential summer
employment.
To open a
Youth Unlimited Account please visit your nearest UCU Branch.
No comments:
Post a Comment