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Youth Savings Account
Help young people up to age 17 engage in the fun of saving and reward them for filling up their piggy bank—and all the while, they’ll earn interest on any deposit. A parent, aunt, uncle, grandparent or friend can open a youth savings account, even for a baby, and help save for their future.
A youth account operates just like our regular account:
- Open the account with a one-time, $5 membership deposit, which is required to purchase a share of membership in the credit union.
- Deposits and withdrawals can be made in any amount.
- Acc ount interest is compounded and paid quarterly.
- Through this account, you establish membership at Extra Credit Union with access to all our services.
Account Opening Contest
Any new youth member who opens an account from September 1, 2024 to May 31, 2025, will be entered into a drawing to win a $100 account deposit in the month they opened the account. The drawing will take place on the 5th of the following month. PLUS, all youth who open an account during the 2024-25 school year will be entered for a chance to win a GRAND PRIZE $500 deposit into their account.
Plus, All Star account members ages 12-16 get a special gift package, which includes:
- ECU Drawstring Bag
- ECU Color-Changing Pencil
- ECU Color-Changing Water Bottle
Account Perks
Good Grades Pay
Middle and high school youth members get paid for every “A” and “B” on their report card through the Good Grades Pay program (up to $12 per report card).
Submit your report card after each quarter and we’ll deposit the money directly into your account. Report cards can be dropped off at a branch, emailed to FinancialEducation@ExtraCreditUnion.org, or submitted by using the form below .
Richard J. Spence Scholarship
As high school seniors, youth members can apply for a Richard J. Spence Scholarship. Five scholarships are awarded annually totaling $5,000.
Our scholarship recipients are determined by a committee and selected based on:
- Academic achievement
- Community and school involvement
- Contributions to family or society
- A written essay
Congratulations to the 2024 Richard J. Spence Scholarship winners:
- Jacob Meershaert –Armada High School, $2,000
- Izabella Medley –Almont High School, $1,000
- Nathan Halstead –Lutheran High School Northwest, $1,000
- Mackenzie Jones –Warren Woods Tower High School, $500
- Katelyn Bailey – Sterling Heights High School, $500
Youth Loans
Youth loans can teach you financial basics and help you pay for items such as prom expenses, senior packages, school trips, band camps, and more.
Get started on your application today!
FUTURITY Bonus Checking
FUTURITY checking and savings accounts enable you to:
- Access your acc ount 24/7 from anywhere.
- Save your money for your college tuition.
- Build your credit for future purchases of a new car or a home.
- Reduce and even reimburse certain service fees.
Members 16-17 years old are encouraged to have a parent/guardian on their account. Exceptions can be made for students who do not wish to have a parent/guardian on their account if two of the following criteria are met:
- The student has a cumulative GPA of 3.0 or higher
- Student completes the LearningLab+ program at ExtraCreditUnion.org
- Student sets up direct deposit
Questions? Click here for FUTURITY FAQs and more information.
Greenlight
Teach smart spending.
Greenlight is the loved, trusted debit card and money app for kids and teens that helps families raise financially-smart kids and manage every day financial tasks—and it is now available to you for free!*
*Extra Credit Union members are eligible for the Greenlight SELECT plan at no cost when they connect their Extra Credit Union account as the Greenlight funding source for the entirety of the promotion. Subject to minimum balance requirements and identity verification. Upgrades will result in additional fees. Upon termination of promotion, customers will be responsible for associated monthly fees. See terms for details. Offer ends 12/11/2027. Offer subject to change and partner participation.
FAFSA
The Free Application for Federal Student Aid (FAFSA) is used to determine who receives financial aid from the federal government to pay for college, and how much students get.
The FAFSA asks for information about you and your family’s finances, including tax returns, so you might need your parents’ help to complete it. If you need additional help, reach out to your school counselor.
Routing Number: 272477432