It's important for kids to learn good money habits. Saving money consistently means you will be prepared. No matter what the future brings, your savings will be there when you need it, whether it's for a new outfit, a trip to the movies, saving to buy your first car or starting a college career.

Minnesota Valley Federal Credit Union offers higher yield accounts to youth to help build savings.

Kid learning to ride bike
Father and Child at Ocean

Accounts for ages 0-22

  • Above market interest rate on savings
  • Free checking account
  • Free 40 checks
  • Free debit card
  • Free online banking
  • Free billpayer
  • Low overdraft fees (first one free if applicable)
  • guaranteed $100 minimum reserve line of credit attached to your checking account (must apply separately for line of credit)
  • Low variable rate MasterCard Credit Card*
  • College scholarship opportunities
  • Parent-Student Education Loan
  • Student Loan Options


Savings Rates

SAVINGS PRODUCTMinimum Opening DepositOther TermsDividend RateDividends CompoundAPY*
Share Savings (S1)***$5 $5 to earn dividend0.25%Quarterly0.25%
Special Savings (S2)***$0 0.25%Quarterly0.25%
Holiday Club (S3)$0 $300 monthly maximum deposit0.60%Annually0.60%
Pays out annually November 1st
Money Market Savings (S6)$0-$9990.25%Monthly0.25%
$100,000-$249,999  2.50%2.53%
$250,000 and above2.75%2.79%
Vacation Club (S14)$0 $300 monthly maximum deposit0.60%Annually0.60%
Pays out annually June 1st
Kids Club (S15, S18, S19)$0-$5000.000.75%Monthly0.75%
Kids Club (S15, S18, S19)$5000.01 and above0.30%Monthly0.30%
Health Savings Account$10 Annual Fee Interest Bearing Checking Account0.40%Monthly0.40%
* = Annual Percentage Yield. Rate is effective as of 02/06/2024 Rates and terms are subject to change at any time based upon ALCO review and changing market conditions. Fees may reduce the earnings on these accounts. 
** = Dividend paid at pay-out date, no dividend for early withdrawal.
*** = Balances below the minimum balance will not earn interest.