Youth Savings Certificates help UBCCU’s youngest members build their savings over time.

A Youth Savings Certificate from United Bay Community Credit Union is designed to help our younger members develop healthy saving habits.

The requirements to open a Youth Savings Certificates are simple:

  • Be under the age of 18
  • Have an active primary account in the child’s name
  • $25 minimum investment

Terms for Youth Savings Certificates are simple too:

  • You can add to your Savings Certificates anytime with a minimum of $1 deposit.
  • In six months, you can take out your money or let the certificate roll over at the for another six months at Current Rates.
  • Interest is compounded quarterly and deposited to your savings account.

Youth Savings Certificates act like normal Savings Certificates until the owner’s 18th birthday. If the balances at that point after dividend is greater than or equal to $500, the Savings Certificate will convert to a normal six (6) month certificate. If the balance is less than $500, the certificate will not renew and the balance will transfer to the owner’s Primary Savings Account.

United Bay Community Credit Union Youth Savings Certificates earn a completive rate and are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government.

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