Build your savings by adding to
your share certificate a little at a time.
You can start a Youth Share Certificate with as little as $25 and add to it at any time.
Criteria to Open Account:
- Must maintain $5 in primary share account
- Youth's name is primary on account
- Minimum deposit to open Share Certificate is $25
- Share Certificate must be in youth's name as primary
- Share Certificate in youth's Social Security number
- Deposits can be added to the Share Certificate in amounts of $1 or more
- 6 month Share Certificate
- Rate is subject to change after 6 month term - will renew at current 6 month term
- Penalty for early withdrawal
The Youth Share Certificate will renew like a normal Share Certificate, until the 1st maturity after the member turns 18 years of age. At that maturity if the balance (after the dividend) is greater than or equals $500, the Share Certificate will convert to a normal 6 month Share Certificate; - if the balance (after the dividend) is less than $500, the Share Certificate will not renew and the funds will be transferred to the Share (savings) account.
United Bay Community Credit Union Youth Share Certificate earns a competitive yield and is insured up to $250,000 by the National Credit Union administration, (NCUA) a U.S. Government Agency.