Wescom Financial
Wescom Credit Union | Building Better Lives for Southern Californians

Banking for Kids

Banking for Kids | Wescom Credit Union

Wescom Youth Banking and Youth Banking Plus accounts are powerful tools for teaching responsible spending and saving — even before kids and teens earn their first paycheck. By providing the next generation with checking and savings accounts before they graduate high school, you can help set them up for long-term financial success.

Four Benefits of a Youth Account

  1. Youth accounts support financial literacy by helping kids and teens learn and practice financial basics like budgeting and goal setting by teaching the importance of planning for small and big purchases.
  2. Youth accounts foster independence by promoting the skills needed to manage funds and make wise financial decisions once youth are on their own.
  3. 5.00% APY on the first $500 deposited in a Regular Youth Savings Account.1
  4. Keep your kid’s account safe with account controls and real-time notifications. Set up Account Alerts to keep track of purchases, spending, and more.
Learn More about Wescom Youth Accounts.

Take financial success a step further by giving the youth in your life a financial boost with a 529 Savings Plan through Wescom Financial Services (WFS)! Adults can support kids and teens by depositing money into these flexible, tax-advantaged accounts, which can be used to pay for various educational expenses, including:

Contributions are made with after-tax earnings, but withdrawals are tax-free.2

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Insured by NCUA

1 The 5.00% APY is earned on Youth Savings Account balances up to $500. Balances over $500, will continue to earn the Regular Savings Account rate. Fees or other conditions could reduce earnings.

2 Federal taxes and most state taxes. Consult a tax advisor for advice specific to your unique situation.

Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CUSO Financial")(“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CUSO Financial: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CUSO Financial. The Credit Union has contracted with CUSO Financial to make non-deposit investment products and services available to credit union members.