Young Adult Account (Ages 15 - 23)
As you begin your journey toward financial independence, you need plenty of helpful tips and advice from sources you trust.
This account provides an easy way to save as well as educational materials, information and access to products that will further promote a positive financial future.
A Young Adult Account includes:
Effective Date: Wednesday, October 20, 2021
|Account||Dividend Rate||APY*||How to Open|
|Young Adult Savings Account||$5 min to earn||0.010%||0.01%|
*APY = Annual Percentage Yield. All dividend rates and APY may change at any time, as determined by GLCU Board of Directors. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts. Penalties apply for early withdrawal from Share Certificates and Holiday Savings Accounts. Additional account information is provided in separate Account Disclosures.
**Balances up to $10,000 will earn the stated dividend rate and the portion of the balance over $10,000 will earn the standard savings dividend rate. Dividends will be paid on ONE FREE Checking Account per member. Fees could reduce earnings. Also applies to Teen Checking Account.
Savings-only membership may be subject to qualifications to avoid a monthly fee. See fee schedule for full details.
Minimum requirements to earn Free Checking dividends:
- Maintain a monthly Direct Deposit of $500.00 or more.
- 15 signature-based debit card purchases (no returns, PIN or ATM) totaling $150 or more. All purchases must be cleared and posted to your transaction history within the current month. Authorized or pending purchases do not qualify.