OnPoint Community Credit Union: Together, We’ll Help Kids Save

From our friends at OnPoint Community Credit Union

We all remember the summer days of childhood—washing the family car, mowing the lawn, and performing various odd jobs for some spare change to spend at the ice cream truck. 

Earn. Spend. Repeat.

For most children, saving doesn’t come naturally. Saving money lacks the immediate reward of spending. Yet, kids need guidance to learn the benefits of saving that will set them up for success in life. Opening a youth savings account can make all the difference in shaping a strong financial future by making the benefits of saving tangible.

Learning the fundamentals of saving at a young age will help prepare kids to navigate the difficult financial challenges of adulthood. Providing kids the tools to save for today’s goals will prepare them to save for what they want in the future. It’s never too early (or too late!) to start teaching your kids essential savings habits and how to set financial goals.


Telling your kids about the importance of building a strong financial foundation is important but likely to fall on deaf ears. For most parents, if you try to sit down and convince your kids the value of saving, you’re likely to hear a lot of “are we done yet?” Instead, try engaging with kids in a fun and interesting way.

For young kids, it can help to start by teaching them about money with hands on games. Start by showing them how to sort coins by size and color, or incorporate physical dollars and coins with their grade-school math lessons. Another fun way is to make shopping more engaging by teaching them to compare the cost of different cereals that they like. Additionally, if you give kids a small budget that rolls over week to week, you’ll be surprised at how creatively they’ll work with it. 

For older children, you can tie-in increased freedom and responsibilities with sound saving habits. What teen won’t go to great lengths for additional freedoms? By the end of high school, they’ll have things they want to save for and the ability to work to meet their goals. You might also encourage older children to begin to educate themselves about the important financial decisions they’ll face later in life. OnPoint offers free financial education resources here. 

With good saving habits, your teens will be able to develop a plan to get what they want without having to ask you for help.


When it comes to teaching and empowering kids to save, there’s no better place to start than a Traditional Savings Account. Many financial institutions offer special savings accounts for kids that are easy to set up and access, which will help encourage your child to save. 

One great option for youth savers is OnPoint Community Credit Union’s Savers Account* with 5.00% APY interest on the first $500. The only requirements are that your kid is 17 or under and is ready to make a $25 opening deposit. To reward them for hitting their first savings goal, OnPoint will contribute an additional $55. Learning to save hasn’t always been this easy, but OnPoint is doing their part to help. If you’d like to learn more about the program, visit: onpointcu.com/onpoint-savers/

There are many lessons we teach our kids that they will take with them for the rest of their lives; this is your opportunity to ensure that saving is one of them. 

*OnPoint Savers Account rate of 5.00% APY (Annual Percentage Yield) is subject to change. Stated APY is for balances up to $500; balances of $500.01 and higher earn posted Regular Savings Account rate. Account must be established for members age 17 or younger by parent or guardian with a minimum $25 deposit. Parent or legal guardian must be on the membership and present to open the OnPoint Savers Account. When primary member attains the age of 18, accounts will be converted to Regular Savings Account, earning that account’s published rate at that time. Fiduciary memberships, including UTTMA and Minor Settlement Accounts are not eligible for OnPoint Savers. One OnPoint Savers Account per member/TIN. One $55 bonus per tax ID for new members only. Cannot be combined with Refer a Friend bonus or other promotional offers.

The full account balance APY is calculated by combining the 5.00% APY earnings on the first $500 with the standard APY on the remaining balance above $500.

Federally insured by NCUA.

PDX Parent Staff
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