Bank Accounts for Kids

For some time, I have been wanting to open a bank account for the kids.  We currently have 529 Savings Plans for both but they don't have bank accounts.  Last Friday, I decided to take a short walk from County Auto to NEFCU on Merrick Road to kill time as my SUV was undergoing it's annual car inspection.  The week before, I received a statement from my Citibank business account showing a $30 monthly fee.  What?  Back the truck up!  Where did this come from?  Citibank did a bait and switch on me I see.  I remember sitting in on a Forest Road Elementary PTA meeting earlier this year where a representative was pitching the parent/teacher group on opening accounts for their children and thought, let me go check them out and see what else they have to offer.

I walked in and discovered a beautiful lobby, well lit office space complete with friendly faces and no waiting.  I was practically sold!  In the past, credit unions only allowed customers in if they were employees of a specific group or if you were sponsored by someone.  As a stay-at-home mom, I decided to go see if this were still so and found that it wasn't.  I learned that I could open a no-fee non-profit business account as long as I opened a personal account for myself.  Did she say no fee?  Down from $30/month to no fee?  Sold!  I also learned that there was a several youth accounts called Dollar Dog Kids Fund, Elements Teen Share Account, and the Elements Teen Checking.  The Dollar Dog Kids Fund can be opened with as little as $5 and if your child brings in their Dollar Dog Kids card, they will receive little gifts such as stickers, and plastic what nots.  As if I need more plastic what nots, but if this is what excites the kids into saving their money, I'm all for it.

Other benefits of the Dollar Dog Kids Fund include:

The Dollar Dog Clubhouse website

FREE Dollar Dog Membership Card

FREE Gifts - Receive a complimentary gift at account opening and earn additional prizes with every deposit.

Dollar Dog Newsletter

Other club benefits include kid events throughout the year and more!

Sign me up!

Valley Stream Branch Location
264 East Merrick Road
Valley Stream, NY 11582
Phone: 516.561.0030

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