First Northern Makes Saving Fun
Teaching your children the value of saving money and financial responsibility, while perhaps sounding a little boring to them now, will prove to be invaluable when they are older. First Northern has great Savings account plans designed especially for our younger members.
Moola Moose Account - Just $5 establishes the child's membership, who then starts to learn the importance of making good financial decisions by sticking with a credit union membership. This account is perfect for children age 12 or younger.
Compass Club Account – A plan for teens you can open with a minimum deposit of only $5, or if your child has a Moola Moose Account we’ll transfer it over automatically. This account plan is designed to give your child a little more information about the importance of sound financial savings and planning.
Start Saving for College while they are Young
The Coverdell Education Savings Account is a tax-deferred plan that lets you contribute and make deductions specifically for education expenses. Accounts are available as a regular Share Account or as Certificates (minimum $500 initial deposit). Both options are great for setting aside the money your child will need for future college expenses.
We recommend you consult with a tax advisor to have a full understanding of how this program works and, as is the case with all your accounts at First Northern, your savings are federally insured by the NCUA (National Credit Union Administration), an agency of the U.S. Government, for up to $250,000 per member.
Set up an account today and discover the benefits of membership.