Youth & student
Good money habits start early
Accounts for children under 13, teenagers, and college students. No fees at any age, parental controls that fade as they earn them, and a financial education program built into all three.
Three accounts, three stages
Each one adds a little more independence than the last, and none of them charge a fee.
Summit Saver, under 13
A joint savings account earning 3.00% APY on the first $1,000, opened with a parent or guardian. No card, no fees, and a $5 opening deposit that we cover for the first thousand accounts each year.
Teen Checking, 13 to 17
A real checking account with a debit card, mobile app access, and a parent as joint owner. Overdrafts are not possible, so a teenager cannot spend money that is not there.
Student Checking, 18 to 24
Full independence with no monthly fee while enrolled, unlimited ATM surcharge rebates up to $20 a month, and an automatic conversion to Free Checking at 25.
Parental controls
Set spending limits, block categories, and get a notification for every transaction. Loosen each control as your child demonstrates they no longer need it.
Money Basics course
Twelve short lessons on budgeting, credit, and interest, written for teenagers rather than adapted from adult material. Free to every member household.
Insured, like everything else
Youth accounts carry the same NCUA insurance to at least $250,000 that every Summit deposit does.
The three side by side
A joint owner aged 18 or older is required on the first two.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Opening one together
Bring your child along if they are old enough. It is a better first lesson than any worksheet.
Bring two documents
Your photo ID and your child's Social Security card or birth certificate. That is everything the application needs.
Choose the controls together
Set a daily spending limit and decide which alerts you want. Talking it through in the branch tends to work better than adjusting it later.
Start the first lesson
Money Basics unlocks the day the account opens. Most families do the first lesson on the drive home.
Common questions
Do I have to be a Summit member for my child to open an account?
Yes, for the joint accounts. A parent or guardian must be a member and joint owner on Summit Saver and Teen Checking. Student Checking can be opened independently once your child turns 18.
Can my teenager overdraw the account?
No. Youth and student accounts cannot go negative. A transaction with insufficient funds is declined at no charge, which removes the most expensive way to learn this lesson.
What can I see as the joint owner?
Everything, including every transaction as it happens if you enable alerts. You can also set daily limits and block categories such as online gaming from your own app.
What happens when my child turns 18?
Teen Checking converts to Student Checking automatically, and you can remain a joint owner or step off the account. Nothing changes about the account number or the card.
Does Student Checking require proof of enrollment?
No. The account is available to anyone aged 18 to 24 with no enrollment verification, and it converts to Free Checking on the member's twenty-fifth birthday with no fee either way.
Is the Money Basics course worth the time?
The lessons are eight to ten minutes each and cover compound interest, credit scores, and how a paycheck is taxed. Schools in our field of membership can request the classroom version at no charge.
Start them off right
Open a youth or student account online, or bring the family into a branch and set it up together.