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Youth Accounts

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Prepare Your Children for a Life of Financial Success

We understand that saving for a child's education can be a challenge, especially when trying to balance it with your normal day-to-day expenses and long-term goals like retirement. There’s more than one way to set money aside for your child’s education. Different Methods provide different benefits. The choice you make depends upon what works best for you now.

Young Savers Account

The financial lessons children are taught during their formative years, even on the most basic levels, greatly influence the decisions they make once they start earning and handling their own money. Start your child on the right track by opening a Young Savers Account.

With a Young Savers account, a child can start learning about how a savings account can help them earn money through dividends. They will also have the opportunity to make deposits to their account and withdrawals.

Benefits of Young Savers

  • Start building your child’ savings with as little as $5
  • No monthly service fees
  • No minimum account balance fees
  • Available for children under 18 years old who qualify for membership
  • Dividends are compounded and paid monthly
  • Eligible for a Grow With Me Account

To open an account visit your nearest BRANCH or call 800.550.5328.


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Want to Help the Child in Your Life Save Even More?

Consider opening a Grow with Me Account, a great way to save monetary gifts children receive during the year!

Grow With Me® Account

The Grow with Me Account is a unique high-yield savings account that grows with the child. It allows the child to develop good financial habits early in life so they have a head start with their money management skills through the age of 18.

Benefits of the Grow With Me® Account

  • Start growing an account for the child in your life with as little as $500**
  • Each year, family, friends, and relatives can help grow this savings account even faster by contributing up to $1,000 in new money deposits, or you may transfer up to $1,000 from the child's Young Savers Account***
  • For the first 12 months, the account starts as a certificate and earns a 4.473% APY*
  • After the first 12 months, the dividend rates becomes variable and the account earns the Fed Funds Rate, plus 1%*   VIEW CURRENT RATES
  • Upon the teens 18th birthday, the account will automatically convert to a Student Rewards Checking Account — right when they need it the most!

To open an account visit your nearest BRANCH or call 800.550.5328.


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Coverdell Education Savings Account (CESA)

The Coverdell Education Savings Account was created to help parents pay for a child's education at any level — from kindergarten through high school and beyond.

The Coverdell Education Savings Accounts (CESA) historically has been restricted to an annual contribution limit of $2,000. You do not get a tax deduction when you put the money into the account, but the tax-free earnings potential is tremendous, and the withdrawals are tax-free, too — as long as they are used for education. Consult a tax advisor for details.

Take a look at the earnings potential: If you contribute the maximum for a newborn child every year until the child is 18, and you earn an average investment rate of 6%, the account will grow to about $70,000.

How it Works

  • Anyone under age 30 can be the beneficiary of a Coverdell
  • You may be eligible for a full contribution ($2,000), a reduced contribution or no contribution at all, depending on your modified adjusted gross income (MAGI) for the year
  • Anyone can contribute to the CESA for your child, such as a grandparent or friend, up to a cap of $2,000 per year, per beneficiary
  • If the original beneficiary does not go to college, the CESA can be transferred to any member of your family — though all beneficiaries must be under the age of 30

To open an account visit your nearest BRANCH or call 800.550.5328.


Take the Safe Online Surfing Internet Challenge

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What do more than 870,000 students across the nation have in common?

Since 2012, they have all completed the FBI’s Safe Online Surfing (SOS) Internet Challenge. Available through a free website at, this initiative promotes cyber citizenship by teaching students in third through eighth grades how to recognize and respond to online dangers through a series of fun, interactive activities.


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Visit Your Nearest Justice Federal Branch

Call Us 800.550.5328

Important Legal Disclaimers and Information

*APY = Annual Percentage Yield. The 12-Month introductory dividend rate is current as of October 1, 2019 and subject to change. Rate 13+ Months may change on the first day of each calendar Quarter based on the changes in the Federal Funds rate (index), to which we add a margin of 1%.

**Opening deposit: $500 minimum, $10,000 maximum.

***Annual contributions: Up to $1,000 maximum. Opening deposit and annual contributions in new money or funds transferred from the child's Young Savers Account. New money is either: (1) Funds from another financial institution. (2) Funds that have been on deposit in a Justice Federal account for 30 days or less. Account subject to a penalty if funds are withdrawn prior to maturity date. All dividends will be forfeited if the Grow With Me account is closed prior to the teen's 18th birthday. Fees or other conditions may reduce earnings. Account must be opened for a child, grandchild, or other family member under the age of 18 using their Social Security number. Family member or legal guardian must have Justice Federal membership for minor to be eligible for this account.