Our Youth Savings account is a smart way to start your children on the road to achieving their financial goals because it is never too early to begin saving.
Youth Savings Account
Here at Ridgewood, helping children save is a really big deal to us, and we're here to make it as simple as possible. Our Youth Savings account is a great way for children to save and learn about managing their money. The account is opened in the child’s name, providing them with a sense of independence, and they can select either a passbook or statement savings option.
Getting started is easy:
- Interested children need a Social Security card and must be able to sign or print their name to open an account.
- Any amount over $.25 can be deposited at any time
- Customers must be 17 or younger to qualify for this account.
One account per person. Offer subject to change or termination at any time. Up to $10 will be credited upon account opening and will be reported as interest income with a 1099 form. Rate and terms may change after the account is opened. Fees may reduce earnings.
*Rates are effective as of 1/17/2023, the rate and APY for balances up to $25,000 is 1.25%, and for balances over $25,000, the rate and APY is 0.25%.
**Annual Percentage Yield.
Our tools and resources
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