Youth Savings

Youth Savings  --  Our Youth savings account offers young children an opportunity to learn about financial basics in a fun environment. A minimum deposit of $5 is required to open this account. With quarterly newsletters and a terrific Kirby Kangaroo website that includes stories, coloring pages, games and jokes -- your child can learn the value of saving.


    Here are some ways to teach your child financial responsibility:

  • Preschoolers - Work on money facts and the concept of trading.  Teach children to identify different coins and bills, where money comes from, and how to make choices with the amount they have to spend.  For example, set up a play toy store at home, or have your child help decide between two items at the grocery store.
  • Kids ages 6 to 8 - Activities should focus on money skills such as setting a monthly saving goal, managing an allowance, and depositing money in a savings account.  They can learn how to make change, look for bargains, and estimate the total of several purchases.
  • Kids ages 9 to 12 - In this age group children can work on smart money habits such as comparison shopping and understanding how a checking account works.  Have them set up a weekly spending plan and money diary to help determine their allowance and learn goal setting.
  • Teens - We offer tools to help you coach your teenager on successful managing and budgeting of their money. Gaining these skills over a few years takes away the stress of learning that in addition to managing college or living independently.


Coverdell Accounts

Parents are often concerned about saving for future education expenses. We offer the Coverdell Education Saving Account (click to open an e-brochure) to help you plan for their future. A member service representative can open a Coverdell account for you, and help automate small contributions with every paycheck to make saving a little easier.



BONUS LINKS:
Our Kirby Kangaroo Club website* and newsletters will help your child learn:

  • Basic financial terms and how to identify a need vs. a want
  • To think about the consequences of poor money choices
  • How to practice basic budgeting by dividing their money into save/spend/share categories
To encourage an early savings habit, children who make their own savings account deposit of $5 or more in person at any ACMG Federal Credit Union branch are entered into our quarterly prize drawing!  It is our belief that it’s never too early to begin planning for a healthy financial future.


Educational TV Programs
- BizKid$ is a half hour television series airing on WCNY (Syracuse), that entertains & teaches elementary and middle school students about making and managing money.  The program is exclusively underwritten by America’s Credit Unions—a coalition of credit unions, leagues, foundations, affiliated system organizations and service providers, including the New York Credit Union Foundation. Kids can send in their stories and if lucky, they could be on the TV show!  Visit the BizKid$ website**


*ACMG provides access to the Kirby Kangaroo Club website. We understand how valuable and important privacy and online protection is for children and their parents.  This site will only collect the amount of personal information which is reasonably necessary to allow a child’s participation in the Kirby Kangaroo newsletter and the online activities which the Kirby Kangaroo site offers. View the entire Kirby Kangaroo Kids' Privacy Policy.
**ACMG Federal Credit Union supports the New York Credit Union Foundation and this youth initiative. ACMG is providing a link to the Biz Kid$ website as an educational tool for parents. We understand how valuable and important privacy and online protection is for children and their parents. View the Biz Kid$ Privacy Policy.