Youth Accounts

Fat Cat and HeadStart can bring youth one step closer to managing their own finances.

To open either account, please contact your preferred branch as we're unable to process online applications for these accounts.

Fat Cat

It's never too early to begin teaching kids about money and financial literacy. Get them on a fast track to saving and good financial habits with Fat Cat®. This savings account is available to children from birth to 12 years.

Click here to view a summary of our account services and related fees.

Account features

Account type: Savings
Daily interest: 1.25% p.a.
Interest calculated daily and paid monthly at the rate per annum (p.a.).
Detailed monthly account statement or a passbook for record-keeping.

Common benefits, all the time

  • Deposits are 100% protected and guaranteed by the Deposit Insurance Corporation of Ontario (DICO).1
  • Bank ding-free®. Use your Member Card® debit card at any credit union ATMs on THE EXCHANGE® or ACCULINK® networks across the country.2
  • 24/7 online, mobile and ATM access, or in-branch personal service, Monday to Saturday, where the espresso is always on us!

Headstart®

Our chequing account for students gives them the start they need to begin managing their own finances. Available to youth between the ages of 13 and 21 years.

Click here to view a summary of our account services and related fees.

Account features

Account type: Chequing
Daily interest rate: 0.50% p.a..
Interest calculated daily and paid monthly at the rate per annum (p.a.).
Five free transactions each month of the following types:
-    Personal cheques. Otherwise $0.50/transaction.
-    EFT withdrawals. Otherwise $0.50/transaction.
-    Debit or point-of-sale (POS) purchase. Otherwise, $0.60/transaction.
Free withdrawals, whether in-branch, online or at any of our ATMs.
Free transfers, whether in-branch, online or at any of our ATMs.
Free deposits whether in-branch, by electronic fund transfer (EFT) or at any of our ATMs.

Common features, all the time

  • Deposits are 100% protected and guaranteed by the Deposit Insurance Corporation of Ontario (DICO).1
  • Use our mobile banking app on your smartphone to deposit a cheque directly to your account using the secure Deposit Anywhere™ service. Learn more about it here.
  • Bank ding-free®. Use your Member Card® debit card at any credit union ATMs on THE EXCHANGE® or ACCULINK® networks across the country.2
  • 24/7 online, mobile and ATM access, or in-branch personal service, Monday to Saturday, where the espresso is always on us!

1 Unregistered eligible deposits up to $250,000 are fully protected by DICO, and eligible registered deposits such as an RDSP, RESP, RRSP, RRIF and TFSA are fully insured. For more information, visit www.dico.com or call 1-800-268-6653.

2 Otherwise, $1.50/transaction when using all other ATMs outside these networks, or $3/transaction when using ATMs outside of Canada.

Member Card® is a registered certification mark owned by Credit Union Central of Canada, and is used under license.

THE EXCHANGE® is a registered trademark licensed for use in Canada by Ficanex Service Limited Partnership.


 

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