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Savings Accounts

Youth Savings Accounts

Putting money in a savings account allows you to make money called interest (dividends)—this is money you can spend later on!  Get saving so you can afford to do all the things you dream of doing.


In-School Savings Accounts
Open a savings account at your school to earn 5.00% APY (annual percentage yield) for up to $500* saved.  No need to be a member at the credit union.   

School Savings accounts are for elementary through middle school students.  Participating schools:

 Ketchikan
Schoenbar – Tuesdays 11:36-12:11 pm
TSAS – Tuesdays 1:00-1:30 pm
Houghtaling - Wednesday s 11:50-12:50 pm
Fawn Mountain Elementary – Thursdays 8:25-9:00 am
Holy Name – Thursdays 12:00-12:30 pm
Ketchikan Charter – Fridays 11:30-12:30

Metlakatla
Charles Leask Middle School – Thursdays 7:30-8:00 am
Richard Johnson Elementary – Fridays 7:30-8:00 am

Prince of Wales
Thorne Bay – Mondays 8:00 -8:30 am
Craig Elementary – Tuesdays 7:30-8:00 am
Craig Middle – Thursdays 7:30 – 8:00 am
Klawock Elementary – Wednesdays 7:30-8:00 am

To open an in-school account, fill out a permission form and bring in a first deposit to your school on savings day (see schedule above).  No amount is too small! 

School savings accounts have other rewards too:

  • Earn $1 for every $5 in quarters saved, for up to $25 a year.
  • Receive monthly statements through your teacher
  • Win prizes, enter contests, get rewards
  • Participate at your school in drawings, contests, and educational opportunities throughout the year!
*Students who have saved more than $500 in their in-school savings accounts are encouraged to open a share certificate or regular savings account at the credit union. In-school savings balances greater than $500 are subject no dividends (interest).  Call (907) 228-6775 for more information or to discuss your account options.

 

Savings (Share) Accounts

Elementary and middle school students are welcome to join the credit union an open a savings account. A credit union savings account will earn the regular, competitive interest rate.

Savings accounts features:

  • No monthly fees
  • Low minimum balance requirement for students of $5.00
  • Competitive interest rates
  • The ability to manage your money through many account services. 
  • Access your account at the branch
  • Free coin-rolling (or pick up free coin wrappers at the credit union)
  • E-statements
  • Money in your account is insured by the National Credit Union Share Insurance Fund.
To Open an Account
  • Students need a minimum of $5.00 to open an account.
  • Two pieces of identification are required:
  • Alaska Personal ID card or Driver’s License, or certified copy of your birth certificate,  and
  • Social Security Card

High school savings accounts earn a high interest rate of 5.00% APY (annual percentage yield) for the first $500, and earn the regular, competitive interest rate for funds over $500.  High school students are also eligible to open Checkless Checking accounts.

  • High school savings accounts come with ATM cards and access to 7 no-fee Ketchikan ATM locations including the ATM at Kayhi.  Click here for a list of no fee ATMs for TFCU cards.
  • Free account services. 
  • Auto-save option: Ask us how to set up monthly transfers from another TFCU account and watch your savings grow!
  • Have a Job? You can use direct deposit or payroll deduction to save $$!
  • E-statements, go paperless!

Savings Builder Certificate

Students may not realize they can access other savings options at the credit union to earn even better interest rates.  We can help you plan!  Have a conversation with us.
 
For students, we recommend the Savings Builder Certificate: This is a time deposit account, where a commitment is made to invest funds for a certain period of time (penalty for early withdrawal) in return for a higher interest rate. Because funds can be added throughout the time period, this is a unique TFCU certificate crafted to help establish good savings habits. Some features include:

  • Open with $50 minimum.
  • Add $$ as often as you want, no minimum required.
  • Maximum balance is $2,500.
  • Certificate matures and renews every 30 days.
  • Dividend rate is the same as our 1-Year Certificate!
  • Dividends paid every month    

For more information click here
For current rates, click here

Education Savings Account

As a student, paying for college is a big investment that isn’t too far down the road.  The typical method of paying for college—taking out student loans—leads to paying a higher college bill in the long run.  Why not try a different approach? College is possible without loans!

Open a tax-sheltered Coverdell Education Savings Account (Coverdell ESA) with your parents today! The younger you start contributing, the more interest you can make, and the more money you’ll be able to save for your education expenses!

  • ESA’s earn a good interest rate.  Check out current interest rates for education accounts here
  • Set up auto-save and automatically transfer funds into your Coverdell ESA from other credit union accounts.
  •  Parents, relatives, and grandparents can contribute to your account up to the yearly limit.
  • $$ saved can be used for all sorts of education expenses or types of schooling (Think: textbooks, room and board, online classes, vocational school, graduate school, etc.)

To open an ESA bring some ID and stop by the branch today!

 

 

 
         
Phone Number: (907) 225-9063   •   CU*Talk (Audio Teller): (844) 498-8542  •   Lost/Stolen Credit Card: (800) 325-3678  •   Lost/Stolen Debit Card: (800) 682-6075
 
 
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