Discover the best Savings Account for kids & teens

Finding the best kids bank account means setting your child on the path toward a healthy financial future.

Kids Savings Account Rate (ages 12 & under)

Our competitive Kids Savings Account rate is the perfect way to teach your children about compound interest.

Account Name
Minimum to
Earn APY*
Dividend
Rate
APY*
Account Name
Youth Savings
Minimum to
Earn APY*
$25
Dividend
Rate
0.25%
APY*
0.25%
Effective September 14, 2022

*APY – Annual Percentage Yield. Rates are variable and may change after account is opened. Fees may reduce earnings. No minimum opening deposit is required.

*APY – Annual Percentage Yield. Rates are variable and may change after account is opened. Fees may reduce earnings. No minimum opening deposit is required.

Open Your Youth Savings Account:

old man counting coins with young boy ready to open a kids savings account

It's Never Too Early: Open a Kids Savings Account Today

Our Youth Savings Account is the perfect way to start teaching your child (ages 12 and under) about money. Easily transfer funds between accounts and monitor balances with mobile banking and online banking. Is your child older? Check out our Teen Savings Account (ages 13-17).
No Opening Deposit Requirement

No deposit is required to open a Youth Savings Account! Show your child how to start at $0 and save for future success.

No Monthly Service Fee

With no monthly service fee, all of your child's money stays directly in their account.

Free Coin Counting Machines

Turn extra coins into additional savings with free Coinstar transactions at most branch locations.

Free Identity Protection

Protecting your identity is important no matter your age. ID ProtectTM is included with your membership.

What You Need to Open a Youth Account

man sitting next to young girl holding a tablet
  1. Must Have Joint Owner Present

    A parent/guardian/adult relative must be present at the account opening.

  2. Social Security or Tax ID card

    You must bring a Social Security or tax ID number for both the child and joint owner.

  3. Identification

    You must bring your school ID or government-issued ID.

Free Gifts & Learning Guides

The gifts keep getting better! When your child opens their own Youth Savings Account they'll become part of the Paw Squad or Club Rising.

Parents and grandparents can download our Free Money Talks Guides, which will help get the money conversation started with your kids no matter their age!

  • FREE enrollment in our exclusive youth and teen clubs!
  • FREE gift: Arizona Humane Society plush puppy or Phoenix Rising Soccer Ball.
  • Discounts for Arizona Humane Society activities and Phoenix Rising match tickets.
  • Download our FREE Money Talks Guide.
man and pregnant woman sitting with a young boy pointing at learning guide

Teen Savings Account Rates (ages 13-17)

Our Teen Savings Account teaches your teen the importance of money management and how interest impacts investments.

Account Name
Minimum to
Earn APY*
Dividend
Rate
APY*
Account Name
Teen Savings
Minimum to
Earn APY*
$25
Dividend
Rate
0.25%
APY*
0.25%
Effective October 1, 2022

*APY – Annual Percentage Yield. Rates are variable and may change after account is opened. Fees may reduce earnings. No minimum opening deposit is required.

*APY – Annual Percentage Yield. Rates are variable and may change after account is opened. Fees may reduce earnings. No minimum opening deposit is required.

Open Your Teen Savings Account:

teenage girl on mobile device looking at her savings account

The Best Teen Banking Account for Saving!

Arizona Financial's Teen Savings Account is the perfect tool to encourage your teen (ages 13 - 17) to save. Easily transfer funds between accounts and monitor balances with mobile banking and online banking. To open a Teen Savings Account, stop by one of our branch locations or schedule an appointment.
Affordable Savings Account

Arizona Financial requires $0 to open our Teen Savings Account. With no monthly service fee, this account is affordable and a great way to start your teen on the path to saving.

Easy To Open

Applicants will need to show a current ID (school ID, driver's license, state ID, etc.) and Social Security or tax ID number. If you wish to add a joint owner, they must be 18 or older.

Free Coin Counting Machines

Turn extra coins into additional savings with free Coinstar transactions at most branch locations.

Free Identity Protection

Protecting your identity is important no matter your age. ID ProtectTM is included with your membership.

Youth Share Certificate Rates

Enjoy fixed, steady growth for long-term savings with Arizona Financial's competitive Share Certificate rates.

Term
Minimum to
Earn APY*
Dividend
Rate
APY*
Term
6 Months
Minimum to
Earn APY*
$1,000
Dividend
Rate
1.49%
APY*
1.50%
Term
12 Months
Minimum to
Earn APY*
$1,000
Dividend
Rate
1.74%
APY*
1.75%
Term
18 Months
Minimum to
Earn APY*
$1,000
Dividend
Rate
1.98%
APY*
2.00%
Term
24 Months
Minimum to
Earn APY*
$1,000
Dividend
Rate
2.08%
APY*
2.10%
Term
36 Months
Minimum to
Earn APY*
$1,000
Dividend
Rate
2.37%
APY*
2.40%
Term
48 Months
Minimum to
Earn APY*
$1,000
Dividend
Rate
2.47%
APY*
2.50%
Term
60 Months
Minimum to
Earn APY*
$1,000
Dividend
Rate
2.57%
APY*
2.60%
Effective November 22, 2022

*APY – Annual Percentage Yield. Minimum opening balance and minimum to earn dividends is $1,000 for all Certificates. Dividends accrue from date of deposit and are compounded and credited monthly based on the average daily balance. Withdrawal of dividends prior to maturity will reduce your earnings. Certificates that renew automatically will receive the rate in effect on the date of renewal. There is a 10-day grace period at maturity. Non-renewals do not earn dividends after maturity. You have agreed to leave the principal of this account on deposit for the full term stated on your Share Certificate deposit receipt. If all or part of the principal is withdrawn before the maturity date, the Credit Union may charge you a penalty. We may grant a penalty waiver in the cases of the owner's death or for withdrawals payable to an IRA owner as a normal post 59 ½ distribution. Withdrawals resulting in a balance less than the required minimum must be closed. Penalty amounts may exceed earnings.

*APY – Annual Percentage Yield. Minimum opening balance and minimum to earn dividends is $1,000 for all Certificates. Dividends accrue from date of deposit and are compounded and credited monthly based on the average daily balance. Withdrawal of dividends prior to maturity will reduce your earnings. Certificates that renew automatically will receive the rate in effect on the date of renewal. There is a 10-day grace period at maturity. Non-renewals do not earn dividends after maturity. You have agreed to leave the principal of this account on deposit for the full term stated on your Share Certificate deposit receipt. If all or part of the principal is withdrawn before the maturity date, the Credit Union may charge you a penalty. We may grant a penalty waiver in the cases of the owner's death or for withdrawals payable to an IRA owner as a normal post 59 ½ distribution. Withdrawals resulting in a balance less than the required minimum must be closed. Penalty amounts may exceed earnings.

Open a Youth Certificate:

young woman with daughter laying on floor laughing

Invest Early With a Youth Share Certificate

Opening a Share Certificate is a great longer-term savings option for your child’s financial journey that earns a higher rate of return than a basic Savings Account.

  • $1,000 Minimum Opening Deposit.
  • $1,000 Minimum Balance to Earn Interest.1
  • No Monthly Service Fee.
  • Choose Terms Ranging From 6 Months to 5 Years.

UTMA Custodial Account

young parents on floor playing with baby

Open Your UTMA Account:

Smart Guide: Money Talks Guide for Parents & Grandparents

Money Talks guide cover phot0
Smart Guide

Money Talks Guide

Inside the Guide

Learn how to teach your kids about saving, spending and sharing money.

  • Get financial topics categorized by age range
  • Includes action ideas for practical ways to talk with your kids about money.

 

Kids & Teen Resources

Blog Post

Parents' Guide to Kids & Money

As parents, we strive to teach our kids things like good manners, social skills, how to cook – life skills that will help them grow into independent, young adults. Money management should be part of that as well.

Read More
Blog Post

5 Money Mistakes You May Be Teaching Your Kids (And How to Stop)

Let’s be real. As parents, we may be able to rattle off wise words about money, but we don’t always live by them. What are the financial lessons you're teaching your children?

Read More
Blog Post

5 Steps That Make Financial Adulting Easier

Turning 18 opens the doors to a lot of responsibility! While there’s no secret to successful adulting, taking five financial steps as you enter young adulthood is a smart way to build a solid foundation for your future.

Read More

Frequently Asked Questions

Can I open a Youth or Teen Savings Account online?

To open a Youth or Teen Savings Account, stop by one of our branch locations. These accounts cannot be opened online.

  • A parent/guardian/adult relative must be present at the account opening and will be added as a joint owner on the account.
  • You must bring a Social Security or tax ID number for both the child and joint owner.
  • You'll also need your school ID or government-issued ID.
What is the best age to start teaching my kids about money?

Experts recommend introducing basic financial topics to kids as early as preschool. Our FREE Money Talks Guide can help you get the conversation started, not matter your child's age. 

Download this free guide today

Can I open a Share Certificate online?

If you’re an existing Arizona Financial member, you can add a Savings Account, Money Market or Share Certificate through online banking:

  • Log in to your online account from a desktop or laptop (this form is not currently available in the mobile app)
  • Click on “Additional Services” from the blue bar at the top of the page
  • Select “Secure Forms” from the options provided
  • Select “Open Additional Accounts”
  • Fill out the form with your request and we’ll take it from there.
  • The new account will be opened within 2 business days
For a more personalized touch, stop by one of our branch locations or schedule an appointment to open an account with one of our representatives.
How old does my child need to be to open a checking account?

Once your child reaches 13 years old, they are eligible to open a Teen Checking Account at Arizona Financial. 

A Teen Checking Account is a great option for building upon the money lessons your child has already learned. It can be used as a tool to help them grow their financial independence with additional features like online and mobile banking and debit card access.