Teens and Money
Your parents probably give you all the things you NEED. But as a teen, you are beginning to realize that there are many things that you WANT – and those “wants” usually take money. Like developing good study habits, now is a good starting point to learn how to manage your finances. Whether your money comes from your allowance or a part-time job,now is the perfect time for you to start your quest for financial independence. Our QUEST program can help you realize a DREAM, PLAN to save, and OWN the things you want.
Tomorrow’s coming—put away a few bucks!
It only takes $5 to open a savings account and have your own CPM Federal Credit Union membership. This account makes saving easy with:
- Monthly dividends that put money in your account
- 24/7 account access through CPM Anytime Online Banking* and thousands of surcharge-free ATMs
- Member must be between ages 15 - 17
- No minimum account balance requirement
- No monthly service charge
- VISA® Debit Card
- Account access CPM Anytime Online Banking*
Youth and Young Adult Certificate Account
Start now with only $100, put away a few bucks each month, and watch your money pile up. Bonus- you earn at an awesome rate and have flexible terms with a $3,000 maximum certificate balance. Dividends may be withdrawn without penalty and you can add to principal at any time. Penalty for early principal withdrawals may apply.
Coverdell Education Savings Save up for School
Get a head start saving for college with a Coverdell Education Savings Account. You or your parents can drop in up to $2,000 each year until you’re 18, and you’ll be on your way. Get your money out—including the dividends we pay you—tax-free** if you use it for elementary, high school or college.
Scholarships and Student Loans Available
Did you know that there is a scholarship available just for CPM members? You could be eligible for the CPM Federal Credit Union Easterling Memorial Scholarship. Click here to find out more>>
Want to go to school, but need some assistance? CPM can help you with a student loan. Click here to see if you qualify.
*Mobile phone carrier rates may apply.
**Consult a tax advisor for details.