Teen Checking
| Teen Checking | |
|---|---|
| Minimum Opening Deposit | $0 |
| Minimum Monthly Electronic Deposit1 | $0 |
| Monthly Fee | $0 |
| Earn Dividends | |
| Free Debit Card | Check |
| Free ATM Access | Check |
| Free Mobile Banking | Check |
| Free Online Banking | Check |
| Free eStatements | Check |
| Overdraft Protection2 | Check |
Our Teen Checking is custom made for members ages 13 to 18. With no monthly service fees it's a great way to introduce your teen to financial responsibility. You can transfer money instantly to your teen's account via online banking, set a daily limit on their debit card, and even monitor spending with free transaction alerts!
Please note that this account requires a parent or guardian co-owner, and both the adult and teen must visit an SCE FCU branch together to open the account. Please ask your teen to bring their driver's license or school ID with them.
Basic Elements - Legal Text
1Direct Deposit, Payroll, ATM, Online Banking transfer, and Mobile Remote Deposit are considered electronic deposits made from the 25th of the previous month to the last day in current month. 2Overdraft Protection from savings or other accounts.
Rate Table: Checking & Savings
| Dividend Rate7 | APY8 | Compounding | Minimum Balance | Minimum Deposit | |
|---|---|---|---|---|---|
| Rewards Checking | 0.30% | 0.30% | Monthly | $0 | |
| Free Checking | 0.00% | 0.00% | None | $0 | |
| Fresh Start Checking | 0.00% | 0.00% | None | $0 | |
| Teen Checking9 | 0.00% | 0.00% | None | $0 | |
| Prime Savings | 0.12% | 0.12% | Quarterly | $250 | $5 |
| Super Saver | 0.22% | 0.22% | Quarterly | $0 | |
| IRA Savings | 0.40% | 0.40% | Monthly | $0 | |
| Health Savings Checking | 0.05% | 0.05% | Monthly | $0 | $50 |
| Non-Dividend Savings | 0.00% | 0.00% | Monthly | $0 | |
| Youth Savings9 | 0.12% | 0.12% | Quarterly | $5 | |
| Youth Super Saver9 | 0.22% | 0.22% | Quarterly | $0 | |
| Holiday & Vacation Club10 | 0.22% | 0.22% | Monthly | $0 | $10 |
Rates shown effective as of February 1, 2020
7Dividends are calculated on the Daily Balance Method for all accounts. 8APY = Annual Percentage Yield, and is based on the assumption that requirements will be met. Your statement will show the actual Annual Percentage Yield Earned (APYE). This may be different from the APY if the conditions are different from the above assumptions. Early withdrawal is subject to penalty on all Certificates. For example, if there are any fees, they could reduce the earnings on the account. 9Open to members under the age of 18. 10One scheduled distribution per year on both the Holiday Club and Vacation Club accounts - November 1 and June 1, respectively. Both accounts carry an early withdrawal fee of $15.