Do you have special savings programs for my children?
Yes. AgFed offers an All-Stars account for children up to 12 years of age and a Young Millionaires Club for children ages 13 to 17. Both of these programs offer savings accounts with no fees and other advantages.
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Is there a minimum balance requirement or monthly service fee to maintain a Youth Savings account?
A $5 minimum share must be maintained to receive dividends. There are no monthly service fees for Youth Savings accounts.
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If a member is under the age of 18, can they apply for a loan, Visa debit card or overdraft protection?
If a member is a minor, they cannot apply for a loan or for overdraft protection. However, members who are 16 to 17 years old may have a checking account with a debit card, with a $250.00 daily limit, when a parent or guardian is joint on their membership.
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Can I open multiple youth savings accounts for my child?
Only one youth savings account may be opened per Social Security number.
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What happens to my child's Young Millionaires account when they turn 18?
Your child's account will automatically transfer into a regular share savings account.
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Can my child enroll in Online and Mobile Banking?
Young Millionaires accountholders ages 13-17 may enroll in Online and Mobile banking.
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Can my child get a debit card?
Your 16-year or older child may get a debit card for their account with a $250.00 limit.
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How can deposits be made into Youth Savings accounts?
Deposits can be made by electronic transfers, at any ATM accepting deposits, at any AgFed or shared branch and by mobile deposit.
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Does a Youth Savings Account require a joint owner?
Youth Savings accounts require a parent, legal guardian or grandparent as a joint owner on the account.
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