Teen Savings Account Options
Homer and Varsity Have Them Covered
Homer Savings Account
This account is designed with our youngest members in mind. Beginning to save early in life builds good financial habits they can carry into adulthood. Homer's Club Savings accounts are available to those age 0-12 years old.
Who is Homer? Homer is the RRCU Lion mascot.
Ready to give them their own Debit Card with Parental Controls? Try Greenlight, on us!
Homer Account Benefits
 Keep a $5 Minimum Balance | Membership Fee is Waived | No Monthly Fees |
Pays Quarterly Dividends | Birthday Postcard from Homer | Free Gift for your Birthday |
Varsity Teen Savings Account
Varsity Club Savings transitions teens into solid money management habits gradually. This account is strictly for teens 13-17 years old.
Ready to give them their own Debit Card with Parental Controls? Try Greenlight, on us!
Varsity Teen Account Benefits
Keep a $5 Minimum Balance | Membership Fee is Waived | No Monthly Fees |
Pays Quarterly Dividends | Online Banking Access | Varsity Club Checking1 available |
1Varsity Checking/Savings automatically transitions to Basic Saving/Checking at age 18. Basic Checking Monthly Fee ($5) will be waived for members transitioning from Varsity until age 21. Monthly fee is waived indefinitely with eStatement Package.
★★★★★ Was a very polite lady that was helpful in explaining everything to a tee...son enjoyed experience. --Reginald J.
Teen Account FAQs
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DO YOU HAVE SAVINGS ACCOUNTS FOR TEENS?
Yes! We love helping young people learn about money management and saving for the future. Our Varsity Teen Savings account pairs well with this checking account, and you can learn more about it here.
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HOW LONG DOES IT TAKE TO RECEIVE MY DEBIT CARD AFTER OPENING A VARSITY CHECKING ACCOUNT?
Once you open the Varsity Teen Checking account, we can instantly issue you a card at any branch with a lobby. If you open an account online, you should receive it by USPS within 3-5 business days. If you open in-branch, we have instant-issue available at all lobby locations.
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DOES OVERDRAFT PROTECTION COME WITH THIS CHECKING ACCOUNT?
Yes. Members can opt into overdraft protection on their checking accounts. With the overdraft protection on a Varsity Teen Checking account, we’ll transfer funds from the teen or primary member’s savings account to cover checking charges if needed. For repeated issues, consider a pre-paid gift card until the teen is better at budgeting.
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WHAT HAPPENS WHEN WE OPEN THIS ACCOUNT AND MY TEEN TURNS 18?
Before the account holder turns 18, we’ll mail a letter explaining the options for converting it into another account type. If your teen doesn’t request any specific action, we’ll automatically transition it into a Basic Checking account.
Note: Teen can sign up for eStatements before turning 21 to avoid a $5.00 monthly fee with Basic Checking.
SEE OUR CHECKING ACCOUNTS
Want to see what comes after Teen Checking accounts? We have several other checking and savings accounts designed to meet the needs of our members. Turning 18 soon? See our Basic Checking, Teal Advantage, and more.