BATON ROUGE, La - La Capitol Federal Credit Union recently introduced a new savings account product – the Youth Savings Account. To encourage young people to establish a lifelong habit of savings, La Cap will add $25 to each new account opened.
“When it comes to our children, we believe it’s never too early to start teaching them to save,” said Michael Hooper, President and CEO of La Capitol FCU. “Starting a child off on a good financial footing will reap benefits for them well into adulthood. That means saving early and teaching often.”
Young savers will need $25 to open an account. The account must be opened at a local La Capitol FCU branch and a parent or legal guardian must be present. Youth savings accounts will earn dividends once the balance reaches $100. No monthly service fees are charged to account holders under the age of 17.
More information can be found here.