Youth Savings

Teach your kids to save money and point them down the pathway to financial freedom.

Learning to save money is an essential life skill.

Teach financial responsibility by opening an Account for your sons and daughters or grandchildren.. Teaching kids about money at an early age helps them understand saving and spending, so they can make better decisions when they venture out on their own. Give your kids a headstart on the path to financial freedom by showing them the pathway now while they’re still at home.

First, you open a Savings Account in the minor’s name. Then, we recommend adding a Bright Start account for kids ages 0-17 years. Here’s why we recommend a Bright Start account:


  • Teach Kids How to Save. Having both Savings and Bright Start accounts makes it easy to explain “some for now, some for later.”
  • Teach Financial Responsibility. Teaching kids that just because you have money doesn’t mean you should spend it all!
  • See your Money Grow Faster. Bright Start accounts earn a higher dividend rate on balances up to $2500

Most people look back at what they remember about banking as a child, and what stands out is the candy they got when they went to the bank with their parent. Our deal is a little sweeter. We love seeing an 8 year old come in to make a deposit after their birthday, or a super successful lemonade stand sale. They hand the teller their own membership card, keep their receipt and are proud of what is theirs. Even better is when they are teenagers and want to go to buy something at the mall, a prom dress, or their first car. They are ahead of the game because they learned early.

Additional Information

A Birthday Gift from Meridia

Here’s some “icing on the cake” for youth accounts: if a deposit of $25 or more is made to a youth account during the minor’s birthday month, Meridia will deposit an additional $5. Yippee!

Is there  a new addition to your family? Open an account with a deposit of $25 or more for an infant before they are 6 months old, and we will give them an extra gift of $5!

Bright Start Withdrawal Limitations

Bright Start accounts have a limitation on the withdrawals that can be taken. If an account holds more than $1500, a member can withdraw from the account with no fees. However, if the account balance is under $1500, there is a 20% penalty on the withdrawal amount. Note: sometimes this fee can be waived at the discretion of management if the member explains the withdrawal needs.


Balance $1-$2,5001.15%1.16%
Balances above $2,500 earn Regular Savings Rate0.30%0.30%

APY = Annual Percentage Yield.

Our Bright Start account is paid dividends based on a split rate tier structure and the account's average daily balance for the quarter.  These two calculations are combined to provide an APYE (Annual Percentage Yield Earned) for your quarterly dividend.  This combined APYE is shown on your statement as a split rate.

Withdrawal fees apply if withdrawals are made from Bright Start Account. See the Fee Schedule for Details. Fees could reduce earnings on your account. Dividend rates may change at any time.

Updated July 21, 2024


The accuracy of our calculators and their applicability to your circumstances are not guaranteed. You should consult with a qualified professional regarding your particular circumstances.

Interest Rate
Times Compounded / Yr
Total Savings$


Withdrawal fee if balance is below $1500
(can be waived in special circumstances)
20% of withdrawal
More than 6 transfers per month (per Reg D)$3 each
Non-Sufficient Funds (for attempted transfer)$29.99
Other fees may apply. Refer to our full fee schedule for further information. Fees could reduce earnings on your account.

Frequently Asked Questions

When should I open an account for my child or grandchild?

The earlier the better! Starting off their savings when they are infants helps you save for them, and hand off a good habit when they are old enough to understand how money works.

Why open an account at Meridia?

We offer many perks to our youngest members that make saving fun and rewarding, such as the birthday deposit, having their own Meridia membership card, and how cool it is to do their own deposits!

Can my child open an account on their own?

We will allow a minor age 14 or older, with photo identification to open an account on their own. If they are 13 or younger, an adult (parent, grandparent, guardian) age 18 or older is required as a joint owner. Anyone (including minors) opening an account must present valid proof of address such as a driver’s permit or license, or a pay stub. If a parent listed on the birth certificate is a Meridia member, we can verify address with their identification.

What does a minor need to open an account at Meridia?

The original birth certificate and social security card are required to open an account to comply with regulations we are bound to. In order to perform a transaction, we require photo identification (driver’s permit or license, or current school ID) on file.

What about older kids?

Our accounts grow with your child’s needs. Once they are age 16 or older and able to get a job, they can add a Checking Account* and have the freedom to learn how to spend and save. Much easier than allowance, isn’t it?

(*a joint owner is required on the account if a Checking Account is added to a youth account)

Help Your Kids Learn to Save

A Youth Savings account teaches kids how to save money and prepares them for financial success when they’re out of the house.