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Youth And teen sAVINGS & CHECKING ACCOUNTS

Meet your family’s local financial partner for life.

Teaching your kids the value of a dollar isn’t always easy, but at TruStone Financial Credit Union we believe no child is too young to discover the importance of saving money. We offer MoneyWise savings accounts that are just right for children under age 18 with unique saving options, exclusively designed to fit their needs.  We believe these products are the first step toward a sound financial future.  Starting your child’s relationship with a credit union they can trust will make the financial education process easier and more rewarding and make their transition into checking accounts smoother.

As their change adds up, stop by your local branch in Minnesota or Wisconsin and use our Coin Machine to turn that spare change into cash for your child’s savings account.

Enter our Coloring Contest!

Encourage your young saver to enter our coloring contest for a chance to win $50. One winner of the month will be chosen from entries submitted through December 2024. Learn more about our youth contests and enter their masterpiece today.

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MoneyWise Primary Share Offer

MoneyWise Primary Share is a child’s first savings account and will start them on their way to watching their money grow. TruStone Financial will match the opening deposit up to $10.**

 

MoneyWise Primary Share is a child’s first savings account and will start them on their way to watching their money grow. TruStone Financial will match the opening deposit up to $10**.



 

MoneyWise Primary Share Savings Account

Effective May 1, 2024 (rates subject to change)
Minimum Opening Deposit Dividend Rate Annual Percentage Yield (APY)*
Primary Share Savings Account $5 0.30% 0.30%

*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts.

**Money for match must be deposited at time of account opening. TruStone will match up to $10 of the total funds deposited. MoneyWise accounts are available to those under 18 years of age. Allow up to 30 days for funds to be deposited. Accounts closed within six months may forfeit funds. Offer subject to change.

1The minimum deposit to open a Primary Share and maintain membership is the purchase of a $5 share in TruStone Financial.

2For these account types, the dividend period is quarterly: for example, the first dividend period of the calendar year is January 1 through March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period: for example, March 31.

The MoneyWise Money Market Savings Account rewards kids with higher dividends as their balance grows. It requires a $500 minimum deposit, but their funds remain easily accessible.
 

MoneyWise Money Market Savings Account

Effective May 1, 2024 (rates subject to change)
Minimum Opening Deposit Dividend Rate Annual Percentage Yield (APY)*
- Tier I: $0 - $499.99 $500 0.40% 0.40%
- Tier II: $500 - $9,999.99 $500 0.60% 0.60%
- Tier III: $10,000 - $24,999.99 $500 0.75% 0.75%
- Tier IV: $25,000+ $500 0.90% 0.90%


*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts.

3For these account types, the dividend period is monthly; for example, the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period: for example, January 31.

MoneyWise Certificates offer the high dividend rate of a certificate with flexibility more like that of a typical savings account. These certificates have a 12-month term, but allow kids – or their parents – to add money to the account throughout the year.

 

MoneyWise Certificates

Effective May 1, 2024 (rates subject to change)
Minimum Opening Deposit Dividend Rate Annual Percentage Yield (APY)*
MoneyWise Certificate (12 Month) $25 4.91% 5.00%

*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts. TruStone Financial membership required. The APY assumes that dividends will remain in your account until maturity. Penalties may be imposed if you withdraw any of the principal in your account before the maturity date. The penalty will equal 90 days’ dividends on your account if the original term is one year or less. The penalty will equal 365 days’ dividends on your account if the original term is greater than one year. If a certificate is withdrawn within six calendar days after the account is opened, a penalty of at least seven days dividends will be assessed.

DIVIDEND INFORMATION: Balance computation method – Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Accrual of dividends on non-cash deposits – Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account. Compounding and crediting frequency – Dividends will be compounded and credited at the end of the calendar quarter and on the maturity date of your certificate. Withdrawal of dividends prior to maturity – The APY assumes that dividends will remain in your account until maturity. A withdrawal will reduce earnings.

The dividend period is quarterly. For example: the first dividend period of the calendar year is January 1 through March 31. All other dividend periods follow this pattern of dates. The dividend declaration date is the ending date of a dividend period, such as March 31. Dividend rates on certificates will be in effect until the maturity date. Dividends are no longer paid on nonrenewable certificates after maturity.

CERTIFICATE INFORMATION: If you are under age 18, the minimum balance to open is $25. Automatically renewable certificates have a 10-business day grace period after the maturity date to withdraw funds or close the account without being assessed an early withdrawal penalty. Accrued dividends will be paid during the grace period. Automatically renewable certificates will be renewed at maturity for the same term as the original. The new certificates will also be renewable.

1MoneyWise Certificate 12-month: MoneyWise certificate will be converted to a regular 12-month certificate on the maturity date immediately following the 18th birthday of the primary member. Additional deposits may be made throughout the term of the MoneyWise certificate.

RATE INFORMATION: These are prospective dividend rates and anticipated Annual Percentage Yields (APY) for the current dividend period and may change at any time without limitations as determined by the TruStone Board of Directors. To confirm the current rates, call 763.591.4949 or 800.343.8328. The dividend rates on certificates will be in effect until the maturity date.

Members ages 13-17 are eligible to open a MoneyWise Teen Checking account with a parent as a legal owner on the account.
 

MoneyWise Checking Account

Effective May 1, 2024 (rates subject to change)
Minimum Opening Deposit Dividend Rate Annual Percentage Yield (APY)*
MoneyWise Checking Account $5 0.00% 0.00%

*APY = Annual Percentage Yield. All rates subject to change monthly. Service charges may reduce earnings.

MoneyWise Checking comes with free digital banking, eStatements, Bill Pay & Debit Card. Mobile Pay is restricted and Overdraft Privilege is not available. There is no monthly minimum balance. Debit Card will earn 1 point/ $5 spent, which can be redeemed for merchandise, travel, gift cards or cash back.


The MoneyWise Primary Share, Money Market and Teen Checking accounts will convert to the terms of a regular Share Account, Money Market and Value Checking when the primary member becomes 18 years old.  12-month MoneyWise certificate will be converted to a regular 12-month certificate on the maturity date immediately following the 18th birthday of the primary member.
 
Dividend information: Balance computation method — Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Accrual of dividends on non-cash deposits — Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account. Nature of dividends — Dividends are paid from current income and available earnings, after required transfers to reserves at the end of the dividend period. Compounding and frequency - Dividends will be compounded monthly and credited to your account on every monthly statement or at the end of the calendar quarter. Effects of account closing — If you close your account before dividends are paid, you will receive the accrued dividends. These are prospective dividend rates and anticipated Annual Percentage Yields (APY) for the current dividend period and may change at any time without limitations as determined by the TruStone Board of Directors. To confirm the current rates, call 763.591.4949 or 800.343.8328

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**Money for match must be deposited at time of account opening. TruStone will match up to $10 of the total funds deposited. MoneyWise accounts are available to those under 18 years of age. Allow up to 30 days for funds to be deposited. Accounts closed within six months may forfeit funds. Offer subject to change.