Youth Savings FAQs

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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A $5 minimum share must be maintained to receive dividends. There are no monthly service fees for Youth Savings accounts.

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The account will automatically convert to a Young Millionaires savings account on the first day of the month after the child's 13th birthday.

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The account will automatically convert into a regular share savings account on the first day of the month after the teen's 18th birthday.

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Only one youth savings account may be opened per Social Security number.

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Young Millionaires accountholders ages 13-17 may enroll in Online and Mobile banking.

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Your 16-year or older child may get a debit card for their account with a $250.00 limit.

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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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Youth Savings accounts require a parent, legal guardian or grandparent as a joint owner on the account. 

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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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