A Youth Certificate of Deposit (CD) is a one-year CD designed for members under 18. With just $25 to open and a one-year term, it’s a safe and accessible way for kids to learn about saving, patience, and the value of earning interest something no toy piggy bank can do.
This piggy bank pays back 4.50% APY²
Think of it like this: instead of keeping money in a piggy bank at home, you keep it with People Driven Credit Union and we pay you for it. With our highest CD rate, you’ll earn 4.50% APY² on the first $10,000 and 2.75% APY² on balances above that. Youth CDs are available to youth members, jointly held with a parent, guardian, or custodian. They make a practical tool for teaching healthy financial habits and a thoughtful gift that continues to grow—even if it isn’t fully appreciated right away.
Open a Youth Certificate of Deposit (CD)
Membership and eligibility requirements apply.
Rates & Details
Minimum to Open: $25
Term Length: 1 Year
Add-On Deposits: Allowed until maturity
Tiered APY²:
| Balance Tier | APY* |
|---|---|
| On the first $10,000 | 4.50% APY² |
| Portion of balance over $10,000 | 2.75% APY² |
Rates Effective as of:
²APY = Annual Percentage Yield. Tiered APY² means each portion of the balance earns the rate for its tier.
Why Choose a PDCU Youth CD?
- Low $25 minimum—perfect for first savings goals.
- Keep contributing—add deposits anytime until the CD matures.
- Competitive, tiered earnings—higher APY² on the first $10,000.
- Goal-friendly—great for birthdays, allowances, or seasonal savings challenges.
- Federally insured by NCUA up to applicable limits.
How It Works
- Open the Youth CD with $25.
- Make additional deposits anytime until maturity (in-branch, transfer, or mobile deposit to savings then transfer, as applicable).
- Earn 4.50% APY² on the first $10,000 and 2.75% APY² on the portion over $10,000.
- At maturity, withdraw or renew. Whichever fits your plan.
Get Started
Open a Youth CD account today online, at any of our branch locations, or contact us for more information. Help your child learn the value of saving now and reap the rewards later.
Frequently Asked Questions
APY stands for Annual Percentage Yield. It is a measure of the total amount of interest earned on an account based on the interest rate and the frequency of compounding over a year. APY is a useful metric for comparing the annual earnings on different savings products, such as savings accounts, CDs, and money market accounts, because it standardizes the effect of compounding.
Key Points About APY
- Includes Compounding: APY accounts for how often interest is compounded (e.g., daily, monthly, quarterly), which can significantly affect the total interest earned over time.
- Comparison Tool: APY provides a standard way to compare the annual interest earnings of different savings products, regardless of how frequently interest is compounded.
- Formula: The formula for calculating APY is:
APY = (1 + r/n)^n - 1
where r is the nominal interest rate (expressed as a decimal), and n is the number of compounding periods per year. - Higher APY: A higher APY indicates that you will earn more interest on your money over a year, assuming the same principal amount.
Example
For example, if a savings account offers an interest rate of 5% compounded monthly, the APY would be higher than 5% due to the effect of monthly compounding. This makes APY a useful metric for comparing the real return on different financial products.
Think of a CD (Certificate of Deposit) like a special piggy bank at People Driven Credit Union. You put your money in our big piggy bank, promise to leave it there for one year, and when the year is up, we give you all your money back plus extra money called interest. The longer you let us keep it safe, the more it can grow. It’s a fun way for kids to learn patience, saving, and how money can earn more money over time.
Disclosures
- APY (Annual Percentage Yield) accurate as of today and subject to change at any time without notice.
- Minimum opening deposit: $25. Additional deposits permitted until maturity.
- Tiered APY: The portion of the balance up to $10,000 earns 4.50% APY; the portion over $10,000 earns 2.75% APY.
- Term: 12 months (1 year).
- Early withdrawal penalties may reduce earnings and may apply if funds are withdrawn before maturity.
- Membership required. Eligibility and other restrictions may apply. See our Fee Schedule and account disclosures for details.
- Federally insured by NCUA.
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