SODUS, N.Y.— Reliant Credit Union has launched a teen account for members aged 11-17 it said is designed to help them manage their money using their own debit card.
The new account features online and mobile banking access and educational resources so teens can learn budgeting skills and set financial goals to help them build a brighter financial future, the $678-million credit union stated, adding the online experience was designed with teens in mind and prioritizes simplicity and ease of use.
“Our Teen Account was created to give teens autonomy and parents peace of mind. Offering a debit card to teens allows them to make purchases independently, wherever they are,” President and CEO Pamela Heald said in a statement. “The Teen Account’s focus on financial wellness and education makes it an excellent tool for teens beginning to navigate their own financial responsibilities—and for their parents, who want peace of mind when it comes to their children’s accounts.”
‘Appropriate Usage’
Reliant FCU said a parent or guardian must be joint on any Teen Account, allowing them to monitor the account and “guide the teen on appropriate usage.” The parent or guardian can choose between full or shared online account access, enabling them to put safe controls in place as they see fit.
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