teen accounts

A Guide for Parents and Teens

Balance Freedom and Responsibility

Manage the account together with easy access and updates from Cyprus.image description

  • View balances, purchases, account activity and easily transfer funds into your teen’s account all through your existing Home Banking log in.
  • Monitor cash withdrawals, debit purchases and balances with account alerts by text or email. Our free account alerts send real time updates on transaction types, transaction amounts and account balances.
  • Check balances and account history anywhere with Mobile Banking and Text Banking.
  • Anyone under 18 must have a parent or guardian as a joint account owner. As a joint owner, you have full rights and access to your teen’s account.

Safe and Easy Account Access

VISA Debit Card

Your teen can use their Cyprus VISA debit card anywhere VISA is accepted. It’s safer than cash because your money is protected if the card is lost or stolen.

Cyprus can put safe guards in place to eliminate the risk of overdraft fees. Our free account alerts let your teen  swipe with confidence, keeping them and you updated on current balances.

If the card is lost or stolen, you are protected from unauthorized charges. Just call us. We’ll immediately block the card and issue a new one.

ATM Card with custom PIN

An ATM card is great way for your teen to get started with money management. ATM cards can’t be used for purchases at retailers or online. An ATM card allows free access to cash in their account at any Cyprus Credit Union ATM, CO OP ATM or any 7-11 ATM.

Help your teen manage their money with free services from Cyprus:

  • No minimum balance requirements
  • Free Mobile Banking for Android and iPhones
  • Free Text Banking
  • Free account alerts by text or email
  • Free eStatements
  • Free ATMs, more than 28,000 nationwide

Open a New Account

Teen Savings Account

A savings account is a great way to get your teen started on the path to money management. With a minimum deposit of $5, your teen can open a savings account.  They can deposit funds at any branch or you can transfer money through Home Banking.  

ATM Card with custom PIN

An ATM card allows free access to cash in their account at any Cyprus Credit Union ATM, CO OP ATM or any 7-11 ATM. Your teen can’t withdraw more than the available balance in their account, protecting them from overdraft fees or charges. An ATM card also protects their account from unauthorized access or charges. If the card is lost, it’s ok! No one can access the account or funds without the PIN.

Dream CD

If you teen is saving for college, a car, or something special, a Dream CD is a great way to reach their goal. Start a Dream CD with just $1 and your teen can save at their own pace. Dream CDs have no fees and offer a higher rate of return than a regular savings account and allow you or your teen to deposit money anytime.  With terms from 6 months to 5 years, you can use your Dream CD to set a savings go goal. Dream CD Rates.

 

Open a New Account

Teen Visa

A Cyprus Credit Union Student VISA® is a great way for teens under 18 to learn the value and power of credit.

Here's how:

  • Be a Cyprus Credit Union member (Click here to found out how to Join)
  • Apply with a qualified comaker (usually a parent or guardian age 21 or older)
  • Use your Student Visa Card responsibly

Benefits:

  • Low rates
  • Great way to establish credit
  • Free Mobile Banking for Android and iPhones
  • Free Text Banking
  • Free account alerts by text or email
  • Free ATMs, more than 28,000 nationwide
  • 25-day grace period on purchases
  • Verified by Visa protection
  • Choose a Platinum Awards card and earn awards on every purchase

To apply:

Paying off a $300 VISA Balance*:
Payment Pmts Final Pmt Total Interest
$25 12 $15.09 $15.09
$30 10 $12.66 $12.66
$35 8 $30.94 $10.94
$40 7 $29.67 $ 9.67
$45 6 $38.67 $ 8.67
$50 6 $ 7.89 $ 7.89
*based on 8.75% APR | Student VISA Credit Card Agreement

 

Open a New Account

Cyprus College Scholarship


We have selected the recipients for our 2015 annual scholarship program.

Applications for 2016 will be accepted after January 1, 2016. We are awarding up to fifteen $1,000 scholarships. High school seniors from the following school districts may apply: Alpine, Davis, Canyons, Granite, Jordan, Murray, Salt Lake.

Click here for an application and more details.