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Teen Account
With Cyprus Credit Union’s Learn & Earn account, teens and parents have access to the tools they need to build financial literacy and practical experience during the teenage years — so teens can enter adulthood with financial confidence and independence.
LEARN
Make the most of our Learn & Earn account features, designed to help teens practice goal-based saving, smart spending, and financial management. See the Build Financial Skills section to learn more.
EARN
Teens can earn up to $200 as they open a Learn & Earn account and complete our custom financial education package. Find details in the Unlock Cash Rewards section below.
What's Included in a Learn & Earn Account
A Learn & Earn account includes all the essentials for your teen's banking needs — checking, high-yield savings, free debit card access, and tools offered in Home Banking and the Cyprus CU Mobile Banking app. Open an account opens in new windowonline or at any Cyprus branch opens in new window.
Learn & Earn Checking
Learn & Earn Checking provides the ideal opportunity for teens to practice smart spending skills, learn financial responsibility, and enjoy rewarding access to their hard-earned funds.
- Compatible with mobile wallets such as Apple Pay or Google Pay.
- Connect with P2P payment apps like Venmo and Cash App.
- Monitor cash withdrawals, debit purchases, and balances with text and email alerts sent in real time.
- Debit card access. Usable wherever Visa is accepted and at any of 30,000 surcharge-free ATMs throughout the U.S.
- No annual fee, no monthly service charge, and no minimum balance requirement.
Learn & Earn Savings
Though saving is an essential of financial security, less than of half of Americans have enough saved to cover an unexpected expense of $1,000.* A Learn & Earn Savings helps teens to reach $1,000 in savings before graduating high school, giving them peace of mind and a head start on the financial journey ahead.
- Teens earn 5.00% APY** on balances up to $1,000.
- Helps teens achieve their savings goals and to understand the benefits of compound interest.
- Earn dividends at a standard savings rate on balances over $1,000.
Home Banking & the Mobile App
Stay informed of your financial history, habits, and progress with Home Banking, our free online banking service. Access your Home Banking account at CyprusCU.com or download the Cyprus CU Mobile Banking app on Google Play or App Store.
- View balances, account activity, and easily transfer funds between accounts.
- Create automated budgets and view visual representations of spending habits with Budget Planning & Tracking Tools.
- Access E-Statements, enable E-Alerts by text or email, and transfer between your accounts at other financial institutions.
Unlock Cash Rewards
Teens Get Up to $200 with a Learn & Earn Account
Open a Learn & Earn Checking and Savings account and enroll in e-statements to earn:
$50 for opening a new checking Account.1
$100 for completing the Teen Learn & Earn skills in Home Banking:2
1. Teen Learn & Earn: Savings
2. Teen Learn & Earn: Spending Smart
3. Teen Learn & Earn: Budgeting Skills
$50 for setting up direct deposit after getting first job.3
Build Financial Skills
With a Learn & Earn account, teens are rewarded as they learn the essentials of finance with over 800 bite-sized modules. Get started in Home Banking by selecting the Services tab and choosing Learn and Earn.
- Educates teens about savings plans, budgeting strategies, smart spending, and more.
- Complete modules to earn pineapples, our special Learn & Earn currency.
- Redeem pineapples for gift cards to popular retailers.
- Earn pineapples every day you log in to Learn & Earn!
FAQs
More Options for Financial Success
Make the most of these other great account options to help your teen save for both the long and short term.
- The spare change from every debit card purchase is automatically deposited into a high-yield Round Up Savings account.
- A great way for teens to save effortlessly even as they make day-to-day purchases.
- Checking account required to open.
- Great option for longer-term savings as teens save for college, their first car, vacation — you name it!
- Terms ranging from six to 60 months.
- Low opening deposit of just $20 required.
- Pays dividends at the same rate as a traditional certificate.
- Automatic deposit of at least $10 per month required from checking account.
- Allows deposits anytime throughout the term.
Teen Learn & Earn Savings
APY As High As 5.00%Certificates
APY as high as 4.40%Dream Round Up Savings
APY 10.00%
Learn & Earn teen account is subject to membership and eligibility requirements. Only available to teens ages 13–18. Parent or legal guardian must sign on account for teens ages 17 and under.
* 2023 online NerdWallet survey by The Harris Poll.
Learn & Earn Savings
** APY = Annual percentage yield. Dividends are declared, paid, and compounded monthly. Rates subject to change at any time. Learn & Earn Savings tiered rate on average daily balance of $0.01 to $1,000.00. Balances of $1,000.01 and higher earn dividends at the same rate as Regular Share Savings.
Unlock Cash Rewards
1 Available on new checking accounts only. Not available on secondary accounts or to members who have had a primary checking account with Cyprus within the last 12 months. $50.00 will be deposited into account within 30 days of meeting all eligibility requirements.
2 Must be age 13 or older to enroll in Home Banking and the Learn & Earn learning platform. Primary account holder (the teen) must log in to Home or Mobile Banking under their own username to qualify. Must complete the Teen Learn & Earn: Savings, Teen Learn & Earn: Spending Smart, and Teen Learn & Earn: Budgeting Skills before 19th birthday to qualify. Upon completion of all three required skills, $100 will be deposited into checking account within 30 days.
3 Direct deposit must begin prior to 19th birthday to qualify. Direct deposit must be an electronic deposit of paycheck, pension, or government benefits from an employer or government entity to qualify. $50.00 will be deposited into account within 30 days of eligible direct deposit.
Round Up Savings
Requires Learn & Earn Checking or Dream Checking to open. No minimum balance required to open. Dividends earned on balances $0.01 and higher. Dividends are declared, paid, and compounded monthly. Account matures on November 1 and funds will be transferred from Round Up Savings to Dream Checking account.
Dream Certificate
Early withdrawal penalties may apply. Minimum balance of $20.00 is required for Dream Certificates. Requires minimum monthly deposit of $10.00. Dream Certificate maximum of $100,000.00 per member.
The products and services on this page are offered through LPL Financial or its affiliates by Registered Representatives of LPL Financial. These products and services are not credit union deposits, not credit union guaranteed, not insured by NCUA or any other government agency, and may lose value. Cyprus Credit Union is a separate entity and is not affiliated with LPL Financial.
Links from the Cyprus Credit Union web site to other web sites are provided solely as a convenience to visitors.
If you use these links, you will leave the Cyprus Credit Union web site.
The Credit Union does not have any responsibility or control over any of these external web sites, their content or their privacy policies. We do not endorse or make any representations about third-party external web sites, including any information, products, materials or results that may be obtained from using them.
If you decide to access any of the linked third-party web sites, you do so entirely at your own risk. You are encouraged to review the privacy notice for each linked web site.
The Credit Union does not have any responsibility or control over any of these external web sites, their content or their privacy policies. We do not endorse or make any representations about third-party external web sites, including any information, products, materials or results that may be obtained from using them.
If you decide to access any of the linked third-party web sites, you do so entirely at your own risk. You are encouraged to review the privacy notice for each linked web site.
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Please do not send any personal financial information via Email.
E-mail transmission cannot be guaranteed to be secure and information
could be intercepted, lost, or contain viruses.
