Teach kids about money with a Kids Savings Account

An Alliant Kids Savings Account is the perfect teaching tool on how to set savings goals.

Kids savings accounts, mom and daughter learning to bank
The Run Down
  • Great interest rate:  19x higher71 than most banks
  • Perfect savings account for kids 12 and younger
  • Joint ownership for parents, grandparents or guardian (joint owner must be an Alliant member)
  • Review balances and transfer money in online banking and mobile banking
  • We'll pay the $5 initial deposit22 to get your child started!
  • No monthly fees22 for members electing eStatements
Rates
3.10 %
APY 63
3.06 %

With an average daily balance of $100 or more. APY= Annual Percentage Yield.63 

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The perks of an Alliant Kids Savings Account

Alliant's online kids savings account is open to children ages 12 and younger.

Power of compound interest

Teach your child about the power of compound interest. Once your child has $100 or more in a Kids Savings Account, it pays dividends — to the tune of 3.10% APY.63

Start good savings habits

Easily set up supplemental accounts for your child’s goals – whether they’re saving for a bike or looking ahead to save for college. Plus, our free Alliant Savings ATM Card makes it easy to deposit via ATM!60

Easy mobile and online banking

Transfer your child's allowance directly into their account, track progress toward savings goals and help them deposit birthday/holiday checks with their phone or tablet using our mobile banking app.  

Kids savings accounts help you teach money basics

Check out this video for three great tips on helping your child develop smart money skills.

Watching the balance on their savings account grow can motivate them to be smarter consumers and better savers as they grow up.

Tips for raising money-smart kids

  1. Most of the banking transactions made during your child's life will be made digitally, so teaching them how to be smart and safe in using digital banking tools is critically important. Use the Alliant Mobile Banking App to teach them how to make transactions, monitor their balances, track their interest earned, and deposit their birthday or holiday checks from Grandpa and Grandma. 

  2. Link your child’s Alliant Kids Savings Account with your Alliant Savings or Checking Account so you can transfer money to them with just a few clicks. Next time you give them money, do it digitally!

  3. Check out The Money Guide from Visa, which introduces money management concepts for ages 8-12.

Step 1: Download and fill out application for an Alliant Kids Savings Account

Step 2: Submit application

Kids Savings Account applications are transacted via secure email. Just fill out the form below and we will email you with instructions within one business day. Note: Please use the same name and email address you used when you set up your current Alliant account to ensure you receive the secure email.

Here is Alliant's California Privacy Statement (PDF), as required by the California Consumer Privacy Act.

We’ll give you a call if we need additional information from you. If you have mailed in your application and haven’t heard from Alliant about the status of your account within 14 business days after applying, or have faxed in your application and haven’t heard from us within 7 business days, give us a call at 800-328-1935 and request an update.


Need an alternative way to submit your application?

Mail to:

Alliant Credit Union 
Attn: Account Services
PO Box 66945
Chicago, IL 60666-0945

Fax to:

(773) 462-2124

Kids Savings Account Rates

3.10 %
APY 63
3.06 %

Let Me Know When Alliant Rates Get Even Better

Here is Alliant's California Privacy Statement (PDF), as required by the California Consumer Privacy Act.

Kids Savings Account FAQs

As a joint owner on an Alliant Kids Savings account, will I be able to view it in online banking?

Yes, as a joint owner, you can view your child’s Alliant Kids Savings account once given access. To view Alliant joint account(s) within online banking, the primary account owner must first give access.

Your child should log in to Alliant online banking, then click into his or her savings account in the left sidebar of the main My Accounts page.

  • Select “Account Details.”
  • Select “Manage Joint Owners.”
  • Select “Manage Online Access.”
  • Follow the onscreen prompts to select the account(s) your child would like you to have access to.
  • Click the “Update” button. 

After your child completes the above steps, you can then log in to your own Alliant online banking to view your child’s savings account.

My child is older than 12. What kind of savings account should I open for him?

You may open a regular Alliant High-Rate Savings account for children older than 12.

What happens when my child turns 13 years old?

When your child reaches the age of 13, they will be eligible to apply for the Teen Checking account. Their Alliant Kids Savings Account will remain as a savings account, and any funds in the account will remain in the account unless or until they withdraw or transfer them. The only change is that they will also have the option of applying for an Alliant Teen Checking Account. If they do open a checking account, they will then have a debit card that enables them to access both their savings and checking accounts, so that they can easily transfer funds between the accounts.

Are my account funds insured to protect me from loss?

Alliant deposit accounts are federally insured up to $250,000 by the NCUA. To learn the details of funds coverage, visit the NCUA page on the Alliant website

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