SAN ANTONIO -- Firstmark Credit Union has recently unveiled a new Certificate of Deposit designed specifically for members 19 years old and younger.
"We are the first credit union in San Antonio to offer this type of account," said Brenda Moczygemba, vice president of marketing. "We understand the challenges faced by parents in trying to teach children about money, and we want to help by giving children a chance to earn a higher rate of return on their savings."
Launched as part of the 2007 National Credit Union Youth Week celebration, Firstmark CU's Youth CD has a low minimum deposit of just $100 and is available for either a 6-month or 12-month term.
As an added incentive the credit union is waiving the $5 membership fee for teen accounts as well as offering free movie tickets and other prizes including a chance for parents to win a new Pontiac Solstice.