WEST PALM BEACH, Fla. – When it comes to opening accounts for younger members, the January issue of Kiplinger's Personal Finance Magazine has put its stamp of approval on credit unions. After Executive Editor Janet Bodnar described the trouble she experienced just opening a checking account with a debit card at a local Bank of America for her 17-year-old daughter, she remarked how kid/teen friendly credit unions are. Readers eligible for membership were then encouraged to try a credit union. Bodnar singled out Raleigh, North Carolina-based State Employees' Credit Union and Jackson, Michigan-based CP Federal Credit Union as two examples of programs that promote teen financial literacy by encouraging actual experience.
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