New Wave Savers Club
Our Teen Club offers young adults, between the ages of 13-18, the first step towards financial responsibility and independence! With a New Wave Savers account, our youth members will be able to open a Savings account, and also a Free Checking account if they are at least 16 years of age, and have a parent joint on the account. The New Wave Savers Club is designed with teen issues in mind. It was created to teach young adults more about financial issues they currently face or will be facing in the near future.
New Wave Savers Receive
- Welcome Packet and gift
- Birthday Greeting and gift
- Invitations to participate in special New Wave contests and promotions
- Free Checking account with your first set of New Wave checks to get you started free. (Must be at least 16 years of age, with a parent on the account.)
- Free Debit Card with Free Checking account (subject to same conditions and restrictions)
- Free Online Banking
- Opportunity to apply for a $1000 College Scholarship (graduating high school seniors)
- And we’re thinking of more every day!
2017 New Wave Savers College Scholarship Application
CLUB MEMBERSHIP REQUIREMENTS
- Age 13 - 18 Years
- Minimum Balance/Opening Amount: $25 (Teen’s social security number is required to open the account.)
- Monthly Service Charge: None
- Account Setup: Joint Account with teen as the primary account holder and parent/guardian as joint account holder
- Annual Percentage Yield: 0.10% (rates are subject to change; the current rate can be found here.)
- Dividends are compounded and paid monthly based on the average daily balance. The dividend rate and APY may change every dividend period as determined by the Board of Directors.
If your account is closed before dividends are paid, you will not receive the accrued dividends. To avoid a loss of dividends, please keep your account open with the minimum balance until the first business day of the following month.
Automatic Transfer electronically transfers funds into your teen’s account to help their savings grow.
Statements issued quarterly by mail or e-statements.
To open a New Wave Savers Club account, visit one of our convenient locations.
Children will need to be accompanied by a parent or legal guardian when opening an account.