Money Management for a New Generation
How well do your children or grandchildren understand
the value of money? Can they differentiate between
spending “wants” from “needs”?
Will they be prepared for the challenge of monetary independence?
Here at UNFCU, we believe it is never too early to teach
a child to make informed financial decisions. That is
why we have developed Start Smart, a global programme
providing our young members with the resources they need
to start establishing financial literacy and security.
Start paving the road for your children. Start teaching
your children to pave their own financial roads. Start with Start Smart.
Consider UNFCU Your Partner in Education
Open a Start Smart account for children under the
age of 18, and begin the lesson of financial management.
Start Smart offers custodial, savings and checking accounts,
to help young members learn the importance of saving
diligently and spending responsibly.
Every child enrolled in the programme will receive the
Start Smart Globe newsletter, as well as have access
to tools, games and stories designed to educate children
on personal finance.
Moreover, at UNFCU, we are aware of the uniqueness and
diversity of our young members who reside all over the
world. Start Smart promotes lessons beyond financial
management, focusing on global themes and the spirit
of good citizenship.
Start Smart offers three (3) different financial options:
Custodial, Savings, and Savings & Checking.
Which Account is Right for Your Child?
Option I:
Start Smart Custodial Account |
Option II:
Start Smart Savings Account |
Option III:
Start Smart Savings & Checking |
| If
your child is between the ages 0 – 17, and
you prefer to be the custodian of the savings
account for your child, a custodial account is the
right choice for you. With the Start Smart custodial
account, your child will not have any access to
his/her funds until the age of 18. You will administer
your child’s property, and act on your child’s
behalf until he/she reaches the age of 18. Please
note that once the child reaches 18, the account
will have to be converted to a standard UNFCU account,
or it will be closed. |
If
your child is between the ages 10– 17, and
you would like your child to be the primary account-
holder of a joint savings account, Start Smart
savings is perfect for you. You will be set up as
the joint accountholder and you will decide whether
your child should have access to an ATM/Bancomat card,
providing him/her with monetary independence to
his/her savings funds. When your child turns 14,
you may select to open a checking account for him/her,
which would convert the account to Option III.
|
If
your child is between the ages 14 – 17, and
you would like your child to be the primary account-holder
of both savings & checking accounts, look
no further than Start Smart Savings & Checking.
You will be set up as the joint accountholder, and
your child will be eligible for all Start Smart
savings benefits, plus many other UNFCU checking
transaction services. |
Back To Top
| Eligibility
Grid |
Option
I |
Option
II |
Option
III |
| Eligibility
(Ages) |
0
- 17 years |
10
- 17 years |
14
- 17 years |
| Parent
/ Legal Guardian with Sole Access |
• |
|
|
| Child
As Primary Accountholder |
•
Child is primary holder
with no access |
• |
• |
Parent
As
Joint Account Holder |
|
• |
• |
| Savings
Account |
• |
• |
• |
| Checking
Account |
|
|
• |
| Direct
Deposit |
• |
• |
• |
| eStatements |
•
Used by parent /
guardian |
• |
• |
| BillPay |
|
|
• |
| Cheque
Image Access |
|
|
• |
Telephone
Audio Response |
•
Used by parent /
guardian |
• |
• |
| ATM/Bancomat
Card |
|
•
$60 Daily Withdrawal Limit |
•
$60 Daily Withdrawal Limit |
| ChequeMate
Debit Card |
|
|
•
5 Transactions per day,
$140 Daily total purchasing amount limit
$60 withdrawal limit with debit card |
| Cheques |
|
|
• |
Back To Top
>Start
Smart Application Request Form
>Start
Smart Scholarship Fund
>Start
Smart Questions & Answers
|
