Smart Saving Starts Early

Youth Savings Accounts

Give young people in your life the tools they need to grow good savings habits.

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Youth Savings Accounts

Grow Smart with Youth Savings

Begin nurturing lifelong financial habits with our Youth Savings options. Whether for young children or teenage savers, our accounts offer guided flexibility, educational tools, and custodial oversight so your child can learn with confidence—and grow toward their future goals.

Build lifelong money skills and plan ahead for their future.

Andrews Federal’s Youth Savings options help parents and guardians nurture smart financial habits from childhood through college. Start with a Sprouting Savers Account to introduce basic savings, move up to a Ca$h Commanders Account to give teens hands-on experience managing money, and plan for future education costs with a Coverdell Education Savings Account (ESA)—a tax-advantaged way to save for tuition, books, and other qualified expenses.

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Which Account is Right for Your Child?

Help the young people in your life learn smart money habits early. Whether you’re starting with a first savings account, teaching teens to manage their money, or saving for future education expenses, Andrews Federal has a youth savings option to help every step of the way.

Sprouting Savers Account

Start growing healthy savings habits early.

Available for ages 0 to 13
Open a Sprouting Savers Account with just $5 and watch your child’s savings grow—potentially tax-free under the Uniform Transfers to Minors Act (UTMA).*
A parent or guardian opens and manages the account on the child’s behalf
Two forms of adult identification are required
Choose when funds become available to your child—at age 18 or 21
Seamlessly upgrade to a Ca$h Commanders Account when they turn 13
Enjoy peace of mind knowing an adult custodian oversees the account

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Ca$h Commanders Account2

Empower teens to take charge of their money.

Available for teenagers ages 13 – 17
The Ca$h Commanders Account helps young members build financial independence with hands-on experience managing their own savings—while keeping a parent or guardian connected for guidance.
Open with just $5
Teens can make deposits, set goals, and track progress in Digital Banking
A parent or guardian remains joint on the account for oversight
Earn competitive dividends while learning smart saving habits
At age 18, the account converts to a standard savings account

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Coverdell Education Savings Account (ESA)

Save for the young people in your life.

Annual contribution limits per beneficiary is $2,000.
Save up to $2,000 a year for education costs.
Any friend or family member can contribute to student's account.
No annual tax deductions, but funds grow tax-free, and withdrawals are tax-free.
Students can use money at any time before age 30.
Use the funds for private elementary and secondary school tuition as well as higher education.
Funds are insured up to $250,000 by the National Credit Union Administration
Certificate option available

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Smarter Money Management Starts Here

The Mobile Banking app is a convenient financial resource and a great tool to keep finances top of mind with your child or teenager.

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Your Questions. Answered.

Frequently Asked Questions about Youth Savings Accounts

Learn the details about setting up accounts and more.

Can I open a Youth Savings Account online?

Currently, Youth Savings Accounts must be opened at a branch location.

What identification do I need to bring for my child to open a Sprouting Savers account?

Acceptable forms of identification include: State-issued ID, U.S. Passport, Military ID, or current School ID. The second form of identification can be a Social Security Card, Student ID, Birth Certificate, Permanent Resident Card, Auto Insurance Card, and/or Credit Card. If your State-Issued identification does not have your current physical address, you will need to show proof of current address with another form of identification, such as a current utility bill, bank or mortgage statement

What identification do I need to bring to open a Ca$h Commanders account for my child?

Two forms of identification must be provided for the custodial on the account; one form of identification must be provided for the minor on the account. If the minor does not have identification, we may be able to assist. Acceptable forms of identification include: State-Issued ID, U.S. Passport, Military ID, or current School ID. The second form of identification can be a Social Security Card, Student ID, Birth Certificate, Permanent Resident Card, Auto Insurance Card, and/or a Credit Card. If your State-Issued identification does not have your current physical address, you will need to show proof of current address with another form of identification, such as current utility bill, bank or mortgage statement.

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¹Acceptable forms of identification include: State-Issued ID, U.S. Passport, Military ID, or current School ID. The second form of identification can be a Social Security card, Student ID, Birth Certificate, Permanent Resident Card, Auto Insurance Card, and/or a Credit Card. If your State-Issued identification does not have your current physical address, you will need to show proof of current address with another form of identification, such as current utility bill, bank or mortgage statement.

²Two forms of identification must be provided for the custodial on the account; one form of identification must be provided for the minor on the account. If the minor does not have identification, we may be able to assist. Acceptable forms of identification include: State-Issued ID, U.S. Passport, Military ID, or current School ID. The second form of identification can be a Social Security Card, Student ID, Birth Certificate, Permanent Resident Card, Auto Insurance Card, and/or a Credit Card. If your State-Issued identification does not have your current physical address, you will need to show proof of current address with another form of identification, such as current utility bill, bank or mortgage statement.

Custodial accounts are organized under the state laws where the opening branch is located. For example, accounts opened at a New Jersey branch are opened under the New Jersey UTMA laws. Refer to the appropriate state’s UTMA laws for more details regarding these accounts types.