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When Happens a when Member turns 16

When Happens a when Member turns 16

Your child will be celebrating their 16th Birthday. In just two short years, they will be considered a legal adult. Before they know it, banking will be part of their everyday life. Whether your child is depositing a check from a first job, making monthly car payments, or paying for college tuition, it is essential that your child is familiar with the fundamentals of everyday banking. At UKRFCU, we believe that understanding the fundamentals of everyday banking at a young age builds a strong foundation that promotes future financial success.

When UKRFCU members turn 16, they are eligible to open a UKRFCU Share Draft (Checking Account), as well as apply for a UKRFCU VISA Debit Card. Deposit money into your account and enjoy your new VISA Debit Card when it comes in the mail. Now your child can have the firsthand experience of managing their money like an adult.

A debit card is a card that makes payment by deducting money directly from a member’s Share Draft (Checking Account). Debit card users can spend money by drawing on funds they have deposited on their account. It can be used as debit (authorized by entering the Personal Identification Number) or as credit (authorized by signature). In both cases, money is withdrawn from your Share Draft account and there is no link to your credit history.

Visit a UKRFCU Branch with your child to open a Share Draft and apply for a UKRFCU VISA Debit Card. If you have any questions, please contact us at 215-725-4430.