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Youth Savings Products

Jumpstart your child’s financial future with our “HIGH FIVE” Youth Savings Account and Youth Certificates.

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"High Five" Youth Savings Account 1

EARN MORE:  5.00% APY* on the first $5002

LEARN MORE: As they see their money grow

  • Available for children 16 and under
  • No deposit needed to open an account (we’ll provide you with your first $1)
  • Grow savings account balances via in-person deposit, by mail or from parent direct deposit or transfer
*APY= Annual Percentage Yield. Rates and terms accurate as of 10/16/2022 and subject to change without notice. 1 High Five Youth Savings available for children 16 and under. 2 Balances from $1.00 to $500.00 earn 5.00% APY. Balances over $500.00 will earn the current savings APY; see rate sheet for current rates. To obtain the blended dividend rate there is a limit of one account for each unique minor/joint ownership. Dividends are calculated on daily balance and credited monthly. Membership eligibility applies.

This holiday season new deposits in all high five youth accounts will be matched with a donation to the Ronald McDonald House charities

How it works:

  • Open a new High-Five Youth savings account or add funds to an existing High-Five Youth savings account
  • Island Federal will make a matching donation to the Ronald McDonald House Charities, New York Metro3
  • Feel good, knowing that you’ve helped several children this holiday season!
*APY = Annual Percentage Yield. Rates and terms accurate as of 11/1/2023. Promotion may end without notice. 1High-Five Youth Savings available for children 16 and under. 2Balances from $1.00 to $500.00 earn 5.00% APY. Balances over $500.00 will earn the current savings APY; see rate sheet for current rates. To obtain the blended dividend rate, there is a limit of one account for each unique minor/joint ownership. Dividends are calculated on daily balance and credited monthly. Deposits matched 12/1/2023 to 12/25/2023. 3Up to a Total $20,000.00 Donation to RMHC, NY Metro. The charitable donation is not tax deductible for account holder. Membership eligibility applies. Federally insured by NCUA.

Youth Certificates

Earn high interest at a fixed rate with Youth Certificates

  • Only a $500 minimum balance with terms from 3 to 60 months.
  • With guaranteed interest over a set period of time, you can plan your child’s financial future for years to come.