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High 5 Savers

Earn More & Learn More

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

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What Makes High Five Special

Earn more: 5.00% APY on the first $500

Competitive rate that lets your money grow. Minimum balance to open the account is $1 (and we’ll provide the first $1). Available for children 16 and under. No monthly fees or minimums.

Learn more: as they grow, they’ll see their money grow, too!

Perfect for teaching monetary responsibility at an early age. Start saving for the future today!

Easy to Manage

Add to your High 5 Youth Savings account balances by in-person deposit, by mail or from parent direct deposit or transfer online.

Simple to Open

Visit any Island Federal branch or go to islandfcu.com to open a High 5 Youth Savings in minutes. Be sure to have the child’s Social Security number available

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Start Your Child's Savings Journey with 5.00% APY*

Give your child a head start on saving with Island Federal’s “High Five” Youth Savings account. This special account is perfect for kids 16 and under, earning an impressive 5.00% APY on balances between $1 and $500. The best part? There’s no minimum deposit required to get started—Island Federal will even contribute the first dollar to open the account.

Once your child’s balance grows beyond $500, any additional funds will earn our standard savings rate. The account calculates dividends daily and adds them to the balance each month, so even small contributions can grow over time. It’s a great way to teach kids about money management and reward them for developing good saving habits early in life.

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Hear From Our Proud Members

“I had an incredibly wonderful experience opening a bank accountat IFCU. They also facilitated applying for Auto Loan quick and painless. Highly recommend and worth the relationship.”

Ronald L.

East Setauket

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Hear From Our Proud Members

“I’m one who doesn’t usually go out of my way to make a post about anything. But, credit should be given where credit is due. My son and I went in to the Hauppauge branch for fraudulent activity that was picked up on my son’s account. It wasn’t much just under $30. The branch manager took us to his office and treated the whole situation as if we lost thousands more. He did everything he could to resolve the situation and before we knew it the money was back in the account. He did all the leg work, and spent the time required to fix the situation. I’m so glad I’m a Member here and not just a number. Thank you!

Andrew L.

Hauppauge

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Frequently Asked Questions

Can I open a High 5 Youth Savings for my newborn?

Yes, you can open a High 5 Youth Savings account for any child under age16.

The High 5 Savings account will be automatically converted to a Savings account.

High 5 balances over $500, will earn the regular Savings rate.

If you’d like to earn even higher savings on higher balances, consider opening a Youth Certificate. This is a good suggestion for long-term growth.

Disclosures

*APY=Annual Percentage Yield. Rates and terms are subject to change without notice. Minimum balance of $500 required to open and earn interest. Fees and penalties may reduce earnings.  View full product disclosure within the Deposit Account Disclosure. 1 Information regarding the NCUA Share Insurance Coverage can be found at ncua.gov. a Disclaimer: Island Federal makes every effort to ensure that the information posted is current and accurate; however, we make no warranties of any kind, expressed or implied. Membership eligibility applies.