Teach your teen valuable money management skills.
Who can open?
The Varsity Life Account is designed specifically for teenage children (age 13-17) of HUECU members 1.
Varsity Life Account Features:
- Free Checking Account with Debit Card
- Free interest earning savings account
- Club Account option for additional savings goals
How It Works
Step 1: Establish an HUECU membership for your teen by opening a Share Savings Account on which you are a joint owner1.
- $5 minimum to open
- Earns interest
Step 2: Open a Varsity Life Checking Account.
- Daily Debit MasterCard® limit of $300
- Unlimited ATMs and up to $10 surcharge refunds per month from other institutions.
- Free first pack of checks (optional)
Step 3: Open a Varsity Life Club Savings Account. (Additional Account Add-on)
- $1 to open
- Make regular contributions via automatic transfers
- Earns interest
- Funds disbursed once a year on May 1st2
Please Note: Varsity Life Accounts must be open in one of our branch locations, if your teen is not present with you, please bring a form of identification for your teen along with the signed membership application.
1. HUECU requires a minor to have a joint account owner (residing at the same address) who will be jointly liable for any returned item, overdraft or unpaid charges and or fees. When account minor turns 18 he or she will be notified and have a choice of any HUECU checking options, if no checking account is chosen by their 19th birthday, the account will automatically become a Crimson Essentials account. A link may be established to the Share Savings Account or a Joint Owner’s Checking or Share Savings Account enabling pre-authorized overdraft protection. We may pay funds directly to the minor without regard to his or her minority.
2. Withdrawals are not permitted before May 1st unless closing the account. Dividend rate and annual percentage yield for your account may change annually as determined by the Credit Union Board of Directors.
Click here to view the Varsity Life program details.