BMI Federal Credit Union
Empowering the Next Generation of Savers
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Open a savings account for your minor and we'll put a $100 Cash Bonus* into a Youth Certificate! To open your minor's account, the following information will be required:
✓ Minor's Legal Name
✓ Social Security Card
✓ Birth Certificate
✓ A Joint Person of Legal Age
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Investing in Their Future
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Youth Certificates
Start with just $50 and add funds anytime. These Youth Certificates offer a higher dividend rate than the regular savings accounts, making them a great option for teaching children about growing their money over time.
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Coverdell Education Savings Accounts
Start saving for your child's education expenses with a Coverdell ESA. Contributions and earnings grow tax-deferred and can be withdrawn tax-free for qualified education expenses. Learn more about the benefits within our brochure. |
*Enter promo code YC26 when opening a savings account online or in person for a youth age 0-17, and deposit a minimum balance of $5. Existing BMI FCU members are not eligible. A parent or legal guardian is required on youth accounts. Rates as of 01/08/26 are as follows: Savings rate is 0.05% Annual Percentage Yield (APY), and Youth Certificate rate is 3.70% APY. Youth Certificate requires a minimum balance of $50 to earn interest. Rates are subject to change without notice. Fees such as a penalty for early withdrawal may reduce earnings. Cash bonus of $100 will be deposited into a youth certificate for the same new youth member within 10 business days after savings account opening. Youth Certificate must remain open for a minimum of 12 months or the bonus will be debited from the account at closing. Cash bonus may be considered income and reported on 1099-MISC or 1099-INT. Membership eligibility and account requirements apply. BMI FCU is open to everyone who lives, works, worships, or attends school in Franklin, Licking, Fairfield, Pickaway, Madison, Union, Delaware, or Morrow County. This credit union is federally insured by the National Credit Union Administration. Additional coverage up to $250,000 provided by Excess Share Insurance Corporation, a licensed insurance company. BMI FCU may amend, suspend, or discontinue this offer at any time without notice. Offer ends June 30, 2026.
