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Join Greenlight -
on us!
Help your kids learn to earn, save, and spend wisely.
Magnifi members receive a FREE Greenlight subscription, including a debit card and money app designed to help kids build smart money habits.
Helping your children learn to save their money can teach them some powerful life lessons:
- How to stay focused on goals
- How to plan ahead
- How to save for the things they want until they can afford it
- The value of money and not to waste it
- Basic math skills
Magnifi Financial offers several types of children's savings accounts for kids ages 0 to 17, with a parent or guardian as a co-signer.
Calculate Your Savings
*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.
Choose the account to help you save.
Little Scholars Savings
Help teach your child how to start saving. Watch their money grow and get rewarded along the way.
- Earns higher dividends than personal savings
- No monthly fees or penalties
- Birthday gift each year
- Free gift with deposits $25+
- Auto-transfers to Boom! Savings at age 13
Boom! Savings
Keep the savings habit strong with this account designed for teens ready to level up.
- Earns higher dividends than personal savings
- No monthly fees or penalties
- Overdraft protection for Youth Checking
- Build credit-ready habits
Boom! Certificate
A youth certificate that helps grow their money even faster with locked-in rates.
- 24-month term
- Higher dividends than regular certificates
- Minimum deposit: $250
- Maximum deposit: $7,500
- Guaranteed rate for full term
Rates
Effective Date 1/1/2026
| Account Type | Dividend Rate | APY | Min. Opening Deposit | Min. Balance to Earn Stated APY |
|---|---|---|---|---|
| Little Scholars & Boom! Savings |
1.00% | 1.00% | $0.00 | $0.00 |
| Boom! Certificate* | 3.203% | 3.25% | $250.00 | $0.00 |
APY = Annual Percentage Yield
*Boom! Certificate is a youth account for ages 0-19 years.
Term is 24 months. Minimum opening deposit of $250. Maximum deposit of $7,500. Penalty for early
withdrawal.
Rates are subject to change without notice. Dividends compound monthly.
Get Started
Youth Checking
Give your kids flexible spending options that teach strong spending habits.
Learn More
Personal Savings
Explore savings options designed to help you grow your money and reach your goals.
Learn More
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.
