Meridian Credit Union Youth Savings Account

Meridian Credit Union Youth Savings Account Overview

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If you’re looking for a savings account for your child, Meridian Credit Union’s Youth Savings Account may be just what you need. This account is designed specifically for children under 18 and offers a range of benefits that can help your child build their savings and financial literacy skills.

Whether you’re searching for a way to teach your child about money management or want to give them a head start on their savings goals, Meridian Credit Union’s Youth Savings Account is definitely worth considering. Keep reading to learn more about this account and how it can benefit you and your child.

What is Meridian Credit Union?

Meridian Credit Union is a major financial institution based in Canada that offers its members a wide range of goods and services. These include chequing accounts, savings accounts, and a number of different credit card options, amongst other things.

With more than 360,000 people in their membership, Meridian Credit Union is the most significant cooperative financial institution in Ontario, Canada. You have a number of options for accessing your accounts at Meridian Credit Union, including banking in-branch, banking online, and banking over the phone.

What is a Meridian Credit Union Youth Savings Account?

A Youth Savings Account is a kind of account that is suitable for children who have yet to reach the age of 18 years old. Children are eligible to get interest on every dollar saved in a Youth Savings account.

This account also allows unlimited free transactions and does not charge any fees for transaction processing.

When you have a youth savings account, it is simple to access the account using a variety of banking channels, including mobile banking, internet banking, banking at a physical branch, and banking over the phone.

Meridian Credit Union Youth Savings Account - Comparewise

Features of a Meridian Credit Union Youth Savings Account

The following is a list of benefits that come with having a Meridian youth savings account;

Zero monthly fees and transaction fee

Opening a Youth Savings account saves you money every month since there are no maintenance costs. The youth savings account also allows you to make most of your transactions at no cost.

Interac e-transfer is a transaction that can be done on your youth savings account. However, this transaction comes with a fee.

Interest Rate

The Youth Savings Account provides its customers with competitive interest rates. This implies that your savings account will accrue interest daily. It also means that your interest rate will remain constant regardless of the amount of your account balance.

Free Automated Teller Machine (ATM) Access

Youth Savings Account offers its customers free ATM access in North America. Customers of the Youth Savings Account get free, unlimited access to ATMs in North America.

Over 40,000 surcharge-free ATMs in North America are available to Meridian cardholders via Allpoint Network in the United States and The Exchange Network in Canada.

Benefits of using a Meridian Savings Account

There are lots of benefits that come with having a Savings Account. The following are some of the benefits;

High Interest Rates

You may receive interest when you save money in a Meridian Savings account. Your money has the potential to expand at a quicker pace thanks to the advantageous interest rates offered by Meridian savings accounts.

Convenience

Banking with Credit Union is so easy and readily accessible. Savings accounts offered by Meridian may be accessed in branches, online, and through mobile banking, giving you the flexibility to access your savings whenever and wherever you need them.

So this helps you as a member to save more efficiently and get closer to your financial objectives by using a savings account as a vehicle for your money.

Free Transactions

Many of the savings accounts offered by Meridian have unlimited free transactions, making it possible for you to access your money without incurring any further costs.

Security

Since Meridian is a financial organization guaranteed by the federal government, you don’t have to worry about the safety of your money.

FAQs about the Meridian Credit Union Youth Savings Account

What are the terms and conditions of opening a Meridian Youth Savings Account?

You may discover the terms and conditions on the Meridian website that apply to the Youth Savings Account. If you still have questions about the account, you can contact the customer care representatives.

Who can open a Meridian Youth Savings Account?

A Youth Savings Account may be started for a kid under 18. A parent or guardian can open a youth savings account.

How do I become a member of Merdian Credit Union?

By creating a chequing or savings account with the Meridian Credit Union, you may become a member of the organization. Depending on your preference, you can open an account over the phone, at a branch, or online. In order to establish an account, you will be required to supply your personal information as well as any additional papers that may be required.