Student Savings Account
It's in your interest to have one.
Our calculator estimates how long it will take to reach your goal.
Free money? Sure, you can have some of ours.
Yes, we thought that might get your attention. But it's totally true. When you open a student savings account, we start making regular dividend payments, adding our dollars to yours.
Just $5 to get started
No monthly fees
Spending is definitely fun. Saving can be, too.
When you get those birthday bucks, allowance cash or part-time job pay, you're probably thinking, "What can I buy now?" But take a deep breath and think of the future. By putting some of that money in a savings account, one day you'll be able to afford ever better stuff - like a car, cool electronics or your next year in college.
- Designed for individuals ages 13 to 22
- Low $5 minimum balance requirement
- No monthly maintenance fees
- Earn 2.10% APY* on first $1,000 on deposit2
- Can serve as overdraft protection for your checking account
- Unlimited access to online, mobile and text banking
- Offers access to financial education resources through “It’s A Money Thing” and Banzai
Smart choice! We'll provide options to make the financial and application process as seamless as possible.
What's Your Journey?
My husband and I have a joint account, while my daughter has her own account with me as a co-signer to help her manage her money responsibly. I appreciated the staff's step-by-step assistance in transferring money to her account when she began college.
Member Since 2012
CommonWealth One Federal Credit Union is a full-service financial institution with branches in Northern Virginia, Maryland and Washington D.C.
1Carrier rates and fees may apply.
2Standard Annual Percentage Yield applies to any account balances over $1,000. Only one Youth Savings Account per Social Security Number. Parent/legal guardian required as joint owner, if under the age of 18.
Children’s Online Privacy Protection Act
CommonWealth One Federal Credit Union recognizes its responsibility to protect the privacy of our youngest members. We are committed to protecting our young members and other visitors as they visit our kids section of our website.
It is the intent of CommonWealth One Federal Credit Union to comply with the Children’s Online Privacy Protection Act (COPPA) that governs and protects the privacy of our youngest members. For purposes of these guidelines, our youngest members are children under the age of 13. The online financial services offered through the CommonWealth One’s website are not designated for or directed toward children under age 13. Parents of individuals within this age group could register for online accounts.
We do not knowingly solicit or collect data from children, and we do not knowingly market to children online without express parental consent or notification. If we receive online information from anyone that we know to be a child including personal information such as name, address, email, account number, telephone, and social security number, we will only use the information to respond directly to a child’s request, seek parental consent, or provide parental notice. We will not sell, give, or share their personal information to/with any third party vendor or any other organization.
A parent or guardian has the right to review the personal information collected on a child under 13 years old. If requested, the parent or guardian can have the information deleted and refuse to allow any further collection or use of the child’s information. To make such requests, please contact us at (703) 823-5211.
CommonWealth One Federal Credit Union may collect information on domain names, dates and times of visits, and number of page views. This information contains no personal information. It will only be used to keep track of usage of our site and help improve our member’s overall website experience. Visitor information is never sold, given, or discussed with third parties.
CommonWealth One Federal Credit Union is committed to protecting our youngest members and will comply with all COPPA notice requirements. For more information about the Children’s Online Privacy Protection Act (COPPA), visit the FTC website, www.ftc.gov.