BECU Early Saver Youth Account review

Kids earn 4.07% on the first $500 in their account — but only 0.02% after that.’s rating: 4.7 / 5.0


The BECU Early Saver Youth Account gives your child the chance to see compound interest in action with an impressive 4.07% APY and no monthly fees. But the rate drops to 0.02% on balances over $500 and you’ll need to be a BECU to get started.

Up to 4.07%





Minimum deposit to open


Annual percentage yield (APY)4.07% on balances of $0 to $500
0.02% on balances of $500.01+
Minimum deposit to open$0
Minimum balance to earn interest$0
Interest compoundingQuarterly
Fee per transaction over the limit$20

Review by

Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

The BECU Early Saver Youth Account is best for those who live in Washington State or a few select counties in Oregon and Idaho. You’re rewarded with no monthly fees, a free ATM card and 4.07% APY — but only on the first $500 in your account.

This high APY starts to matter less and less as your kid’s balance grows. For example, if they have a $2,500 balance that earns 4.07% on the first $500 and 0.02% after that, they’ll earn $10.59 in interest each year. But if they have a savings account that earns a flat 0.65% APY on their total balance, they’ll earn $16.30 a year in interest.

If your child keeps $2,500 or more in savings, they’ll earn more interest if they go with an account like Alliant Kids Savings Account.

How do I open a BECU Early Saver Youth Account?

Open your BECU Early Saver Youth Account by following these steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From BECU’s website, click the Everyday banking tab, then Youth savings.
  3. Click Open an account.
  4. Download the application and fill it out.
  5. Drop the application off at a local BECU branch or mail it to:
    PO Box 97050
    Seattle, WA 98124-7650


To apply, parents must be at least 18 years old and children must be under the age of 18. You’ll also need to meet the following eligibility requirements:

  • Valid Social Security number
  • Valid US residential address
  • Current BECU member

Required information

Have this information ready when you open your BECU Early Saver Youth Account:

  • Full name and date of birth
  • Government-issued photo ID
  • Social Security number or individual taxpayer ID number (ITIN)
  • Proof of address

Who can join Boeing Employee Credit Union?

There are three ways to qualify for a BECU membership:

  • You live or own a business in:
    • Washington state
    • These Oregon counties: Benton, Clackamas, Columbia, Lane, Linn, Marion, Multnomah, Polk, Washington and Yamhill counties
    • These Idaho counties: Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce and Shoshone
  • You work for Boeing, BECU or another credit union
  • You’re a member, volunteer, employee or retiree of the University of Washington Alumni Association, Washington State University Alumni Association, NW Credit Union Foundation or KEXP.

What are the benefits of a BECU Early Saver Youth Account?

The Early Saver Youth account is insured by the National Credit Union Administration and comes with these benefits:

  • High introductory APY. Kids can watch their savings stack up with a 4.07% on the first $500 in their account — that’s an automatic $10.19 in interest. But the rate drops to 0.02% for balances of over $500.
  • No monthly fees. No monthly maintenance fees, so your kid can keep more money for themselves.
  • No opening deposit. Open an account with as little or as much money as you’d like.
  • ATM card. Use your ATM card to withdraw cash for free at any BECU or CO-OP ATM nationwide.

What should I look out for?

Before opening a BECU Early Saver Youth Account, keep on eye out for these potential drawbacks:

  • APY may not be worth it. If your child keeps more than $2,500 in their account, they’ll likely earn more interest with one of these kids’ savings accounts.
  • No online application. As with some other kids savings accounts, you can’t open this one online. You can download the application from BECU’s website and either drop it off at a local branch or mail it in.
  • Membership requirements. You’ll need to be a BECU member to open this account. BECU primarily services those who work and live in Washington or select counties in Oregon and Idaho.
  • Account converts at 18. Like most kid’s saving accounts, the BECU Early Saver Youth account will convert into a Share Savings or Free Checking account once your child turns 18. At that point, you can remove yourself as a joint owner if you want.
  • Limited to one per child. While you can open as many standard savings accounts as you want for your kid, BECU limits you to one Early Saver Youth account per child.

If you’re looking for a similar kids’ savings account you can open online, check out Capital One Kids Savings or Alliant Kids Savings.

Compare BECU Early Saver Youth with other accounts

Use this table to see how BECU Early Saver Youth stacks up against other savings accounts. Want to get a sneak peek of how much interest you could earn? Enter your deposit amount into the box and click Calculate.

Name Product Annual Percentage Yield (APY) Fee Minimum deposit to open
Alliant Kids Savings Account
Finder Rating: 4.6 / 5: ★★★★★
Alliant Kids Savings Account
$1 per month
(can be waived)
This Kids Savings Account has no maintenance fees with e-statements and a high APY with a minimum daily balance of $100.
Capital One Kids Savings Account
Finder Rating: 4.7 / 5: ★★★★★
Capital One Kids Savings Account
Kids Savings Accounts are fee-free and don’t require a minimum balance.
BECU Early Saver Youth Account
Finder Rating: 4.7 / 5: ★★★★★
BECU Early Saver Youth Account
Up to 4.07%
Offers your child a premium interest rate on the first $500 in deposits.
Justice Federal Credit Union Young Savers
Finder Rating: 4 / 5: ★★★★★
Justice Federal Credit Union Young Savers
Up to 0.10%
Justice Federal designed the Young Savers Account especially for children to start saving money early and to learn money management skills.
Bank of America Minor Savings Account
Finder Rating: 3.6 / 5: ★★★★★
Bank of America Minor Savings Account
Help a child build a savings account and learn about banking.

Compare up to 4 providers

How do I deposit or withdraw my money?

Here are all the ways you can deposit and withdraw money from your BECU Early Saver Youth Account:


  • Cash or checks at a local branch
  • Cash deposit at an ATM
  • Direct deposit
  • Mobile check deposit
  • Transfer from another BECU account
  • ACH transfer from an external account


  • Local branch
  • ATM
  • Transfer to another BECU account
  • ACH transfer to an external account

How to contact BECU about my savings account

If you want to speak to a customer service representative about your account, you can:

  • Visit a local branch
  • Call customer service at 800-233-2328 weekdays from 7 a.m. to 7 p.m. PT and Saturdays from 9 a.m. to 1 p.m. PT.
  • Send a message through the mobile app or online banking portal

What other savings options does BECU offer?

BECU has quite a few savings accounts for individuals and businesses alike:

  • Member Share Savings. Includes an ATM card for quick cash withdrawals and has no minimum balance requirements or monthly fees.
  • Member Advantage Savings. Earn up to 2.02% on the first $500 in your account. Has no monthly fees and comes with up to $6 in non-network ATM refunds a month.
  • Money Market. A free savings account with checkwriting privileges and tiered interest rates.
  • Member Advantage Money Market. Take advantage of a higher APY on this money market account when you opt in to receive e-statements and make one electronic transaction a month.
  • Regular CD. Open with as little as $500. Terms range from three months to five years and you’ll get access to higher APYs with Member Advantage.
  • Bump CD. Open this 12- or 24-month CD and get one rate increase before maturity.
  • Add-to CD. Unlike other CDs, you can open this one with as little as $100 and make contributions at any time.
  • Veterans Family Fund CD. With this six-month CD, half the interest you earn goes to support veteran families in need and the other half is yours to keep.

BECU business accounts

  • Business Member Share savings. Earns interest and has no monthly fees. BECU recommends it for businesses with balances under $10,000.
  • Business Money Market account. Earns a higher APY than a Share savings account, comes with checkwriting privileges and is recommended for businesses that save more than $10,000.
  • Business fixed-rate CDs. Lock excess capital away for three months to five years. Minimum deposit to open is $500.

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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