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Mountain America Credit Union Teen Savings account review

This savings account for teens is free until your kid turns 26, but it earns little interest.’s rating: 3.8 / 5.0


The Mountain America Credit Union (MACU) Teen Savings account is best for parents who live in certain counties in Arizona, Idaho or Utah and have kids who are at least 13 years old. The account doesn’t require any ongoing service fees, and the minimum deposit is just $1. You and your child can use the account for free until your kid reaches the age of 26, but the interest rate isn’t competitive compared to other savings accounts for kids.






Minimum deposit to open


Annual percentage yield (APY)0.05%
Minimum deposit to open$1
Minimum balance to earn interest$25
Interest compoundingDaily

Review by

Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.

Expert review

The MACU Teen Savings account is best for those who are already members of Mountain America Credit Union and have a kid who’s at least 13 years old. But if you’re not tied to MACU, better accounts exist, including teen savings accounts from Alliant and Capital One.

The MACU Teen Savings account only earns 0.05% APY, which is lower than most savings accounts. This means it only earns $0.05 for every $100 kept in the account each year. By comparison, the Alliant Kids Savings Account earns 0.55% APY and the Capital One Kids Savings Account earns 0.3% APY. That equates to $0.55 or $0.30 in interest for every $100 per year.

How do I open a MACU Teen Savings account?

You can open a Teen Savings account at a Mountain America Credit Union branch or via the credit union’s website using these six steps.

  1. Go to the provider’s site and follow the steps to apply.
  2. Select Accounts, then Teen Savings.
  3. Select Open your account.
  4. Enter a promo code if you have one, otherwise, select Get started.
  5. Become a MACU member if you are not one currently.
  6. Enter your account number once your membership with the credit union is confirmed and continue signing up for the account.

Who can become a member of Mountain America Credit Union?

To become a member of Mountain America Credit Union, you must meet any of the following criteria.

  • Be a close relative of a MACU member
  • Live with an existing Mountain America Credit Union member
  • Work or volunteer for an affiliated association or a member of MACU’s Select Employer Group
  • Live in Maricopa County, Arizona; Boise, Elmore, Gem, Owyhee or Valley County, Idaho; or Duchesne, Salt Lake, Uintah, Wasatch or Grand County, Utah


To open this account, you must first be a member of Mountain America Credit Union and your child must be at least 13 years old.

Required information

Provide the following information when opening a Mountain America Credit Union Teen Savings account.

  • Personal contact information
  • Social Security number
  • Driver license details

What are the benefits of a MACU Teen Savings account?

MACU’s Teen Savings has a few standout features that may entice you to open an account.

  • ATM card. Unlike most savings accounts, MACU comes with an optional ATM card that’s linked to your Teen Savings account.
  • Open with one buck. You can open this account with a $1 deposit, but your account will close if you empty the account.
  • Converts to Primary Savings. While most kids’ savings accounts convert into an adult account once they turn 18, your teen will keep this account until they’re 26. Once they’re 26, the account converts into a Primary Savings account, which also has no monthly fee.

What should I look out for?

There are also a few drawbacks associated with MACU’s Teen Savings account.

  • Low APY. This account earns only 0.05% APY, which compounds monthly. This is lower than other savings accounts for kids.
  • Minimum earning balance. Many teen savings accounts collect interest on any balance, but this account requires you to have at least $25 in your account to start earning interest.
  • Lacks educational features. Some other savings accounts for kids, including ones offered by Alliant and Capital One, provide access to educational resources to boost your kid’s financial literacy. MACU doesn’t offer such features.

Compare MACU’s Teen Savings with other savings accounts

Compare other popular savings accounts for kids based on their fees and interest rates.

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
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
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?

You can move money into and out of the MACU Teen Savings account in several ways.

Funding options

  • ATM deposit. MACU offers an ATM card your kid can use to deposit funds into their savings account at any MACU ATM or CO-OP Network ATM that accepts deposits. This card cannot be used for purchases.
  • Direct deposit. If your kid has a job, their employer can deposit their paycheck directly into their Teen Savings account.
  • Branch. You or your kid can deposit funds into a Teen Savings account at a MACU branch.
  • Wire transfer. Wire funds into this account for $10 per wire.
  • Mail. Mail an endorsed check to your local MACU branch.
  • Mobile deposit. Deposit checks into this account using the MACU smartphone app.

Withdraw options

  • Branch. You or your kid can withdraw funds from any MACU branch.
  • ATMs. Use the ATM card linked to this account to withdraw funds from ATMs.
  • ACH transfer. Link this bank to an external account and send outgoing transfers.
  • Wire transfer. Send domestic wire transfers for $15 and international wire transfers for $30.

What other savings options does MACU offer?

Aside from its Teens Savings account, MACU offers various other savings options for members of all ages.

  • MACU Youth Savings. Designed for minors with a joint custodian over the age of 18, this account has no monthly service fees and earns dividends on balances greater than $25.
  • Traditional Savings. No fees and only requires $1 to open, but only balances of $100 or more earn interest and the APY is a measly 0.05%.
  • Money Market. Access your funds more frequently than you could with a standard savings account, but interest ranges from 0.05% to 0.1%, and you’ll only earn the highest APY on balances of $50,000 or more.
  • CDs. Open a Certificate account with a deposit of at least $500 or open a Growth certificate with just $5. APYs range from 0.2% to 0.7%, with terms spanning from six months to five years. Youth Certificates are also available with terms ranging from one to five years and APYs ranging from 0.35% to 0.8%.
  • IRAs. MACU offers Roth and Traditional IRAs as well as rollovers and transfers.

How to contact Mountain America Credit Union about my savings account?

If you need help with your MACU account, you can contact the credit union in five ways.

  • In person. Visit any one of MACU’s 95 branches throughout Utah, Arizona, Idaho, Montana, New Mexico and Nevada.
  • Phone. Call 1-800-748-4302.
  • Secure message. Send a secure message to a support specialist via MACU’s website.
  • Live chat. Start a live chat on MACU’s website on weekdays from 9 a.m. to 5 p.m. MT.
  • Twitter. Send tweets to @MountainAmerica.

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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