Start their financial journey at UMassFive.
Whether you're starting an account to keep birthday money from grandma, or want to set your child up with healthy spending habits with their first debit card, UMassFive is here to support your family, every step of the way.
Jump To: Base Savings Goal Savings Youth Term Deposit Savings Graduate Term Deposit Savings Co-op Advantage Checking Youth & Teen Resources & Games
Help them start their financial journey with our Base Savings account, the foundation of their Credit Union membership. Encourage smart saving habits by earning a higher rate on their first $500—an easy way to teach the value of building an emergency fund.
| Minimum Opening Deposit | Balance | Dividend Rate | Annual Percentage Yield |
|---|---|---|---|
| $5 | $0 - $500 | 0.25% | 0.25% |
| - | $500.01 and over | 0.05% | 0.25% - 0.05% |
Rates as stated for this account apply only to the portions of the account balance in each tier, which will result in a blended Annual Percentage Yield for the full account balance. Fees could reduce the earnings on this account. Rate may change after account is opened.
Help your child save for short-term goals with Goal Savings—a flexible account that keeps their funds easily accessible while they work toward a specific savings goal or purchase.
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| Minimum Balance | Dividend Rate | Annual Percentage Yield |
|---|---|---|
| No Minimum Balance | 0.05% | 0.05% |
Fees could reduce the earnings on this account. Rate may change after account is opened.
Jumpstart your child’s long-term savings with a Youth Term Deposit that matures on their 13th birthday. This unique account offers the flexibility to add funds at any time, while the balance earns dividends monthly.
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| Balance | Dividend Rate | Annual Percentage Yield |
|---|---|---|
| $0 -$10,000 | 3.50% | 3.55% |
Co-op Points are not available to increase rate on Youth Term Deposits. One Youth Term Deposit allowed per UMassFive member, member must be age 0-12. Youth Term Deposit must be in the child’s name and can be added to at any time. Account must be opened with a minimum of $100; maximum account opening balance of $10,000. Penalty of 100% of earned dividends will be imposed for withdrawal before child’s 13th birthday. Fees could reduce earnings on this account.
Keep their savings growing with a Graduate Term Deposit, designed to continue their long-term savings journey. Whether automatically rolling over a Youth Term Deposit or opening a new one, this account matures on their 18th birthday and also offers the flexibility to add funds throughout the term.
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| Balance | Dividend Rate | Annual Percentage Yield |
|---|---|---|
| $0 - $15,000.00 | 3.75% | 3.81% |
Co-op Points are not available to increase rate on Graduate Term Deposits. One Graduate Term Deposit allowed per UMassFive member, member must be age 13-17. Graduate Term Deposit must be in the child’s name and can be added to at any time. Account must be opened with a minimum of $100; maximum account opening balance of $7,500. Maximum account balance of $15,000. Penalty of earned dividends will be imposed for withdrawal before child’s 18th birthday as follows: If the Term Deposit is less than one year into the term, the penalty is any dividends accrued. If the Term Deposit is one year or more into the term year, the penalty is 12 months of dividends. Fees could reduce earnings on this account.
Available for ages 10 and up, our primary checking account is designed to help your child build smart spending habits. With features including debit card round-up to savings and easy card controls (including for parents) right in our mobile app, managing money has never been more convenient
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Start their financial journey today!
Want to teach your kids about money but not sure where to start? Join us to learn how to guide your children through key financial concepts, tailored to their age and development. From teaching preschoolers the value of a dollar to helping teens manage money and save, we’ll provide practical tips and strategies to build lifelong financial confidence.
| Rates subject to change at any time. Rates effective as of November 4, 2025. APY is accurate as of the last dividend declaration date., |