Member Youth Account Application Form

This form is designed for an adult to apply for a Youth Savings or Teen Checking account on behalf of a minor.

The Youth will be the primary account holder and the adult will be the joint account holder.

Now let's get started....

Let's get your information first (the adult/joint account holder).

First Name *

Last Name *

Social Security Number *

Date of Birth *

Phone Number *

Email Address *

What's your relationship to the youth? *

Now let's get the primary account holder's information (the youth).

First Name *

Last Name *

Social Security Number *

Date of Birth *

Gender

Male

Female

Other

Primary Address - to receive correspondence for the account *

Phone Number - to receive calls regarding the account.

Email Address (for Teen Checking eSign purposes)

Must be different than the adult or joint applicant's email.

What kind of account are you interested in opening?

Check all that apply:

Youth Savings Account (for ages 0 - 23 yrs.)

Teen Checking Account (for ages 14-17yrs.)*

Teen Checking Account with Debit Card*

The default daily limit on Teen debit cards is set to $200. If you would like a different amount, please type it below.

If left blank, will be set to $200 daily limit.

*Note: A Youth Savings Account will automatically be opened along with any Teen Checking Account, if the youth does not already have a youth savings account with Madison Credit Union.

Here is a an overview of our different accounts:

Youth Savings

With a higher interest rate than a standard savings account, our Youth Savings Account gives kids a boost to their financial future.*

Teen Checking

When your teen starts working or needs access to their money, a Teen Checking Account with a fee-free debit card is the key. And don't worry, we put a spending cap of $200 on the debit card.

*Interest earned at a rate of 2.0% APY (Annual Percentage Rate) above the regular savings account rate on amounts up to $10,000. Anything over $10,000 will earn interest at the regular savings account rate.

Would you like the minor to have the ability to make withdrawals from the account?

Yes

No

IMPORTANT NOTE: If you would like the minor to have withdrawal access to the account, two things are needed:

The youth would need to provide a photo ID. This could be a student ID, a passport, a state ID, etc.
The youth would need to sign the membership agreement. To complete the opening process online, the minor would need access to their own email address (different from the adult/joint member) to eSign the Account Agreement.

If the minor does not have access to an email address, other than a joint signer's, the account can still be opened on the child's behalf now, but before they can withdraw funds, they would need to come into the branch with the joint signer to sign new account agreements.

Would you like online access to the youth's account through our Jump Feature?

This feature allows you to access the youth's account and transfer between your accounts and the youth's account directly from online banking/mobile app.

Yes

No

Would you like to sign this account up for eStatements?

Yes

No

Next Steps:

A Member Service Representative will review the application.
If everything looks good, our team will send you an eSign form for you (and possibly the youth) to sign and date.
Our team will send information to set up online banking for the youth account. Once online banking is set up, we can activate the Jump feature to link the youth's account to your online banking account.
The account will need to be funded within 30 days of opening. If not funded within that time, it will be closed due to inactivity. Funds can be transferred to the account via a phone transfer (608-266-4750) or via online banking/mobile app once online banking and the Jump feature is set up.