Youth Programs

“Instills good financial lessons at a young age.”

www.peeweepenguin.com
 

Teaching basic money management skills to children is critical. A first step is opening a savings account for your child at East River Federal Credit Union. Our Pee Wee Penguin® program helps teach children to become regular savers and responsible borrowers now, so they'll be prepared when they're out on their own--no matter how far down the road that might be. We make saving money fun, while demonstrating the power of savings to help youngsters reach their goals. Don't wait! Help your children open a share savings account and encourage them to add to it each week or month. Come see us today to start your kids on the road to confident money management.

Becoming A Member…

Once you qualify for membership, all you need is $15 to open a Pee Wee Penguin Club® Account. All members 12 and under are automatically enrolled.

What is Pee Wee Penguin Club®?

The Pee Wee Penguin Club® is more than just a fun savings club. It’s a great savings tool designed to encourage saving and responsible spending. When your child has a membership account at the credit union and deposits money into that account, they not only earn interest, but they also earn prizes!

  • Make a deposit during the month and choose a prize from Pee Wee’s Ice Box (limit one prize a month).
  • Make at least one deposit a month quarterly (Jan-Mar, Apr-Jun, Jul-Sept, Oct-Dec) and be entered to win a McDonald’s gift card at the end of the quarter.
  • Make at least one deposit a month for 12 consecutive months and be entered to win a $25 Visa Gift Card in January.
  • On your birthday, you’ll get special greetings from Pee Wee and a coupon for one free item from Pee Wee’s Ice Box.

Club members receive their own savings account register and Pee Wee Penguin® Club membership card.

Website
Click here to go to the Pee Wee Penguin® website where you can read about Pee Wee, Kiwi and Sheldon. You’ll also find cool games to play and coloring pages that you can download, color, and print.

Newsletter
Click here to read Pee Wee's quarterly newsletter. The newsletter includes savings tips, jokes and more!

Other Products for Club Members:

Pee Wee Penguin Club® Share Certificates**
Club members qualify to open a Pee Wee Penguin Club® Share Certificate. For just $50, a club member may open up a 6, 12, 24, 36, 48, or 60 month certificate and earn interest!

Phone Banking**
Call our Phone Banking (Telephone Teller) to check your balances, transfer funds, and much more!

Online Banking**
Watch your money grow from home! East River Federal Credit Union’s Online Banking offers you access to all of your accounts through your computer, 24 hours a day, 7 days a week. Best of all, Online Banking is FREE! There are no set up fees, monthly fees, or transaction fees.

**For more information on Phone Banking, Online Banking, and Pee Wee Penguin Club® Share Certificates, please speak to a member service representative. Certificates automatically renew. Penalties apply for early withdrawal.

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Other Resources

There are other places you can go to learn about money and have some FUN at the same time. Check out these websites and test your financial "cents"!

 

CU Teen Account

It’s way too cool for adults… But perfect for teens!

CU Teen Account is a savings and financial education program developed just for teens. Teen members will get all the practical tools they need for smart money management in one convenient package that includes:

CU Savings

CU Savings is our standard savings account. It has a $15 minimum balance requirement with no monthly or annual fee. This account is your membership account in the credit union. All members 13 through 19 are automatically enrolled. You must open your CU Teen savings account and keep the minimum balance before any additional services can be obtained. This is a great place to discover the power of compound interest, where your deposits earn interest, and together they earn even more interest.

CU Share Certificates

Members qualify to open a CU Share Certificate. For just $50, a member may open up a 6, 12, 24, 36, 48, 60 month certificate and earn a higher interest rate!

CU Checking

CU Checking is a transaction account. There is no minimum balance required, no cost to use, no monthly fee, no per check charges, no deposit cutoff times and unlimited check writing privileges.

FREE VISA® Debit Card

Let’s talk about convenience! Everyone needs a checking account to pay for life’s requirements… purchase groceries, gas, clothing and more. But, many people don’t actually write checks, they use a VISA® Debit Card for their needs because it is so easy. With an ATM card you can get cash 24 hours a day at any ATM machine. With our Debit Card you can purchase things with the same ease as you would with a credit card, only instead of charging your purchase to a line of credit it deducts the purchase from your checking account. Using your Debit Card is easier than writing a check.

Co-Signed Loans

It may be time to start building your credit. People use credit to buy vehicles, pay for college, buy a home, or just to pay for dinner. Credit comes in many forms. As a CU Teen Account member we will give you the opportunity to start getting credit and earning the right to keep it.

Other Benefits

FREE 24/7 Access
As a CU Teen Account member you have unsurpassed access to your accounts. With our free Online Banking you can access your account from any PC any time it is convenient for you or you can access your account with Phone Banking at (866) 489-5567. With both services you can check your balance, transfer funds, and even make loan payments.

Headed to College?

Scholarships
As part of our commitment to higher education, East River Federal Credit Union has put together a scholarship program for its membership that is open to any graduating senior or full-time college, university, or vocational student. Find out more about our scholarship program.

Sallie Mae Smart Option Student Loan®

East River Federal Credit Union has also partnered with Sallie Mae to offer you the Sallie Mae Smart Option Student Loan®. The Sallie Mae Smart Option Student Loan® helps you save money, build your credit, and pay off your student loan faster. It’s an ideal education funding solution if you still need funds after maximizing grants, scholarships, and federal loans.

Private student loans help to fill the funding gap between the cost of attending school when the amount of federal loans, grants and scholarships may not be enough to cover the total cost of post-secondary education.

Click here to learn more and to apply online.

Other Loans
East River Federal Credit Union offers our CU Teen Account members loans for almost any worthwhile purpose. As a student, you may need a new or used vehicle loan or a loan for a personal computer. We offer great loan rates and convenient payment plans. Remember, no loan is too small at your credit union, and loan qualifications apply.

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