FECU Memberships for Youth, Teens, and Young Adults

$ave-N-Grow accounts help young members learn to save and spend responsibly. FECU Membership* is available to all Federated Insurance^® employees’ and retirees’ children and grandchildren. Parents or grandparents can open and manage the account as joint owners on behalf of children under 18 years old. 

Requests to start a new membership for a minor can be sent by emailing fedecu@fedins.com. You can also stop by one of our offices located in the Owatonna Federated Insurance buildings for personalized service.

Note: Minors cannot apply for FECU membership using the online site.

Finance Education

FECU provides free education about checking, identity theft, credit, budgeting, and more so members can make smart financial choices. The Zogo^© mobile app provides free bite-sized lessons on personal finance. FECU members can receive gift cards to Starbucks, Target, Amazon, Best Buy, GameStop, and more by using the Zogo mobile app.

Download the Zogo App using the code: SaveNGrow

FECU Checking Accounts 

Helping teens and young adults understand the value of spending wisely will pay off as they grow. Checking accounts are available to children at least 14 years old with joint parental ownership required until the child turns 18 years old. $ave-N-Grow checking accounts come with a Debit Card that can be frozen using the tools available in online banking and mobile app. Parents can stay connected with mobile alerts, online banking, and text banking. These tools can be used for conversations about money management and how to avoid costly mistakes. 

Managing Spending 

Secure online banking and Federated Employees CU mobile app let everyone know what’s happening. Mobile Alerts are a great tool for helping teens and young adults feel they are accomplishing something independently and alerts provide peace of mind to parents or guardians. 

Don't have online access? Enroll in Online Banking
Mobile App Download: Search for “Federated Employees CU” in the app store  

• Google Play
• Apple Store

Start Building Credit History with a Credit Card 

When looking for your first credit card, make sure to choose one that fits your needs.  It takes time and patience to build credit, but starting early and being responsible with credit can help you establish a positive credit history. It's also important to make your payments on time and in full each month to avoid fees. 

• Learn more and apply for a credit card online

Note: The creditor and issuer of these cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., and Mastercard International Incorporated.
 

$ave-N-Grow Club

$ave-N-Grow accounts for individuals under 17 years old will require joint account ownership with an adult until children turn 18 years old. Accounts offer saving and spending options with terms and conditions to help children learn to save and spend responsibly. They’ll receive a $ave-N-Grow Club birthday letter with a coupon for a half-percent dividend increase on a new 9-month term share certificate and receive a $10 gift card. Redeem the $ave-N-Grow Club offer by opening the new 9-month term share certificate with a $100 minimum deposit during their birthday month.

*Membership is available to all Federated Insurance Companies employees and retirees, their spouses, children, grandchildren, parents, and siblings. Membership is also available to all Federated Insurance^® employees’ and retirees’ legally adopted children and grandchildren as well as stepfamily members.  Contact your FECU branch or fill out the New Member Application to join today. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also verify your identity through a credit report or other electronic verification system.

Trademarked names, content, images, features, and products used belong to their respective owners. Federated Employees Credit Union provides third-party links for your convenience. These services and incentives are provided through external third parties, entirely independent from FECU. Terms and conditions apply. The Zogo Terms of Service and Zogo Privacy Policy are available online. These third-party features, applications, and incentives are subject to change. The FECU is not responsible in any way for security, content, services, contractual terms, or data usage. Neither FECU nor its employees are providing legal, financial, investments, tax, or employment advice.