Reviewed by: Cindy Hatcher
2 easy ways to teach kids money skills locally—where + how
Reading time: 4 minutes
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Many studies confirm that teaching kids money skills early helps set them up for success financially as adults. But most parents don’t see the household budget as a kid’s concern.
So how do they learn?
We recently discovered two great ways at Redstone Federal Credit Union, which offers its members accounts for kids that can be opened with as little as $5. These programs are so important to Redstone that its teams go all-out to show kids how managing money well can be fun.
Read on to learn more about how to start teaching your kids money skills now.
Quick reference
Redstone programs that teach kids money skills
Redstone offers two types of accounts for kids:
- For younger children: S.T.A.R. Club savings accounts
- For teens: Safeguard Checking
Children of Redstone members qualify: Check out the Redstone website to find out how to become a member.
What is a Redstone S.T.A.R. Club savings account?
Redstone’s S.T.A.R. Club stands for “Start Today at Redstone” and opens automatically when parents open a first savings account for a child who is 0 to 12.
🔥 Hot tip: During special promotions, Redstone will match up to $200 of the average daily deposit balance after the first 30 days of opening a first youth savings account. The next promo runs from Aug. 4 through Oct. 31, 2026!
S.T.A.R. Club members receive:
- A cute piggy bank at account opening 🐷
- Record keeper for in-branch deposits ✍️
- Free coin machine use 💰
- Exclusive invites to special club events 💌
To open an account, here’s what to bring:
- Child’s Social Security card
- Proof of address, like a current utility bill
- $5 opening deposit
- Parent’s or legal guardian’s valid ID (required for kids ages 0-15)
What is Safeguard Checking for teens at Redstone?
Turning 13 opens the door to Redstone’s Safeguard Checking, a free account built for teens learning to manage their own money.
Account holders receive a debit card for purchases and balance tracking, while parents or legal guardians stay in the loop.
Safeguard Checking features:
- No monthly maintenance fee for members aged 24 and younger
- No paper checks
- Free money orders
- No fees for non-sufficient funds (although negative balances can still occur)
Why teaching kids money skills matters to Redstone
Redstone leaders say that teaching kids money skills is at the heart of what they do, and that it comes down to instilling three principles:
- spending wisely
- saving sensibly
- sharing readily
Every April, Redstone branches even compete over who can create the best Youth Month displays and take bragging rights seriously. This year, South Parkway Branch Manager Scott Foster’s team raised the bar for the win.
“This year’s theme was amazing, as we were able to build not one, but three stations that the kids could engage with, which was something we haven’t done in the past. The kids absolutely loved it, and watching their eyes light up with each clue and connected adventure was so much fun.”
– Scott Foster, Redstone Federal Credit Union South Parkway Branch Manager
RFCU is federally insured by NCUA. Membership required; visit redfcu.org/join for details.
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