Media City Credit Union, a local financial cooperative who returns its earnings back to its Member-Owners, focuses on helping people and giving back to its community. Media City CU offers youth checking accounts for young people to help them learn about money management and savings.
As young high school and college students embark on their academic careers, navigating personal finances can seem like a daunting task. Opening a youth checking account with Media City CU allows young people to be financially empowered. As graduation season approaches and students embark on the next phase of their journeys, it is important to understand the benefits of checking accounts with Media City CU. The benefits and assets of a youth account with Media City CU are:
- Youth checking accounts serve as a tool for financial education. Credit unions like Media City CU offer educational resources, workshops, and personalized guidance to foster financial literacy within the community. By instilling fundamental financial skills early on, young people will be able to make decisions about budgeting, saving, managing credit, and navigating adulthood. This is especially important because this isn’t often taught in school.
- Youth accounts typically offer low to no fees. Unlike traditional banks, credit unions typically offer youth accounts with little to no fees so that young people can focus on spending their money on more important things and avoiding extra charges.
- There are competitive interest rates. Young individuals who open accounts at a credit union are encouraged to save via competitive interest rates on savings that allow their money to grow over time.
- Credit unions give youth access to credit-building opportunities. It is important for young adults to establish a positive credit history as they transition into adulthood. Media City CU offers several small loan and credit card options to help students build up their credit by making timely payments.
- Young people with accounts have access to the Media City CU community. Compared to larger banks, credit unions like Media City CU are deeply rooted in their communities as member-owned financial cooperatives. Young people can take advantage of personalized service and community involvement at MCCU.
- Media City CU’s youth accounts are convenient and accessible. Young people can access their accounts by visiting the branch in person, banking online, or using the app. MCCU also offers a digital wallet that keeps forms of payment in one place for ease of access. For young individuals used to living in a technology-driven world, this is a perfect way to help them stay financially organized.
- Media City CU offers an annual scholarship for local students. The credit union is proud to offer opportunities to young adults , like their annual college scholarship that students can apply to as they look ahead to continue their educational career at trade schools or universities. Media City CU aims to alleviate the burden of tuition and expenses, making higher education more affordable for all students.
As young people navigate the new challenges that come with the transition into adulthood, it is important for them to adopt responsible financial habits. By choosing a credit union like Media City CU as their financial partner, students gain access to banking services and financial independence, working towards their financial goals. To learn more about youth accounts or other services offered at Media City CU, reach out to our team or visit our website at mediacitycu.org.
About Media City Credit Union
Media City Credit Union has served its members since 1936 when we were founded by
employees of Helms Bakeries. A credit union is like a bank, only better. Media City offers checking, savings, credit cards and loans, yet profits are returned back to members in the form of reduced fees, higher savings rates and lower loan rates. Media City CU is a financial cooperative, giving back to its member-owners.
The credit union provides fee-free access at 75,000 ATMs worldwide and provides online account access. If you live, work, worship, or attend school anywhere in Burbank, or if you have a relative who is already a member, you can become a member too. As soon as you join, your family members also become eligible. Media City CU partnered with the ChangeWorks Foundation and by making a minimum $25 donation to this wonderful cause (Media City matches the $25 donation), you also become eligible for membership. New members enjoy immediate access to all services, including loans.
