Our Deep-Rooted Commitment to Families
Last year, Apple Federal Credit Union checked off one of my personal bucket-list items: we had a segment on WTOP News.
Our program, Raising Financially Responsible Kids, was a three-part panel series focused on financial education, career readiness and fraud prevention. We spoke with experts—including an FBI agent, how cool is that?—to give families real tips on finances for kids.
Parents play the biggest role in giving kids these lessons. They know their children better than anyone, so it’s completely up to them when to have these talks and about what topics. We’re not trying to tell anyone how it's done. We just don’t think they should have to go at it all alone.
Apple FCU was founded by teachers, for teachers. Supporting the people who educate and care for children is in our DNA. We’re proud to continue this by giving families resources and tools to build their kids’ financial confidence. Really, it’s a natural extension of who we’ve always been.
More Than a Place to Keep Your Money
To be a true financial partner for families, it’s not enough to offer youth accounts. We help families truly understand the products that are right for them, how they really work and what else they may need to accomplish their goals.
If you’re a parent figuring out which account is appropriate for your child, and if they’re even the right age for it, there’s really no correct answer. That can feel daunting. Plus, between work, school and all the other responsibilities parents have, there isn’t always time to sit down and work through it all.
This is exactly why we built our Families page. It’s a one-stop shop for answers to common questions, educational content and products that work for families. It saves you the time of having to navigate through the myriads of resources out there, and lets you get right to making the decision you feel good about.
Banking That Grows with Your Family
Earlier this year, we gave the Families page an extra-special shout-out by highlighting the four bundles that serve as its pillars.
The Family Bundles highlight the four main stages of every child’s life, from bringing them home to moving-out day and beyond. The financial resources you’d need for every age are grouped together to guide your journey. This means it’s easy to anticipate what your child needs now and what they might need in a few years.
Of course, every family’s journey is different. Some parents may be opening a child’s first savings account. Others are helping their child make their first big purchase, like a car. Our goal is to meet families where they are and travel alongside them as they navigate these changes.
While I’m proud of these self-serve resources, I know that sometimes, nothing beats face-to-face support. Our teams online and in the branches can help, no matter the question. We're here to guide you every step of the way.
Trusted Information, Delivered Monthly
If you’re a member with a family of your own, you probably got our brand-new newsletter this past spring. We launched the Apple Family newsletter in April to deliver tips and resources straight to busy families’ inboxes.
We choose the content with families in mind—from educational resources, to information about products that may support your goals, to our Kid’s Corner with word searches and coloring pages.
With so much financial advice competing for families’ attention online and on social media, we want Apple to be a source parents can trust in all the hubbub. That means sharing reliable information, but it also means giving families practical tools to put that guidance into action.
Giving More Kids Tools to Learn
In September, we lowered the minimum age of our eXtras Student Checking to 8. I’m so excited about the flexibility and autonomy this will give families in their kids’ financial journeys.
What does an 8-year-old need a debit card for? These days, a lot, actually! A kid may need a card for a field trip, a school book fair or a day out with a friend’s family. More and more places are going cashless, such as theme parks or sports arenas, so having access to a safe, convenient checking account is becoming more common. And don’t worry, you have a choice in how your child uses an Apple FCU debit card. They can carry the card on them, or load it into a smartphone’s or smartwatch’s digital wallet for added security and peace of mind.
A debit card can also clear up any mysteries around spending. I remember getting cash from my mom as a kid, then having to answer all her questions about where exactly it went. Parents and children can review transactions together in Apple FCU Digital Banking, no “I don’t remember”s involved.
Plus, with our four kid-approved debit card designs, the whole learning experience is more exciting and personable. I mean, imagine your Swiftie daughter rocking our pink friendship bracelet card. Any time she pulls it out to admire it is another discussion opportunity for you!
If getting a debit card for your 8-year-old isn’t right for your family, we get it! There is no single right age for every child. It’s a large responsibility, and you may need to have more conversations with your child before they hit that milestone.
When you do open that first account, it doesn’t mean your child is out there in the world, tapping to pay at every toy store or candy shop. How you introduce these tools to your child is completely up to you; Apple FCU will back you up each step of the way. Check out the tools in Card Manager where you can setup transaction alerts, block certain categories of spending, turn the card off/on and more.
Turning Everyday Moments into Money Lessons
Educating your kids on money does not have to begin with a long, complicated conversation. It can start by opening your Apple FCU Mobile App and reviewing your balance together. From there, you can explain the difference between saving and spending, or even let your child make a small purchase with their own money.
As kids grow older, these conversations can expand to include budgeting, credit, fraud prevention and the financial responsibilities that come with adulthood. You may choose to start giving them an allowance, or if they’re old enough, help them look for a part-time job.
The most important step is to keep the conversation open. Children are already hearing about money from their friends and what they see on TV and social media. Talking about it at home gives you, as their parent, an opportunity to provide context, answer questions and reinforce healthy habits.
Our Goal for the Future
Our hope is that families across Northern Virginia will turn to us for any questions they have about family banking, no matter the life stage. To accomplish this, we’ll continue to listen to our members’ feedback, identify gaps and create resources to make financial education easier to understand.
It also means continuing to support the different journeys that different families take. If you’re ready to give your kid their own debit card at age 8, we’re here to cheer you on. If you want them to better understand the basics before you give them the tools, we’ll keep providing resources to help you have those conversations.
Parents are the guiding lights for children in every way. When it comes to financial education, Apple FCU wants to help you shine a little brighter.
