Student Savings Accounts

Smart students can figure out how it all adds up

It doesn't take a financial expert to know that free cash is a good thing. At CommonWealth One, we make saving for the future more profitable than ever with an account that's always earning extra money. To make the deal even sweeter, you can track your progress with our free mobile app¹ and other digital banking tools.

• Designed for individuals ages 13 to 22
• Low $5 minimum balance requirement
• No monthly maintenance fees
• Earn 2.1% APY* on first $1,000 on deposit²
• Can serve as overdraft protection for Checking Account
• Unlimited access to Online, Mobile, and Text Banking
• Offers access to Financial Education resources through “It’s A Money Thing” and Banzai

CommonWealth One Federal Credit Union is a full-service credit union with branches in Virginia and Washington, D.C.

*Annual Percentage Yield (APY).

¹Carrier rates and fees may apply.

²Standard Annual Percentage Yield applies to any account balances over $1,000. Only one Youth Savings Account per Social Security Number. Parent/legal guardian required as joint owner, if under the age of 18.

Children’s Online Privacy Protection Act

CommonWealth One Federal Credit Union recognizes its responsibility to protect the privacy of our youngest members. We are committed to protecting our young members and other visitors as they visit our kids section of our website.

It is the intent of CommonWealth One Federal Credit Union to comply with the Children’s Online Privacy Protection Act (COPPA) that governs and protects the privacy of our youngest members. For purposes of these guidelines, our youngest members are children under the age of 13. The online financial services offered through the CommonWealth One’s website are not designated for or directed toward children under age 13. Parents of individuals within this age group could register for online accounts.

We do not knowingly solicit or collect data from children, and we do not knowingly market to children online without express parental consent or notification. If we receive online information from anyone that we know to be a child including personal information such as name, address, email, account number, telephone, and social security number, we will only use the information to respond directly to a child’s request, seek parental consent, or provide parental notice. We will not sell, give, or share their personal information to/with any third party vendor or any other organization.

A parent or guardian has the right to review the personal information collected on a child under 13 years old. If requested, the parent or guardian can have the information deleted and refuse to allow any further collection or use of the child’s information. To make such requests, please contact us at (703) 823-5211.

CommonWealth One Federal Credit Union may collect information on domain names, dates and times of visits, and number of page views. This information contains no personal information. It will only be used to keep track of usage of our site and help improve our member’s overall website experience. Visitor information is never sold, given, or discussed with third parties.

CommonWealth One Federal Credit Union is committed to protecting our youngest members and will comply with all COPPA notice requirements. For more information about the Children’s Online Privacy Protection Act (COPPA), visit the FTC website, www.ftc.gov.