First Savings

First Savings is a savings account designed for children 12 and under. Open with as little as $1 and help teach the young person in your life that even small savings, over time, can add up! Help build healthy money habits and set savings goals for your young saver with a First Fed First Savings Account.

Features and Benefits

  • $0 monthly maintenance fee
  • Quarterly Statements (Monthly if electronic transactions have occurred)
  • Interest-earning potential with interest compounding daily

A minimum deposit of $1 to open. This is a variable interest rate account. This account will be changed to a Summit Savings Account when account holder turns 13 years old. See deposit rate webpage for more information.

Open Online

Consider other savings tools and tips for young savers and their families:

Certificates of Deposit (CDs)

Our CDs offer competitive fixed rates and different term lengths to match your financial needs and savings goals.

Education Savings

Need to save for college or other education expenses? Education Savings Accounts (ESA) distributions are tax-free when used for qualified expenses.

Health Savings

Health Savings Accounts (HSA) provide a tax-advantaged option when contributions are used for qualified healthcare expenses.

First Debit Card

For checking account holders 13 and up, our teen debit card lets you make purchases and withdraw money.