The best time to learn good money management habits is when you’re young. Tower offers opportunities for young people of all ages to learn how to save money and manage their accounts. A lifetime of good financial decision-making starts here.

Parents or guardians can open a Prime Share account in their child’s name. To take advantage of compounding dividends, open a Share Certificate in your child’s name, too. The sooner you start setting money aside for your young savers, the more time it has to grow.

 

Looney Tunes Savings Club

Help your child get actively involved in saving money from an early age with the Looney Tunes Savings Club.

  • Available for ages 3 to 12
  • Kids receive a special Looney Tunes Savings Club kit with sticker sheet and personal ID card when they join
  • Young savers earn a Tower “T” sticker with each $5 deposit to their account and get a special prize when they fill a row with 10 “T” stickers

To open a Looney Tunes Savings Club, complete the application form and mail it in or turn it in at a Tower branch.

 

Club Accounts

As children get older, teach them how to save for the things they need or want with Tower’s “You Name It” and Holiday Club accounts. Seeing each deposit they make gets them closer to that new bike, tech gadget, or first concert ticket and introduces them to the habit of saving.

Games for Young Savers

Peter Pig Money Counter game
Cash Puzzler game
Money Metropolis game
Financial Ed game

Open an Account

To open an account, please visit a branch or call our Member Service Center at 301-497-7000 or 866-56-TOWER. New accounts for minors may not be opened online. One form of appropriate identification for the minor is required, as well as a signature if the minor is older than 10 years of age. Acceptable forms of identification include: Birth Certificate, Social Security Card, US Passport, Driver’s License, State ID, Military Dependent ID.

As a teenager, you’re starting to gain greater independence and manage your own money. From making money at your first part-time job to saving for your first car or college, you’re at the point in your life where you begin making important financial decisions.

 

Savings Accounts

Teens 17 and under can have their parents open a Prime Share account in their name.  The teen and their parent can also open “You Name It” and Holiday Club savings accounts and take advantage of these benefits:

  • Free online and mobile banking
  • Earn dividends on your balance (your money makes money just by being in your account)
  • No monthly fees or service charges

 

Checking Accounts

If you’re 16-17, you can open your first checking account with Tower as long as you have an adult joint account owner.

Games for Teen Earners

Financial Football game
Hit The Road game

Open an Account

To open an account, please visit a branch or call our Member Service Center at 301-497-7000 or 866-56-TOWER. New accounts for minors may not be opened online. One form of appropriate identification for the minor is required, as well as a signature if the minor is older than 10 years of age. Acceptable forms of identification include: Birth Certificate, Social Security Card, US Passport, Driver’s License, State ID, Military Dependent ID.

Whether you’re going to college or working full time, you could probably use a little help paying for things. Tower offers great rates and flexible terms to help you borrow affordably and build a strong credit history. The more carefully you manage your credit now, the easier it will be to secure a loan in the future (like a mortgage for your first home).

Tower offers young adults:

If you are earning money, now is also the right time to start saving for retirement. It might seem like a long time away, but the sooner you start saving, the more money you’ll earn thanks to compounding dividends. See our IRA options.

Games for Young Adults

Financial Football game
Countdown To Retirement game

Open an Account

Login to Home Banking or use Tower’s free Mobile App to open an account or apply for a loan. To open an IRA, please visit a branch or call our Member Service Center at 301-497-7000 or 866-56-TOWER.

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    Electronic Transfer Disclosure – Federal regulations limit the total number of electronic transfers from any non-transactional account – Prime Share (savings), Clubs, or Money Market – to six (6) per account per month. This includes overdraft transfers, online Cross Member Transfers and Funds Transfer, and cleared checks from a Money Market account. You can make an unlimited number of transfers and withdrawals through the mail, at an ATM, and in person at a branch. Transfers made to a Tower loan account are not included in the limitation of six per account per month.