Every April, National Credit Union Youth Month serves to encourage kids to develop healthy saving habits by making savings fun and exciting. This April, we encourage you to help your young ones to start saving and develop early money management skills.
When you open a new youth savings account, you’ll receive a free gift at account opening.
Our Youth Savings features:
- No membership fee
- $5.00 minimum balance to open
- No Paper Statement Fees
- Easily deposit into your child’s savings with Account-to-Account transfers in online banking
Open Youth Account
As Congress considers new infrastructure spending, lawmakers are considering unconventional sources of revenue to fund their plans. One proposal under consideration would require financial institutions like My Healthcare FCU to report to the Internal Revenue Service (IRS) many activities on accounts with balances over $600. Such an unprecedented grab of your personal financial data raises several concerns.
- This proposal would violate the personal privacy of consumers like you by forcing credit unions and other financial institutions to provide the government with information that does not reflect taxable activity.
- Financial institutions—particularly those in rural and low-income communities—would face a new and expensive regulatory burden that could make it untenable to serve those consumers already left behind by Wall Street banks.
- The government relies on decades old data systems to store and secure IRS information. These systems have already been compromised in recent years, and the addition of this type of data only increases the likelihood of a future breach of your personal financial information.
What We Need from You
At MyHCFCU, we value civic engagement and believe it’s our duty to inform you when legislation is being discussed that could directly affect you.
Please consider lending your voice to this important effort—click on this link to learn more and send an e-mail to your U.S. Representative.