Student Checking

The Carbon Zero Teen Account is a youth checking or savings account that is available for teens aged 13-17.

A parent or guardian with government-issued ID is required to complete a membership application with the teen. During the membership process, we recommend adding the teen as the primary on the account.

Yes, but a parent/guardian is required to complete the membership application.

Typically, the teen is the primary account holder and the parent is the joint account owner.

At age 18, the account will be transitioned to our standard checking or savings account with the option for the parent/guardian to remain a joint account holder.

The Carbon Zero Teen Account does not offer access to bill pay or accounts transfers. However, the account does have access to free ATM withdrawals from any MoneyPass ATM along with the ability to share online banking and eStatement access with the parent/guardian.

Minor custodial accounts (UTMA/UGMA accounts) and teen accounts are both financial tools designed for minors, but they differ in various aspects.

• In a minor custodial account, the account is opened and managed by a custodian on behalf of the minor. The custodian has control over the account until the minor reaches the age of majority (usually 18 or 21 years old). Whereas a teen bank account is a joint account opened by the teen and the parent or guardian with the teen as the primary account holder.
• With a minor custodial account, the custodian has full control and authority over the account. They make decisions and transactions on behalf of the minor, and the minor typically has limited access to the account until they reach the age of majority. With a teen account, the teen can manage their money, make deposits and withdrawals, and have a debit card.
• With a minor custodial account, the custodian is legally responsible for managing the account and acting in the best interest of the minor. They have a fiduciary duty to handle the funds appropriately. In a teen bank account, the minor assumes more responsibility for their financial decisions, although some level of parental or guardian oversight may still be present.
• Minor custodial accounts are ideal for long-term savings while teen accounts help with learning financial responsibility.

To see more details on the difference between these account types, check out our infographic.

If your parent is a member of Clean Energy Credit Union and chooses to link your teen account to theirs, they will have access to view your accounts and easily make transfers from their own savings or checking accounts directly to or from yours. They will not have access to any card controls or to block any purchases. Any card controls for the teen account will need to be set up through their own online banking account.

If your parent is not a member with Clean Energy Credit Union, they may access your account through your own online banking username and password, or, you may set up a shared access through your online banking portal (under the self-service tab select “share access with others”).

If your parent would like to apply for a Clean Energy Credit Union membership, please visit our join page to start an application. If your parent applies for an account, we will reach out to them to ask if they would like to link their new account to yours.

Please note that only the teen can have a debit card for the teen checking account.

If your parent is not a member with Clean Energy Credit Union, they may access your account through your own online banking username and password, or, you may set up a shared access through your online banking portal (under the self-service tab select “share access with others”).

There are many ways to make deposits and withdraws from your teen account including mobile check deposit, shared branches, ATM network, Coinstar kiosks, mailing a check or transfers from your parent’s linked account.

See details here.