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WECU announces new checking and savings accounts for members under 19 years

Whatcom Educational Credit Union (WECU) Ferndale branch exterior (March 19, 2020). Photo: My Ferndale News

Dubbed “First Step Accounts,” Whatcom Educational Credit Union announced this week they are now offering new youth checking and savings accounts.

According to a press release, “The First Step Savings Account is for members who are up to 19-years-old and offers 2.5% APY [annual percentage yield] on the first $500. The First Step Checking Account is for members 13- to 19-years-old and offers 2.5% APY on the first $250.”

These interest rates are substantially higher than the current savings certificate rates of up to 0.50% posted on the WECU website.

To open a First Step Account, parents and guardians are asked to either submit an application online at www.wecu.com/first-step or schedule an appointment at a WECU branch location.

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