SAFE Credit Union offers debit cards for kids as young as 6

SACRAMENTO, Calif. — In Sacramento, kids who want to purchase candy or toys from the store may no longer have to rely on their piggy bank, as the Safe Credit Union is offering debit cards to children six and older.

The goal of the expansion is to help children learn the importance of finances at a young age, setting them up for long-term financial success.

“Kids learn best when they feel like they can take some ownership and have some autonomy in decision making, and this is a great way to do that relative to personal finance at a really young age,” said Allison Yee-Garcia, the credit union’s senior vice president of marketing and communications.

Children enrolled will be given their own physical contactless cards and will be able to access online banking through SAFE’s mobile app.

Yee-Garcia said parents will have complete control over the accounts, with the ability to turn the card on and off at their discretion. She advised parents to open the accounts to constantly monitor the card’s activity, which she recommends for every cardholder, regardless of age.

“You can do all of those things alongside your child,” Yee-Garcia said. “Teaching them, hey, this is how you look at a bank account, this is what it means, this is how you set up alerts. This is how you protect yourself by turning your debit card off when you’re not using it to help prevent fraud.”

The cards were rolled out a few months ago, and Yee-Garcia said the initial feedback from families has been positive. They are part of the credit union’s collection of accounts and products geared toward families.

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