Estimated read time: 4-5 minutes
As a kid, managing money meant opening a savings account, making deposits and watching your balance grow. Simple enough.
Today, the game has changed. Digital wallets, subscription services, and payment apps mean money moves faster and in more directions than ever before. Your teen doesn't just need to know how to save money but also, how to manage it.
Yes, the Utah Board of Education requires high school students earn a financial literacy credit before graduation. But like most skills, money management really sticks when teens can put those lessons into practice outside the classroom.
Cyprus Credit Union is making that possible with a program that turns banking into hands-on learning.
Learn & Earn program is more than a teen-friendly bank account—it's a real-world training ground designed to give your teen the financial tools, confidence and habits they'll need for the rest of their lives.
Here's how Learn & Earn is making financial education click for the next generation:
More than just banking: What's inside a Learn & Earn account
The Learn & Earn program is a complete financial package, specially designed for teens ages 13 to 18. It combines two accounts—Learn & Earn Checking and Learn & Earn Savings—plus modern banking tools, practical features and educational opportunities that make managing money feel empowering, not intimidating.
When you open a Learn & Earn account, your teen gets:
- A checking account for everyday spending and transactions.
- A high-yield savings account with an eye-opening interest rate.
- A free debit card for secure, convenient purchases.
- Easy digital access via Cyprus Home Banking and the Cyprus CU Mobile Banking app.
Opening an account is simple—you can do it online or at any Cyprus Credit Union branch.
Learn & Earn Checking: Real-world spending skills
There's no better way to understand money than to manage it. The Learn & Earn Checking account gives teens hands-on experience with spending, budgeting and tracking their funds—all in a safe, parent-supervised environment.
Here's why it works so well:
- Digital wallet friendly: It works with Apple Pay, Google Pay, Venmo, Cash App and other popular tools.
- Real-time alerts: Teens (and parents) can get instant notifications for purchases, withdrawals and balance changes.
- Nationwide access: You can use the free debit card anywhere Visa is accepted and at over 30,000 surcharge-free ATMs nationwide.
- Low stress: There are no annual fees, no monthly service charges and no minimum balance requirement.
With these features, your teen can experience the freedom of managing their own spending while you enjoy the peace of mind that comes with built-in security.
Learn & Earn Savings: Building a foundation for the future
Saving is one of the most valuable habits your teen can develop, but it's also one of the toughest to master. According to Bankrate's 2025 Annual Emergency Savings Report, only 46% of U.S. adults have enough in savings to cover three months of expenses—the amount experts recommend for emergencies.
The Learn & Earn Savings account is built to help teens avoid that problem before it starts.
The goal is to help every Learn & Earn member save at least $1,000 before they graduate high school.
That milestone not only creates a safety net, but also shows teens the power of compound interest in action.
The perks are hard to ignore:
- 5.00% APY on balances up to $1,000—an exceptionally high rate that makes money grow faster.
- Dividends on higher balances at the standard savings rate, so growth continues beyond the goal.
- A clear, achievable target that builds confidence and reinforces the value of saving.
Your teen won't just read about compound interest in a textbook; they'll see it happening in their own account.
Why Learn & Earn is a game-changer
Plenty of banks offer teen accounts, but few mix real-life tools with useful lessons and rewards the way Learn & Earn does. Cyprus Credit Union isn't just helping teens use their money today—they're helping them build good habits they can rely on for years.
By the time your teen graduates high school, they could have:
- A clear understanding of how checking and savings accounts work.
- The ability to budget, track spending and steer clear of extra fees.
- A savings cushion for emergencies, college or their first apartment.
- The confidence to make smart money choices from day one.
For parents, that's a pretty reassuring thought.
Give your teen a head start today
You wouldn't send your teen onto the road without teaching them how to drive, so why let them step into adulthood without knowing how to manage money?
The Learn & Earn program makes it easy, safe and rewarding to teach your teen the financial skills they need for life. They'll gain independence. You'll gain peace of mind. And together, you'll be building a future where they're ready for whatever comes next.
The sooner your teen starts learning, the sooner they'll start earning! Open a Learn & Earn account today at cypruscu.com or visit your nearest Cyprus Credit Union branch.
