School Banking Program

First New York FCU, School Banking Program

With the First New York School Banking Program, students can open their own savings accounts, make deposits at school every Thursday during lunch at Pashley, participate in fun contests and learn to save for the future.

Some highlights of the program are:

  • An account can be opened for only $2.50 and the bank will match the first deposit up to $5.00.
  • The minimum deposit afterwards is 25 cents, with a maximum deposit of $10.
  • Accounts have no fees or minimum balance requirements.
  • Each child will receive a prize for every fifth deposit.
  • When a child reaches their 15th deposit, they are entitled to receive one free Regal or Bowtie movie ticket.
  • Students may earn up to $20 per year by bringing their report card into the credit union branch, and presenting the teller with a “good” report card within 30 days of receiving it.

Opening a student banking account

If you would like to open a School Banking account for your student, please fill out the application you received along with a photocopy of your driver’s license, mail it to First New York FCU with the provided envelope. Do not forget to sign the back of the application and provide social security numbers. Your child must also sign as best they can in order for their account to be started. First New York FCU will mail you your child’s account information. They may begin banking right away–just make sure their full name is clearly written on their deposit envelope.

Your child does not need to open an account if they did so last year.

Children in K-6 can participate during lunch on Thursdays. They can also go to the local branch on Glenridge Road to open an account or make additional deposits.

If you have any questions please contact the Pashley Banking Coordinator.