Kids Savings

Kids’ Rags to Riches Club Account

The Rags to Riches Club is an educational program with a special savings account for children 12 years old and under. Activities encourage the Save, Share & Spend method of managing money. To encourage a savings habit, kids can pick a reward every time they make a deposit of $5 or more at a branch.

Club Benefits 

  • Free Membership Kit includes three money pouches, “how it works” instructions, and a fun book
  • Rags to Riches Savings Account has no minimum balance
  • To open, you just need to put $25 in a membership savings and at least $1.00 in your new Rags to Riches savings
  • Rewards for deposits

How to Open an Account:

We offer a couple of ways to open a Rags Savings Account:

1. In Person: Stop by one of our branches (NOTE: Please have your child's social security number)

2. By Mail:

Parents, to enroll your child in the Rags to Riches Club, open an account in your child’s name by completing the following:

  • Review the Membership Avenues & Membership and Account Agreement (PDF). Note: Your child’s eligibility for credit union membership will most likely be “Family of current member.”
  • Complete the Membership Application (PDF). As a parent, you will be guarantor on your child’s account. Please fill in the “Joint Owner” information.
  • Open a regular membership savings account ($25 minimum balance). Plus a Rags to Riches Savings Account by writing this account name under “Account(s) Requests.”
  • Optionally, you may also open a Rags to Riches Certificate by writing this account name under “Account(s) Requests” and indicating a  term of either 12 or 24 months.
  • The account type will be “Minor Account – Joint with Right of Survivorship.”

Please include when mailing:

  • Completed application
  • Copy of your photo ID (unexpired driver’s license, military ID, or passport)
  • Savings deposit of $25 or more
  • Rags to Riches savings opening deposit of $1 or more.
  • Optional Rags to Riches Certificate deposit of $100 or more. (Add-on deposits can be made at a later date with a minimum of $10 per add-on deposit.)

        Mail to:
        Attention: Operations 
        Elevations Credit Union
        PO Box 9004
        Boulder, CO 80301

Once the account is active, grandparents, other family members and family friends may deposit money in the account in person at one of Elevations branches or our CU Service Center network of nationwide branches, or by mail.

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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency