Savings With a Twist (S.W.A.T.)

LAPFCU is pleased to offer our financial education program, Savings With A Twist (S.W.A.T.) for members age 13–17.1 S.W.A.T. features a suite of youth accounts, online tools and educational components designed to help teens transition into a financially literate and successful adulthood.

 The Accounts

SWATStarting with the savings, the S.W.A.T. share certificate features a low minimum deposit of just $100, a higher APY2 than a basic savings account, and a short term commitment of just six months—making it easy for teens to begin saving.

SWATThe E-Benefit Checking Account3 is a free checking account for teens. It includes the QuickDrawPlus Debit Card, which provides access to over 30,000 surcharge-free CO-OP ATMs nationwide.

SWATMy First Visa enables teens to safely build credit, with qualified adult co-signers or joint applicants who can monitor transactions and determine credit limits, no annual fees or balance transfer fees4, and EMV chip protection to deter fraud. Plus, this card comes with a 0.00% APR4 introductory rate for six months and a non-variable rate of 12.99% APR to 17.90% APR thereafter.

 The Tools

SWATThe LAPFCU App for Apple and Android devices lets teens check balances, pay people, pay bills5, make transfers, find the nearest ATM and more.6

SWATPATROL Online Banking is a full-service, secure account management system that includes live chat support, lets teens receive their statements online, and even lets them set up alerts for potential suspicious activity and reminders.

 The Tools

SWATElements of Money is an engaging web-based program created exclusively for young LAPFCU members, with dynamic content including videos, podcasts, quizzes, games, articles and social media contests. Teens have fun while learning and preparing for adulthood.

LAPFCU created the S.W.A.T. program for teens to get a head start on their financial future! So if you have a teen or teens in your household, consider your credit union’s S.W.A.T. program. You can begin by opening accounts in your nearest LAPFCU branch or calling 877-MY-LAPFCU (877-695-2732).

1Please note: For members under 18, checking and credit card accounts require joint ownership with a parent or legal guardian.
2 APY = Annual Percentage Yield. S.W.A.T. Share Certificate is for members ages 13-17. $100.00 minimum to open. A penalty may be imposed for early withdrawal.
3Members under 18 must have a parent or legal guardian as a joint owner on LAPFCU checking accounts. Members can receive E-Benefits Checking without monthly checking account maintenance fees until their 24th birthday. After, checking account maintenance fees will apply if the monthly requirements are not met. Restrictions apply; ask for complete details.
4APR = Annual Percentage Rate. APR effective May 17, 2016. 0.00% introductory APR will continue for six months. After that the APR as of May 17, 2016 for Visa Classic non-variable is 12.99% APR to 17.90% APR based on your creditworthiness. APR subject to change. Cash advance transactions are subject to a cash advance fee which shall be the greater of $2.00 or 2% of the amount of the cash advance. Cash advances do not have a grace period, finance charges will be assessed starting the day the charge is posted to your account. There is a 1% fee for foreign transactions in non-U.S. currency and a 0.8% fee for foreign transactions in U.S. dollars. Parent or legal guardian must co-sign if member is under 18. Restrictions may apply; Ask for more details.
5Member must initially set up Bill Pay in PATROL Online Banking to pay bills via mobile app.
6Standard data usage rates may apply. Consult your provider for complete details.