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Key Takeaways
- Mountain America’s Youth Certificates can be opened by anyone from birth through age 27.
- Offering a rate boost over standard CDs, these pay more than the nation’s top rate in several terms.
- Unlike most CDs, these let you keep depositing over time, up to $10,000 a year—with every dollar earning the same guaranteed rate for the full term.
- You only need $5 to open one, and doing so now lets you lock in today’s high rate before it disappears.
- Anyone nationwide can join Mountain America for free, with just a $1 deposit in a member savings account.
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This Credit Union Counts You as ‘Youth’ Until Age 28
At Investopedia, we track CD rates from hundreds of banks and credit unions every business day, so we always know which offers sit at the very top. Mountain America Credit Union has long been part of that tracking, and we’ve been aware that its “Youth Certificates” have at times paid more than the top nationwide rate in certain CD terms. But because they’re age-restricted, they don’t qualify for our CD leaderboards.
What surprised us, though, was discovering that “youth” here includes anyone through age 27. In other words, if you’re under 28, you can qualify for several different CDs that pay more than the best standard offers available. And there’s no minimum age requirement, so babies, kids, and teens qualify, too.
But that’s not the only twist. Beyond the unconventional age cutoff, these youth CDs come with a rare extra perk—one that makes them especially appealing for young people looking to steadily build their savings over time.
How You Can Beat the Top National Rate With One of These Youth CDs
Mountain America offers five different youth certificate terms: 12, 24, 36, 48, and 60 months. Each has its own fixed rate, guaranteed until the CD’s maturity date. That rate promise is especially valuable right now, since the Federal Reserve is expected to lower interest rates this fall and possibly again next year. When that happens, savings account yields will decline—but a CD rate you lock in today is yours for the full term.
What makes the youth versions stand out is that they boost Mountain America’s standard rate by about a tenth of a percentage point. For example, the credit union currently pays 4.15% on a standard 1-year CD, while the youth version pays 4.25%.
In the shorter terms—1 year and 2 years—the youth CDs are competitive but not the nation’s top-paying options. But as you’ll see in the comparisons below, Mountain America’s 3-year, 4-year, and 5-year youth CDs pay more than any other nationwide CD currently available.
Mountain America Is Easy to Join
You don’t have to live near Mountain America to open an account. Anyone nationwide can join by agreeing to a free one-year membership in the nonprofit American Consumer Council and depositing $1 in a member savings account.
A Rare Twist: You Can Keep Adding Money to This CD
In addition to offering some of the best rates available, Mountain America’s youth certificates come with another useful perk: You can keep adding money after you open the account. Unlike most certificates of deposit that require a single lump-sum deposit, these let you contribute along the way—with every dollar earning the same locked-in rate until maturity.
You only need $5 to open one of these CDs, and doing so now lets you lock in today’s high rate before it disappears. Because you can keep adding money later, the smart move is simply to get the account started—then build your balance over time while earning the guaranteed rate for the full term.
There are some limits on how much you can add, but they’re generous: up to $10,000 a year, with a maximum balance of $100,000. That flexibility makes these accounts especially appealing for babies, kids, teens, and young adults alike—anyone under 28 who wants to steadily build savings while ensuring it all grows at a strong, fixed return.
Why It’s Smart to Act Fast
The Federal Reserve cut interest rates last week, and many banks and credit unions are lowering their yields in response. While it’s unknown if Mountain America will reduce its youth CD rates, the credit union often adjusts rates at the start of each month—meaning these higher-paying CDs could drop in just a week. So it’s smart to open a youth CD now, even with just $5, to lock in today’s rate before it’s gone.
Just remember: As with most CDs, you’ll face an early withdrawal penalty if you take your money out before the CD matures. That means it’s essential to think carefully about the term you choose at the start, as well as any additional deposits you make along the way.
Daily Rankings of the Best CDs and Savings Accounts
We update these rankings every business day to give you the best deposit rates available:
Important
Note that the “top rates” quoted here are the highest nationally available rates Investopedia has identified in its daily rate research on hundreds of banks and credit unions. This is much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often 5, 10, or even 15 times higher.
How We Find the Best Savings and CD Rates
Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the account’s minimum initial deposit must not exceed $25,000. It also cannot specify a maximum deposit amount that’s below $5,000.
Banks must be available in at least 40 states to qualify as nationally available. And while some credit unions require you to donate to a specific charity or association to become a member if you don’t meet other eligibility criteria (e.g., you don’t live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.
