Introducing SMARTstart

Close your eyes for a minute and picture a world in which parents will no longer run to an ATM at 11pm for field trip money - or have to give up their own debit card for that stop at McDonald’s after the away game. Pretty cool, yeah? We think so, too, and are super excited to announce our new SMARTstart Spending Account! 

 

This account puts a spending (debit) card into the hands of tweens & teens so they can begin banking with a parent or guardian. In addition to the convenience this account offers, it's also the perfect opportunity to teach kids how to manage their money and make good decisions.  

Notice that we call SMARTstart a spending account – because what does the word ‘checking’ mean to kids nowadays? And instead of debit card, we call it a spending card – because that is exactly what it is used for. Spending money. 

We are not the first to have this brilliant idea - but SMARTstart is absolutely FREE, as close to fee-free as it can get, and comes with all the service & support you’d expect from OFCU. 

Giving young children a spending card—especially through a controlled, parent-managed account—can offer several educational and practical benefits. 

Financial Education

• Parents can help children understand banking basics like spending, saving and budgeting.
• Teaches real-world skills in managing digital money, not just actual cash.
• SMARTstart has financial education built in with online learning through our partner Banzai.

• Set spending limits and category restrictions (e.g., no online games or fast food)
• Receive real-time notifications of purchases
• Turn their child’s card off at any time – very handy if it is misplaced or stolen

• Encourages kids to think before they spend.
• Helps them make decisions about needs vs. wants.
• Gives them a savings account to easily set goals – like saving for a bike, computer, car.

• Cards are easily turned off if lost—unlike cash.
• Parents do not need to give their own debit card to their child to use.
• If suspicious or unauthorized activity is spotted when reviewing transactions, our service team is here and ready to assist. 

• Parents can automate or instantly transfer money to pay allowances or fund activities.
• No more last-minute ATM runs or tracking where physical money went.

• Prepares kids for a world where Apple Pay, Venmo, and online shopping are standard.
• Familiarizes them with apps, balances, PINs, and transactions.

• Gives parents opportunities to regularly talk about money habits.
• Helps normalize discussions around budgeting, value, and planning.

There is no minimum age for SMARTstart - you will know if and when your child is ready to take on the responsibility of having a spending card. If you think they are not quite there yet, talk to us. Our member service team is happy to discuss options to fit your needs.

If you're considering a spending card for a child, pairing it with regular conversations and simple financial lessons is key. It's not just a tool for spending—used well, it's a tool for learning, too.

 

Learn more about SMARTstart here.