If you think your child is ready to take the next step from their piggy bank, to their own bank account, there are a couple things you need to know. 

Nicole Cypers from America First Credit Union joined us to explain the process and what parents need to know when opening up an account for their child. 

The process isn’t much different than what adults go through when they become a member at America First. Nicole explained that their youth savings accounts feature no annual fees or minimum-deposit levels, competitive dividends, flexible terms and free online access. They also provide youth funds cards along with a debit register to keep track of their spending or saving.

She said the key thing is to be a guide for your children and be part of the process. Make it fun for them to learn about managing their money.

Nicole explained that benefits and perks for their members and Visa or Debit card holders all over Utah and Nevada include Cupcake Friday and discounts to places like SeaQuest and Lagoon. Another partner is Megaplex Theaters where America First not only offers a Matinee Monday discount each week, but also runs a premiere night promotion as well.

The next premiere night contest just opened on their Facebook page for Solo: A Star Wars Story. Premiere night event takes place on Friday, May 25.

America First is also on the verge of another exciting contest to recognize mothers out there who deserve a fun afternoon off. Starting Wednesday, May 2, people can visit their Facebook page and enter nominations.

For more information visit americafirst.com and find them on Facebook: @americafirstfb.

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Nicole Cypers from America First Credit Union answers another viewer question about finances today. 

“If I’m starting my own business, are there steps I need to take financially to get ready?”

First, congratulations on starting your own business. It’s certainly an exciting time and, although it can also be stressful, it doesn’t have to be.

First, I would recommend exploring your options for funding your business. It’s common that a new business may need financial support. Sometimes that can be accomplished by borrowing from friends and family or finding investors but a safe and secure option is to explore options for business loans with your financial institution. At America First we offer both commercial and small business loans. You want to look for something with competitive rates and flexible terms to meet your unique business needs. You might also benefit from a business line of credit or vehicle and equipment loans.

You’ll also want to set up a business bank account. This will be a key financial tool you use to manage your business finances. Keep in mind, you’ll need your business documents (formation documents, ownerships documents and/or business licenses in order) to open an account. Starting a business is hard enough which is why our business checking accounts are free and we also offer business remote deposit.

A business credit card may be beneficial as well. Not only does it help to keep track of your expenses, but it helps your business to establish its own credit identity. This may require some work on your end, in advance, to improve your own personal credit score but will serve you well in the end.

Again, opening a business can be a stressful time but it doesn’t have to be. At America First, our Business Services team helps you find the perfect solution based on your needs so you can stay focused on the success of your business.

Nicole also explains why now is a great time to refinance your home. The improving economy is a good thing but it also means interest rates are set to rise which makes now the perfect time to build, buy or refinance your home. 

If you’re ready to buy a home, they offer loans with little or no down payments and have options with no closing costs. They also  offer online consultations with no obligation. Plus, get a free review and get preapproved with no obligations. 

For more information call or visit americafirst.com

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