Available to Utah members with the ability to open online, Cyprus Credit Union is offering up to a $200 bonus for teens ages 13–18 who open a new Learn & Earn account. The bonus is paid across three milestones: $50 at account opening, $100 for completing three financial education modules in Home Banking, and $50 for setting up a qualifying direct deposit before their 19th birthday.
This is one of the more creative teen bonus structures we've seen — the $100 financial literacy component is genuinely unique, rewarding teens for completing built-in curriculum on savings, budgeting, and smart spending rather than just making transactions. The account must include both a Learn & Earn Checking and Savings account, be enrolled in Home Banking and e-statements, and have an active debit card to be eligible for any payout. The bonus cannot be combined with other new account offers, and is limited to one per member.
How To Earn The Bonus
The Cyprus Credit Union Learn & Earn Teen Account promotion requires you to optionally, set up eligible direct deposits in order to earn the up to $200 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the credit union will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Not available to members who have had any checking account with Cyprus within the last 12 months.
- Direct deposit must be an electronic deposit of paycheck or benefits from an employer or government entity to the Learn & Earn Checking account
Open a Learn & Earn Teen Account before the bonus expires
How does this student checking offer from Cyprus Credit Union compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
Chase
Chase Business Complete Checking®
- Bonus
- up to $500
- Account Type
- Business Checking
- Expires In
- 55 days
- Requires
- Min Balance
- Card Spend (optional)
Why Cyprus Credit Union?
Learn & Earn Teen Account
The Learn & Earn account is a combined checking and savings package built specifically for teens ages 13–18. It pairs a no-fee debit checking account with a high-yield savings account and an integrated financial education platform, giving teens both the tools and incentives to build real money habits during high school.
The Learn & Earn Checking includes a Visa debit card usable at over 30,000 surcharge-free Co-Op ATMs, compatibility with Apple Pay and Google Pay, and real-time text and email alerts. The paired Learn & Earn Savings account earns 5.00% APY on balances up to $1,000 — an exceptional rate designed to help teens hit their first savings milestone before graduation.
Fees
Learn & Earn Teen Account does not charge a monthly maintenance fee.
Apply now for a Learn & Earn Teen Account to earn the up to $200 bonus offer
How to Join Cyprus Credit Union
Credit unions differ from banks in that they restrict membership based on a shared common bond, or the credit union’s “field of membership”.
That means in order to qualify for this bonus (or any offer from a credit union), you'll first need to meet one of Cyprus Credit Union's membership requirements:
- Live, work, worship, or attend school in Salt Lake County, UT
- Live in any other Utah county and willing to make a one-time $5 donation to the Community Recreation Association (CRA)
- Be employed by or a student in the Nebo, Juab, or Tintic School Districts
- Be employed by a company on Cyprus's select employer list
- Have an immediate family member of an existing Cyprus member (parent, child, spouse, sibling, grandparent, grandchild, stepparent, stepchild, stepsibling, or adoptive relationship)
Keep in mind that nearly all credit unions have a "once a member, always a member" policy, so once you're in, the above restrictions no longer apply.
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