Introducing Amplify

 

Amplify is a tool within UKFCU’s Mobile Banking that allows parents and children to connect and learn smart money habits together. Amplify offers six features to help support youth financial education:

Request Money. Push notifications notify the parent asking them to approve or deny requests.

Borrow Money. Children can request to borrow money, and if approved by parent, the child can repay with or without interest. Successful on-time payments result in trophies.

Budget. Children can make a monthly budget in the UKFCU app to help them learn how to save, spend, and invest their money.

Chores/Tasks. Hard work equals pay — an important value for children. Chores are set, and children can mark when the tasks are completed. Money can be moved into their account in real-time.

Allowance. Set a weekly or monthly allowance for your child. The money is transferred from your account to your child’s account on the due date.

Report Card Rewards. You can reward your child for getting good grades. They can upload a picture of their report card, and you'll be able to assign a particular value per grade.

Amplify's Features:

• Simple back and forth app-based communication.
• Gives children solid financial education
• Shows the importance of setting financial goals
• Helps children learn the value of money
• Use within the UKFCU Mobile Banking app

Frequently Asked Questions

What is required in order for my child(ren) and me to enroll in Amplify?

• Your child must have an active UKFCU account in good standing, and be the primary owner on their account. You can visit any UKFCU branch or call 859-264-4200 to get started.
• You must have an active UKFCU account in good standing.
• You must be listed as a joint owner on your child’s UKFCU account.
• You’re required to have Online Banking access. It’s preferred that your child has their own Online Banking credentials. If you feel your child is too young to access Online Banking, parents have the ability to mark tasks complete and submit requests on their child’s behalf.

What account types can be used can be used as a transaction account with Amplify?

UKFCU savings and checking accounts can be used with Amplify to provide rewards and money transfers.