Looking for suggestions where my 17 year old son can put his summer job savings

He’s about to start his senior year of high school. He’s worked over the summer and saved a few thousand dollars. He won’t have time to work during the school year.

Currently the funds are in his savings account, at my credit union. But it’s a terrible interest rate, utterly useless. Looking for somewhere he can stash the money for a year, so he’ll have access to it as he enters college. Is a 12-month CD the best bet? submitted by /u/FilmYak
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