Do you offer accounts for minors?
Yes! Members can open a Custodial Savings Account on behalf of a minor (under 21 years of age), and keep control of all transactions. While the minor is the owner of the account and dividends are reported under the minor’s Social Security/Tax ID number, the custodian maintains control of the account until the minor reaches the age of majority (21 unless otherwise requested in accordance with Credit Union procedures). The minor will have no access to the account(s) and they are unable to conduct transactions. The minor must be an immediate family member or household member of the designated custodian.
For children ages 16-17, we also offer minor accounts. You can provide them with the freedom of their own account while having a parent or guardian as a joint owner to ensure they are properly learning to use their account. Both parties will have equal ownership rights and can conduct transactions. Click here to download and print our Minor Account Application.
Visit our Custodial Savings page for more information.
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