Great question! When your child turns 18, their youth account will be automatically transferred to their 01 savings account to ensure they retain their credit union membership. But there’s more! At age 17, we’ll notify you about the exciting new features and benefits available to support the next stage of their financial journey. This ensures your child is prepared for … Continue reading
Youth accounts can only be established by parents or legal guardians. However, grandparents have a fantastic alternative to help their grandchildren save for the future: the Virginia Uniform Transfer to Minors Act (VUTMA) account. With a VUTMA account: Who can open it? Parents, legal guardians, or grandparents. Flexible Gifting Age: The custodian decides when the funds are gifted—at age 18, … Continue reading
No, your child does not need an ID to open their account. While school IDs or state IDs are a helpful addition, we only require a Social Security card on file to establish an account for minors under the age of 13. If you have any questions or need assistance, feel free to reach out to us!
Yes, our Youth Accounts are available for children and teens aged 0 to 17. It’s never too early to start saving and become a member of the credit union! If you’d like to open an account or learn more, contact us today—we’re here to help your child get started on their financial journey.
Yes, all minor accounts must have a joint owner, typically a parent or legal guardian, until the child turns 18. The parent or legal guardian must be listed as a joint owner on the Kids Savings account. Here’s what you’ll need to bring to open the account: Your ID (parent or guardian) Your child’s Social Security card Optional: School student … Continue reading
