Set your child up for success with credit union membership!
That's right. Your children can become members of the credit union. We have a Minor Savings Account or a UTMA (Uniform Transfers to Minors Account). A few of the differences are outlined below; however, our representatives can provide more information to help you choose the best option.
Minor Savings Account:
- Child can be the primary member or joint owner
- Responsible adult can be anyone
- Child CAN access the funds
UTMA:
- Child must be the primary member
- Responsible adult must be family or guardian
- Child CANNOT access the funds
Both account types:
- Earn 0.05% APY* on balances over $105
- Only $5 minimum balance
- No monthly fees
Ready to open a Kid's Savings?
Contact Us for More Details
Family Membership
What's the benefit of membership for my children?
Becoming a member of RiverLand Federal Credit Union grants your family exclusive, lifetime access to apply for our market-leading loan rates and earn competitive savings rates.
Checking Accounts
Can I open a checking account with a debit card for a child?
Yes! A parent or guardian of the child must be listed as a joint owner on the checking account, and a Debit Card Request for Minor Form is required. Contact us for more details.
Money Transfers
Can I transfer money easily to my child's account?
Yes! With online banking or our mobile app, you can instantly transfer money to your children's accounts using our Member-to-Member transfer feature.