Our Youth Savings Account is ideal for children and students under the age of 18. This helps teach young account holders sound saving habits.
The account must be established jointly with a related adult. $5.00 is required to open this account. Interest accrues on the daily collected balance and is paid quarterly. No interest accrues on daily collected balances under $100.00.
After one year, accounts that fail to maintain an average collected balance of greater than $100.00 are charged a fee of $6.00 per quarter.
Note: By federal regulations, savings accounts are limited to six withdrawals per quarter. Withdrawals processed in excess of the legal limit incur a maitenance charge of $1.00 per item.