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Custodial Accounts

Help your child, grandchild, or other young person get off to a good start in life with the gift of a custodial account.

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Securing Your Child’s Future

Custodial accounts are a great way to get kids interested in finance while providing for their future. You, as custodian, manage the account and may use the money for any purpose that benefits the child, such as education expenses, driving lessons, braces, and more. When the child reaches adulthood, control of the account transfers to them. BFSFCU offers a variety of custodial accounts that you can set up for your child.

Saving Accounts 1

  • No account maintenance fees
  • No minimum balance requirements to open or earn dividends.
  • Dividends are paid and compounded quarterly.

Young Saver Share Certificates 2

  • Guaranteed return on your investment
  • $100 minimum deposit to open
  • Monthly contribution of at least $20 required

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1 Joint account with adult 18 years or older required. Additional terms and conditions apply. See the Truth-In-Savings Disclosure for details.

2 Deposits must be made at least once per month. Total deposits each month must equal or exceed $20. Failure to meet the monthly minimum deposit will result in account closure and transfer of the balance less penalty to your Savings account. Withdrawal or cancellation prior to maturity will result in the loss of 180 days of dividends on the amount withdrawn.

Digital Banking services are not available for children under the age of 13.