A Uniform Transfer to Minor account, or "UTMA," maintains a parent or legal guardian as legal custodian of funds being held for a minor to be dispersed at a later time. The custodian determines when the transfer of assets will take place, usually when the minor reaches a certain age or under certain circumstances.

Open a New Membership Account!

Member Benefits

• Children cannot withdraw funds without custodian.
• Earns more money with compound dividends interest accrued daily, compounded and paid monthly.
• Only $10 required to open.
• Instills the value of savings; easy to start saving today!

Requirements

• A new CTCU membership account.
• $10.00 minimum balance must be maintained.

Note: These accounts are registered under the minor’s social security number and birth date. Minor cannot withdraw funds, until the age of 21, when the custodian closes the account and minor opens an account in their own name.

Open a New Membership Account!