Children’s Savings Account
- No minimum opening deposit
- No minimum balance required until age 18
- 6 free withdrawals per statement cycle
- Quarterly statement
- Fee Free ATM card
- Interest paid quarterly
- An excess transfer fee of $3 will be charged per withdrawal in excess of 6 per quarter
- After age of 18, the account will convert to a regular savings account
- Closing the account within 90 days of opening will result in a $10 fee
** Disclosure of fees and charges are available upon request and at account opening.
Note: Regarding excessive transactions federal regulations permit no more than 6 preauthorized, automatic, Internet or telephone transfers to your other accounts or third parties (including checks, drafts, debit cards or similar orders) per statement cycle.
If you exceed the above limitations your account may be transferred to a transaction account where funds no longer earn interest.