Good savings habits start at home. While your children are young, show them how interest dividends work when they save more into their savings account.
Two Options to Consider:
- UTMA – Uniform Transfer to Minor Act
This account requires a custodian who will act on behalf of the minor. The minor is unable to conduct any transactions until the custodian formally turns the account over to the minor.
- Minor's Account (Joint Account with Joint Owner) By opening the minor's account with a joint owner (usually a parent/guardian), it allows both the minor and the joint owner to conduct transactions.
- Free Online Banking
- Free Mobile Banking
- Free eStatements
Monthly Fee: No Monthly Fee
Minimum Requirements: Nikkei Credit Union membership and a $5 opening balance
Reward Yourself: Pays dividends for balances over $5,000