Youth Savings Accounts
Langley Federal Credit Union is committed to helping young people acquire good financial skills. We provide the tools children need to build wealth and learn the value of saving, earning and investing. Teaching the concept of saving at a young age benefits a person for a lifetime. Our goal is to help young people become knowledgeable and confident about money, so they'll make smarter financial decisions as adults.
To open a youth account, please visit a branch near you or call our Contact Center. The child must be eligible for membership at Langley Federal Credit Union.
Prime Share
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Parents may establish the membership of their child in LFCU, and as a joint account holder have complete access to the child's account. As with any joint account, the child will have full access — including the ability to deposit and withdrawal money, and even sign up for online account access through L@ngley Link. |
Custodian
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A Custodian or VUTMA (Virginia Uniform Transfer to Minors) account is a valuable savings plan opened by an adult for the benefit of a child. Children are able to make deposits. You, however, specify the age when withdrawals can be made (at age 18 or 21). Since you are the account manager, children will not have access to L@ngley Link (online banking) or CHIPs (telephone banking). |
Guardian
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A Guardian account is opened by the parent of a child, and is turned over to the child at a time chosen by the parents. This may occur when the child is any age. Until then, the child may make deposits but NOT withdrawals from the account, and may NOT have access to Langley Link. |
