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.
A Custodian or UTMA (Uniform Transfer to Minors) account is a valuable savings plan opened by an adult for the benefit of a child. Children are also able to make deposits. You, however, are the account manager and specify the age at which withdrawals can be made. Since you are the account manager, the child on the account will not have access to Online Banking or Telephone Banking.
Parents may establish the membership of their child in Langley, 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 withdraw money, and even sign up for Langley Online Banking. Youth savings accounts also automatically receive the Constellation Club benefits.