Custodial Youth Savings Account
Give your child a head start in life with a custodial youth savings account. Start saving with any amount and begin investing in your child's future.
Are you already a member? Log into Online Banking or click here to open an account.
Smart Savings for Bright Futures
It’s never too early to start saving for your child’s future. With a custodial savings account from San Francisco FCU, you can help your child prepare for their educational expenses or other needs. Grow your child’s educational savings for qualified education expenses with a Coverdell Education Savings Account, or open a Uniform Transfer to Minors Account (UTMA) to save for other needs.
You have full control of the account until your child reaches adulthood, and you can easily track your savings progress online or with our mobile app. Open a custodial savings account today to start building a bright future for your child with every deposit you make.
Saving Made Simple for Young Achievers
Custodian Controlled
You manage the account until your child reaches adulthood.
Earn Interest
The account balance grows through the compounding of interest.
No Monthly Fees
Your child’s money stays in the account, which helps the balance grow faster.
No Minimum Balance
Start saving for your child’s future with any amount.
Build a Strong Financial Foundation for Your Child
With the cost of attending college increasing each year, saving for your child’s education with a Coverdell Education Savings Account is a smart strategy. Benefit from tax-free account growth and tax-free withdrawals for qualified expenses.
Would you like to help your child save for future needs? A Uniform Transfer to Minors Account (UTMA) is ideal for building a flexible, long-term financial foundation that grows with them. It only takes a few minutes to open an account, and there are no monthly fees.
Additional Features of Our Custodial Youth Savings Accounts
Ownership by the Minor
Although you control the account until your child reaches adulthood, the account is owned by your child.
Online & Mobile Banking
Easily track your savings progress online or with our mobile app.
Flexible Deposits
Deposits can be made by direct deposit, in person at a branch, or electronic transfer.
Tax Advantages
The funds in a Coverdell ESA grow tax-free, and withdrawals for qualified education expenses are also tax-free.
Wide Range of Qualified Expenses
Coverdell ESAs can be used for both K-12 and post-secondary expenses, including private school tuition, textbooks, technology, tutoring, and even supplies.
NCUA Insured
Custodial youth savings accounts are insured by the National Credit Union Administration (NCUA) for up to $250,000.
Open a Custodial Youth Savings Account in 3 Easy Steps!
Apply Online
Click the button below to fill out our short application, or drop by a branch.
01
We’ll Contact You
We’ll reach out to you and let you know when your account is ready, typically within one business day.
02
Start Saving
Deposit funds into your child’s new account to start saving for the future!
03
Why Choose San Francisco FCU?
San Francisco FCU is more than a bank — it’s a trusted partner that works hard to help you achieve your financial goals. Our member-focused approach puts people over profits, and we are committed to offering personalized support for all of your banking needs.
As a member, you can take advantage of a full range of banking products and conveniently manage your account online or with our mobile app. Become a member today to experience banking that truly cares about your success and the success of the local economy.
Member Reviews
San Francisco Federal Credit Union Custodial Youth Savings Account FAQ
A custodial youth savings account is a savings account that is managed by a parent or legal guardian for the benefit of a minor. The parent or guardian controls the account and all decisions about the funds until the child is 18-21.
A custodial youth savings account is a great way to save for college or something else. It introduces kids to saving and budgeting under the guidance of a parent or guardian, and the child’s savings grow over time through the compounding of interest.
A Coverdell Education Savings Account (ESA) is a special savings account designed to help parents or guardians save for a child’s educational expenses. Account contributions grow tax-free, and withdrawals are also tax-free when they are used for qualified educational expenses, which may include tuition, books, supplies, and room and board for K-12 and college.
You can easily monitor your child’s savings progress through online or mobile banking. You can view the account balance and deposits to make sure you are on track to achieve your child’s savings goals.
All San Francisco FCU savings accounts are insured for up to $250,000 by the National Credit Union Administration (NCUA).
More Ways We Can Help You Grow Your Savings
Standard Savings Account
Opening a standard savings account with no deposit makes you a member of San Francisco Federal Credit Union. The account makes saving easy to help you build a strong financial foundation for the future.
Youth Savings Account
Start your child’s financial journey with an account that simplifies saving. It’s the perfect way to teach smart money habits and encourage goal-setting while earning interest along the way.
Certificate Account
Grow your savings risk-free with a fixed interest rate and guaranteed returns. CDs are a great way to save for a down payment on a home, a new car, or another large expense. Terms of 3 to 60 months are available.