Custodial Accounts (For Youth)
“A penny saved is a penny earned.” – Benjamin Franklin
Custodial Accounts are a great gift to give to your children or grandchildren. This account can be used for a variety of reasons: education, cars, or even help saving for a down payment. No withdrawals may be made from the account unless the funds are used for the benefit of the minor, who cannot have access to the account until he or she reaches the age of 18 or 21.
Once the minor turns 18 or 21, the account is closed and a membership savings account can be opened in his or her name. Dividends are earned once there is a balance of $50 in the account. You may open a certificate to earn a higher dividend rate. See certificates for details.
National Credit Union Youth Week
Celebrate National Credit Union Youth Week and the “science of saving” at Front Royal! From April 23-28, everyone who opens a new Youth Account OR makes a deposit into one will get entered to win a $50 deposit into their account.* Contact us to learn more.
*Youth Account is defined as a share or custodian account ages 18 and under. One $50 cash prize will be given. One drawing entry per member when a deposit is made at the credit union. Member must notify credit union in the event a deposit is made via direct deposit or account transfer in order for transaction to be verified and an entry granted.