Helping a child build a strong financial foundation starts early. A Custodian Account makes it easy to save for their future while keeping the account under your guidance until they’re ready to take the next step. At ABEFCU, our most popular custodian accounts are Share Accounts and Investment Club Certificates.
How Custodian Accounts Work
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The account is opened in the minor’s name, but as the custodian, you manage and oversee all activity until they reach the age of majority.
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Once the child becomes a legal adult, they gain full control of the funds.
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Minors ages 17+ can obtain a debit card.
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Minors ages 14-16 years can obtain an ATM card.
What You’ll Need to Open an Account
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The minor’s Social Security number (since the account legally belongs to them).
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Custodian details for account setup and management.
A Custodian Account is a thoughtful way to save, teach financial responsibility, and give your child a strong start for the future.
Please reach out to your local branch for more information on how to apply for a custodian account.
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