Youth Savings
A savings account for your child today, an Education Savings Account for tomorrow
Teaching children good financial habits benefits them for life
Help them start
Open a Custodial Savings Account and show your kids how their savings can build.
Get them involved
Children can deposit money on their own and track their progress.
Prepare for later
Open an ESA to plan for your child's future education expenses.
The earlier you begin, the better
We're all focused on our children's education and doing all we can to support it. A significant part of that education is learning how to manage money and save. At Point Breeze Credit Union, we offer a straightforward savings account so children can learn valuable lessons, as well as a special account for parents and grandparents to start saving for college.
Custodial Savings Account
Your child is the account owner1, but a parent, grandparent or other adult is the custodian of the funds. Children can make deposits to the account, but only custodians can make withdrawals, until children turn 21 years of age.
- Open with as little as $5
- Help children save for a specific goal or for things they’ll need when they're older
- Pays quarterly dividends
- Certificate accounts available
- Funds are federally insured to at least $250,000 by the National Credit Union Administration
Coverdell Education Savings Account
With the rising cost of higher education, now is the ideal time to open an ESA and start saving for those upcoming college years.
- Enjoy tax-free earnings2
- Make penalty-free withdrawals for qualified education expenses
- $2,000 annual contribution limit per child
Point Breeze Credit Union is a full-service financial institution with locations throughout Maryland.
1Child’s Social Security number is required for tax purposes.
2Consult with your tax advisor about potential tax savings.