FAQs
Frequently Asked Questions
Members ages 13–15 can open a checking account with a joint owner. At age 16, students may be eligible to open their own checking account.
To open an account, students need to provide a school ID or photo identification as well as proof of address, such as a report card or statement from another financial institution.
To open an account, students need to provide a school ID or photo identification as well as proof of address, such as a report card or statement from another financial institution.
The documents needed may depend on the student’s age and account ownership type. Photo identification and proof of address are generally required. A parent or legal guardian may also need to provide identification for joint or custodial accounts.
If the last names of the minor and parent, guardian or custodian do not match, a birth certificate or legal guardianship documentation is required to verify the relationship.
If the last names of the minor and parent, guardian or custodian do not match, a birth certificate or legal guardianship documentation is required to verify the relationship.
A custodial/UTMA account is an account opened by a custodian who is a parent or legal guardian. Deposits to the account are an irrevocable gift to the minor. The minor is ultimately the owner of the funds in the account and can assume control when they reach the age of majority.
No. Checking accounts are not permitted under the custodial account ownership type.
A debit card can be issued to the custodian of the account.
Students age 16 and older may be eligible for individual or joint savings and checking accounts. Custodial/UTMA account options are not available for members age 18 and older.