A Uniform Transfer to Minors savings account is a trust-like account established in the name of a minor child, by a person of legal age, for the sole benefit of the minor.
Contact us for More Information on this special type of account, which can prove a possible tax break (for the member) in addition to allowing the money in the account to earn interest over the years.
Get Started Today!
Account Features:
All deposits made to this account belong irrevocably to the minor, so you can contribute money for the child's future without worry of anyone else acquiring it.
Child receives money upon reaching legal age, and the money has earned interest over the years.
Plus, you may possibly receive income from the account when taxed
at the child's rate, providing a possible tax break (check with your tax advisor concerning this).
If you have any questions please feel free to call HFCU at 1-866-OUR-HFCU (1-866-687-4328) or (281) 243-0500. You can also request information online or stop by and visit with one of our friendly service representatives.
Printer
Friendly
