Home  For Those Under 12
|
|
Forward Financial Bank is proud to offer an account designed just for children! In the spirit of promoting the value of saving, the members of the Future Savers will be part of an extra special group of customers here at Forward Financial Bank.
Here is how to join the Future Savers:
You need just $10.00 to open your account. You will receive a special book when you open your account, which will be your responsibility as a member of the Future Savers. Also, when you open your account you will get the first of your monthly prizes.
Every month following you can continue earning more prizes. How? Deposit a minimum of $10.00 each month and you will receive the prize of the month (limit one per month per account holder, and you will need your special passbook to obtain your prize). You will also receive a special newsletter when you have a Future Savers Account.
Your Future Savers Account will earn interest, based on your balance and the current rate. The interest will be added quarterly, but is calculated on a daily basis with a balance of $100. See the rates section for rate information. Remember that it is never too early to start learning to save!
Join Future Savers and become our next generation of customers!
Uniform Transfer to Minors Accounts:Here is how it works:
UTMA accounts are Uniform Transfer to Minors Act Accounts and are set up with one custodian controlling the account. The interest is reported under the child’s social security number. The money is controlled by the custodian. The child can make deposits to the account but only the custodian can sign for withdrawals from the account. The custodian remains in control of the account until they consent in writing to change the titling on the account. That means even when the child reaches age 18 the account is still under the control of the custodian until they sign off. This account is meant to be used for large amounts of money to safeguard their savings for them.
UTMA accounts require $100.00 to open an account. UTMA accounts earn interest, based on your balance and the current rate. The interest will be added quarterly, but is calculated on a daily basis with a balance of $100. See the rates section for rate information.
|
|
|
|
