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Custodial Share Savings Accounts

Get them off to a great start with a Custodial Share Savings account.

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More than an account, it’s a life lesson.

From those first deposits toward college, to weekly allowances, to an official paycheck, a Custodial Share Savings account provides our younger members a foundation for a lifetime of good financial habits.

Custodial Share Savings accounts are opened under the terms of the Uniform Transfers to Minors Act. A parent or legal guardian may open an account for a minor who is under 18 years of age.

No Monthly Fees

Avoid monthly or service fees as an active member.

Earn Dividends

Save even quicker with monthly or quarterly dividends, depending on your account.

Easy Deposits

Save more with automatic payroll deposits or account transfers.

Custodial Share Savings Accounts are the first step to lifelong saving.

Opening a Custodial Share Savings account for a minor is a smart way to help them start saving early. It can also be a way to teach foundational banking skills by:

  • Taking trips to the credit union to make deposits together

  • Looking at statements to talk about how saving adds up over time

  • Talking about what to save for and setting goals

Offering a leg up to higher learning.

At Wings, we're big believers in the value of education. So every year, the Wings Financial Foundation awards over $30,000 in scholarships to members planning to attend college, university or post-secondary technical school.

Find the Scholarship for You

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Making money skills accessible.

Wings offers free financial literacy programs for youth up to age 22. From basic money skills to budgeting, our programs make financial concepts easy to understand for all ages.

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Jr. JetSavers

Wings is more than just a place to put your money. We are committed to helping members succeed financially from day one with our Jr. JetSavers education and rewards program designed for ages birth to 12 years old.

Take Off with Jr. JetSavers

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SOAR EXPLORERS

For our members ages 13-15, we’re pleased to offer SOAR EXPLORERS, two free classes focused on money choices and an introduction to banking. These classes focus on making good financial choices and basics of using a bank account.

Navigate with SOAR EXPLORERS

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SOAR

Wings is driven to help members succeed. For members ages 16-22, we offer SOAR, free classes about checking, identity theft, credit and budgeting that are designed to help them learn how to make smart financial choices.

Fly Higher with SOAR

Common Questions About Custodial Share Savings Accounts

View All FAQs

What do I need to open a Custodial Share Savings account?

A parent or guardian opening a Custodial Share Savings account will need to provide the minor child's Social Security Number or Taxpayer Identification Number.

Who can make transactions on a Custodial Share Savings account?

Either the minor child or custodian may make deposits, but only the custodian may withdraw funds.

Do Custodial Share Savings accounts earn dividends?

Yes, Custodial Share Savings accounts earn quarterly dividends.

What happens to a Custodial Share Savings account when the child is no longer a minor?

Once the child reaches majority age, it is the responsibility of the custodian to close the account and transfer funds to the child.

Helping you reach your goals.

Get details and guidance about savings, checking, loans and more. We’ll help you take the next step forward, together.

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Coverdell Education Savings Accounts

The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose — a child’s education. Opening an account can help you save toward education expenses over time.

Open an Account

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IRAs

An Individual Retirement Account (IRA) can help you bridge the gap between Social Security, pension plans and the standard of living you want in retirement. Learn about Roth and Traditional IRAs, and the difference between the two.

Explore Options

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Certificates

Take advantage of highly competitive rates with Wings' Certificates. With terms from three months to five years, our certificates give you safe, secure investment options that consistently rank among the nation's best.

See Certificates

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