Up your earnings with a High-Yield Savings account
Custodial Accounts
Get them off to a great start with a Custodial 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 Savings account provides our younger members a foundation for a lifetime of good financial habits. A parent, grandparent or other custodian may open an account for a minor under 18.
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 Accounts are the first step to lifelong saving.
Opening a Custodial 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.
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.
Jr. JetSavers
Wings Financial 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.
SOAR
Wings Financial is driven to help members succeed. For members ages 13-22, 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.
Common Questions About Custodial Accounts
Who can make transactions on a Custodial account?
Either the minor child or custodian may make deposits, but only the custodian may withdraw funds until the custodial arrangement terminates.
Do Custodial accounts earn dividends?
Yes, Custodial accounts earn quarterly dividends, just like Share Savings accounts.
What happens to a Custodial 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.
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.
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.
Certificates
Take advantage of highly competitive rates with Wings Financial’s 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.
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