Set your child up for success with a credit union membership!
Because you're a member, your children can become members of the credit union, too! This gives them lifetime access to our low rates and fee-free services, setting them up for success when they're ready to make big purchases later in life.
Contact a Member Service Representative to open your kid's first account!
Family Membership
What's the benefit of membership for my children?
Becoming a member of RiverLand Federal Credit Union grants your family exclusive, lifetime access to apply for our market-leading loan rates and earn competitive savings rates.
Checking Accounts
Can I open a checking account with a debit card for a child?
Yes! A parent or guardian of the child must be listed as a joint owner on the checking account, and a Debit Card Request for Minor Form is required. Contact us for more details.
Money Transfers
Can I transfer money easily to my child's account?
Yes! With online banking or our mobile app, you can instantly transfer money to your children's accounts using our Member-to-Member transfer feature.
Kids Savings Account Types
For minors (children under 18 years old), we offer two account types: a straightforward Minor Savings Account and a Uniform Transfers to Minors Account (UTMA). A few of the differences are outlined below. Contact us for more information and to apply.
Minor Savings Account:
- Child can be the primary member or joint owner
- Responsible adult can be anyone
- Child CAN access the funds
UTMA:
- Child must be the primary member
- Responsible adult must be family or guardian
- Child CANNOT access the funds
Both account types:
- Earn 0.05% APY* on balances over $105
- Only $5 minimum balance
- No monthly fees