Kids’ savings club account is an innovative program brought by the Credit Union to educate kids and teens on managing personal financing. Our goal is to help the young understand financial issues that affect them. We also hope to assist them in building a solid foundation for success in the future, where our Credit Union has a special place.

• An exclusive club for members of United Poles FCU ages 17 and younger. If your child already has a savings account, then transfer it to a Kids’ Club Account and watch the saving begin.
• Account must be a joint account with a parent or guardian.
• Home Banking and Audio Teller are available to check the balances.
• Free gift when you open your account.
• Earn interest on balances of $10 or more. A $2 minimum balance fee will be imposed for every month the account falls below $10. Fees can reduce earnings on the account.
• The dividend rate is at least 0.25% higher than the dividend paid on regular share-savings accounts
• All kids will receive free access to Googleplex- site that contains games, stories and activities just for kids!
• VISA Flex Debit cards are not available with this account.
• Loans are not available with this account.
• Account cannot be pledged as collateral of any loan.

Maximum of six withdrawals per month. No more than three withdrawals may be by third party transfer such as Automatic Withdrawal (ACH). There is a $1 activity charge for each withdrawal over six per month.

Education Savings Account

An IRA may be used for more than just retirement. With a Coverdell Education Savings Account (ESA), you can set aside funds to be used for your child's education expenses.

With this non-deductible account, you can withdraw funds for your child's tuition or other approved educational expenses when you need them tax-free and penalty free!

• Save for the future
• High rate of return
• Flexible terms
• Withdrawals for education are penalty-free and tax-free

Note: Examine the limitations and conditions very carefully before you set up an Education Savings Account. You should contact your tax consultant to be sure you understand the ramifications of an IRA of this type and how it can affect you.

For more in-depth information go to the IRS Publication 970