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It’s never too early to start that college fund. Our free youth savings account makes it easy for kids and teens to save.

Key Features

  • No Monthly Maintenance Fee
  • No Minimum Balance Requirements
  • Free Digital Banking
  • Available to savers up to 18 years old1
  • No monthly maintenance fee
  • No minimum balance requirements
  • Parents can set up monthly automatic transfers from their account into child’s account2
  • Establishes the importance of saving at an early age
  • Free digital banking with a Tri City checking account3
  • $5 minimum deposit to open

529 College Savings Plans

A 529 College Savings Plan is one of the most flexible and potentially tax-advantaged education funding tools ever created.

Coverdell Education Savings Accounts

Coverdell Education Savings Accounts (ESAs) offer a potentially tax-efficient way to save not only for college expenses, but costs associated with elementary and high school education as well.

Compare Education funding options below: 

  529 Plans Coverdell Accounts Savings Accounts
High Limits on Contributions Yes No Yes
No Federal Taxes on Current Earnings Yes Yes No
No Federal Taxes on Qualified Distributions Yes Yes No
State Tax Benefit May Exist Yes Yes No
Investment options are only Mutual Fund Portfolios Yes No No
Portfolios Chosen by Account Owners/Custodians Yes Yes Yes
Original Account Owner Maintains Ownership Yes Yes No
Account Owner Can Designate New Beneficiary Yes Yes No
Can be used for Primary/Secondary Schools No Yes Yes
Deadline exists for Full Account Distribution or Transfer of Ownership No Yes Yes
Income Cap Limit to be Eligible to Open Account No Yes No

1The minimum balance fee will be waived until the primary account holder attains the age of 18.

2Limit of six pre-authorized, automatic, telephone and computer transfers per statement cycle.  A $12.00 fee will be assessed for each transaction exceeding these limits.

3For saving account only, $4 monthly fee