'Save smart' with a Kids' Cash Account from First Fed!
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Kids' Cash

Provide a unique savings opportunity for a child with a Kids' Cash Account from First Fed!



Provide a unique savings opportunity for a child with a Kids' Cash Account from First Fed!


Summary

Here are a few Kids' Cash Account Highlights:
  • First Federal provides the first $5.00* of the $10 minimum balance required to open the account!
  • At account opening, receive a New Account Kit filled with coloring sheets, crayons,
    puzzles — even a bank.
  • Child receives a birthday card as well as quarterly newsletters filled with fun
    facts, games, puzzles, and coloring activities.
  • An account may be opened for any child from birth through age 18.
  • Child must have own social security number which is required at account opening.
  • Must be a joint account with the child listed as primary account holder along with
    an adult as the joint owner.
  • As a joint owner, child may make his/her own deposits and withdrawals.
  • Interest accrues at First Federal's regular savings account rate.
  • Existing accounts with a minor as the primary account holder may be converted to
    the Kids' Ca$h account. At the time of conversion, the child will receive a $5.00
    deposit and a New Account Kit.
  • Account cannot be opened as a UTMA (Uniform Transfers to Minors Act) or as a
    Custodial Account.
  • At age 18, the account will automatically convert to a regular personal account.
* These funds become available on the child's 18th birthday. If the account is closed prior to the child's 18th birthday, the $5.00 will revert back to First Federal.
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