Special Purpose Savings Accounts
Save for multiple financial goals by separating funds into multiple Savings Accounts.
Fees may reduce earnings on account. Review service charges that may apply.
- Dividends will be compounded and credited quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is March 31. If an account is closed before dividends are credited, accrued dividends will not be paid. A minimum average daily balance of $500 is required to earn dividends.
- There are no limitations on the type or number of transactions on this account. However, only the custodian is authorized to transact on this account until the minor reaches the age of majority. Checking accounts, certificates, and debit cards are not offered for this account designation.