What do I need to open a Uniform Trust Minors Account?

Anyone can open a UTMA account using the name and TIN of the minor. A UTMA account is a restricted account, which means that the custodian is the only individual that has access to this account.

Regardless of the state in which the member and minor reside, when a minor applies for a Savings account with us, it is issued under the provisions of the “State of Maryland’s Uniform Gifts or Uniform Transfers to Minors Act.”

Either the custodian or the minor (beneficiary) must be eligible for membership in the credit union.

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