How Do I Open an Account?

Gather documentation listed below and visit a convenient branch location to open a youth savings account today! The minimum deposit for opening either a PUTMA or Young Traditions account is $100.

For the custodian/joint applicant:

• Name
• Date of Birth
• Taxpayer Identification Number
• Street Address
• Mailing Address (if different from street address)
• Phone Number
• Photo ID: driver’s license, passport, etc.

Required documentation for the minor child is the same for PUTMA and Young Traditions accounts:

• Name
• Date of Birth
• Taxpayer Identification Number
• Street Address
• Mailing Address (if different from street address)
• Phone Number (this may be the same as the custodian or joint applicant)
• Two forms of ID, such as a Social Security card and birth certificate

The Benefits of a Youth Savings Account

As the child gets older, you can work with them to plan for, set, and meet their savings goals. A savings account can help kids focus on their needs and desires. It can also help them learn to prioritize saving for their expenses or schooling while creating as little debt as possible.

Talking about finances can be difficult at any age. However, beginning money management education at an early age can set on the right path toward a healthy financial future.

• PUTMA
• Pennsylvania Uniform Transfers to Minors Act
• Young Tradition Savings Account
• Youth Savings Account