ABA Routing and Transit Number # 236084298

Custodial/PAUTMA Accounts

Ensure the welfare of your children

Custodial accounts are a convenient way to save for the benefit of a minor child while limiting the child's access to the account. Normally, a custodial account is established to save for a specific goal. The Uniform Transfer to Minors Act allows parents or other interested persons to make an "irrevocable gift" to a minor without needing a court-appointed guardian. When the gift is given, which means an UTMA account was opened, the money becomes property of the minor. However, the parent/custodian maintains control over those funds until the minor reaches the age of 21.

Open to: Minors under age 21 who qualify for membership. The Custodian does not have to be a member.
Key Features:
  • UTMA account shares belong to the minor.
  • Custodian is the only person permitted to transact business on the account. The Custodian (if alive) is responsible for transferring funds to the minor when the minor reaches age 21.
  • Funds may be used only for the benefit of the minor.
  • At any time a successor custodian can be named by the Custodian. The successor custodian would control the funds upon the death of the current custodian.
  • The Social Security number of the minor is reported to the Internal Revenue Service. Tax advice should be secured from the IRS by the Custodian prior to opening this account.
  • Dividends on UTMA accounts are considered income to the minor for federal income tax purposes. The information return, Form 1099 INT, will contain the name of the custodian using the minor's Social Security number. For example, "Pete Wilson, as custodian for Carrie Wilson, a minor, under the PA Uniform Transfer to Minors Act."
Costs and Charges: Over-the-counter withdrawal fee of $2 for any withdrawal less than $500
Interest Rate:
% Base Rate*
% APY*

Open a Custodial/PAUTMA Account

  • Visit one of our branches.
  • Call 215.934.3500 or 800.832.PFCU (outside the metropolitan area).
  • Not a member of PFCU? Sign up now!

* APY = annual percentage yield. Base Rate is a measure of how much interest will be accrued on an annual basis without taking into account compound interest. APY is the same interest rate measure, but accounts for compound interest – a better measure of how much you will actually earn in interest.

Open an Account

  • Call 215-934-3500 or 800-832-PFCU (outside the metropolitan area).
  • Stop by a branch location.
  • Not a member yet? Join us!

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