Charter College Fund
A smart way to save for your child’s education or future planning needs.
We get asked a lot – do you have to use this savings account just for college? The answer to that is no, but the funds must be used for the child and their needs as when the money is withdrawn, it must be in the child’s name. So that means this money can be used for any expenses in their future like tuition, books, deposit on an apartment, purchase of a car, etc.
Fees
- A service charge of $5.00 will be charged for each debit transaction (withdrawal, automatic transfer, or payment out of this account).
Features
- Free piggy bank when opening the account
- Interest compounded and credited quarterly
- Interest is calculated using the daily balance method
- Double digit rate on the first $250
- Quarterly statements (Monthly if there is electronic activity)
- Free Online Banking
- Free eStatements
- Free Telephone Banking
Eligibility for this account concludes at age 21.
View Rates
Transaction Limitations on all Money Market and Savings Accounts:
Federal Regulation D limits the number of transfers or withdrawals from each of these accounts to another account of yours or to a third party made by check, draft, debit card, telephone, online banking, mobile banking, as well as preauthorized, automatic, and wire transfers to six (6) per month. Transactions made in person at the bank, by mail, or at an ATM are not included for calculating Regulation D transaction limitations. If you exceed the transaction limitations, your account may be subject to closure.
