UTMA

Uniform Transfers to Minors Act (UTMA)

UTMA accounts, are allowable under the Pennsylvania Uniform Gift to Minors Act. This is a custodial account that allows interested parties to give a gift of money to a minor without the need of a court-appointed guardian. A custodial account is listed under the minor’s name and social security number, but the custodian is responsible for transactions on the account.

Please note: UTMA accounts are separate from the Armco Youth Programs and are not eligible to receive other incentives.

  • Minimum $5.00 to open an account plus a $1.00 membership fee if the minor isn’t already an Armco CU member.
  • Only one custodian may be named. This is the only person permitted to withdrawal money. The minor is not permitted to make withdrawals.
  • Other family members and friends may deposit money into the account.
  • No maximum amount or restrictions on how much money can be deposited.
  • No penalties for withdrawal.
  • An UTMA account can be opened as soon as the child has a Social Security Number.

4 convenient ways to open an account 

UTMA UTMA accounts, are allowable under the Pennsylvania Uniform Gift to Minors Act. This is a custodial account that allows interested parties to give a gift of money to a minor without the need of a court-appointed guardian. A custodial account is listed under the minor’s name and social security number, but the custodian is responsible for transactions on the account.

At Any Branch

UTMA UTMA accounts, are allowable under the Pennsylvania Uniform Gift to Minors Act. This is a custodial account that allows interested parties to give a gift of money to a minor without the need of a court-appointed guardian. A custodial account is listed under the minor’s name and social security number, but the custodian is responsible for transactions on the account.

Call Any Branch

UTMA UTMA accounts, are allowable under the Pennsylvania Uniform Gift to Minors Act. This is a custodial account that allows interested parties to give a gift of money to a minor without the need of a court-appointed guardian. A custodial account is listed under the minor’s name and social security number, but the custodian is responsible for transactions on the account.

Online

UTMA UTMA accounts, are allowable under the Pennsylvania Uniform Gift to Minors Act. This is a custodial account that allows interested parties to give a gift of money to a minor without the need of a court-appointed guardian. A custodial account is listed under the minor’s name and social security number, but the custodian is responsible for transactions on the account.

Mobile App

Open Account