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Children's Savings Accounts - Tower Savers Kids Savings

No offense to the piggy bank on the shelf, but kids need a better place to put their money so it grows into something great. Our Tower Savers child savings account is designed just for that.

A Savings Account That's Cool for Kids

  • Start with no minimum deposit to open1 and no monthly service charges through age 212 (because otherwise this wouldn't be a very friendly children's savings account)
  • Watch money grow with tiered interest rates
  • Keep track of every penny with free monthly statements

Practical for Parents

  • Get total access digital banking, available on your laptop, or on your tablet and smartphone with our mobile banking app3
  • Link your account to the child savings account so you can see everything in online banking
  • Set up Direct Deposit and automatic transfer to help build the savings4

Built for the Future

Eligibility & Child Savings Account Set-up

  • Perfect for young savers through age 212 that want to save for their future
    • The child savings account can be maintained once the child turns 22, but may incur a monthly service charge
  • Account titling determines the child’s level of access:
    • Joint – if the child is 14 years of age or older, parents/guardians have the option of being jointly titled on the account so the child can be involved
    • Custodial (UTMA) – parents/guardians can also choose to be the custodian on the account, which allows them to maintain control of the account until the child is 21

We'd love to get you started on your savings journey. Open your child's savings account online, in person at a community office near you or on the phone with us at 844-711-BANK (2265).

fund my future

If you live in Pennsylvania, you may be eligible for the Fund My Future program. Fund My Future is administered by the Propel Schools Foundation to help families of children in Pennsylvania save for college and other post-secondary goals by making the saving experience fun. Studies show that children with savings accounts in their names are three times more likely to attend college and four times more likely to complete college, regardless of their family's wealth, income or education. Our Tower Savers accounts are the first step in the Fund My Future program.

These Frequently Asked Questions can help you learn more and get started.

1 First deposit must be made within 45-days for account to remain open.

2 There is a monthly service charge of $3 once the child reaches age 22, which can be waived by maintaining a minimum daily balance of $200.

3 We don’t charge for these services but standard message, data, and internet service provider rates may apply so check with your carriers.

4 During any statement cycle, you may not make more than six (6) withdrawals/transfers to another bank account of yours or to a third party by means of a preauthorized agreement, by telephone, online banking or initiated by check, draft, debit card, or similar order to a third party. This includes online bill payments and overdraft transfers. If you exceed the withdrawal limit three times in a twelve month period, the account type may be converted to a non-interest bearing account.