Kids Savings Accounts are set up for parents and other custodians to help their child save while limiting their access. Only adults who are designated as account custodians can make withdrawals and deposits– or even close the account. You can choose to open a regular savings account, money market savings account or savings certificate for a minor. Features & Benefits Name one minor and up to two custodians on an account Give account control when the child turns either age 18 or 21 Save for long-term goals, like college or other education Manage account via online banking, mobile banking1 or by telephone Encourage family and friends to make monetary gifts to minors Set up automatic deposits 1 While mobile banking is free from VACU, please be aware that your mobile service provider may charge you for data plan usage. Check your plan before you start using the service. Teach your child to save, smartly. It’s never too early for a kid to learn how to put money away for a future need. Our kids’ savings account helps you teach them how to save. Open now Savings Resources See More Resources Savings FAQs Frequently asked questions about savings. Teens and Money: Checking and Savings Account One of the first steps toward real freedom (and adulthood) is having a checking and savings account in your own name. These accounts allow you to save money, make purchases, and pay bills efficiently. How to Raise a Financially Confident Kid Most parents understand that they should teach their kids about money. Knowing where to start, on the other hand, is another story.