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Youth Savings Accounts
Child with a piggy bank

It All Starts With A Savings Account

A basic savings account is the perfect way to begin your children’s financial education.

  • Children under 14 receive a moonjar coin bank with an account opening.

  • Kids can use the moonjar bank to learn from an early age about saving, spending, and sharing

  • Our sticker rewards program gives kids prizes for making deposits.

 

To open a Youth Savings Account, please visit any branch location with two forms of identification for your child (child’s social security card must be one form of ID).

Youth Certificate
Father and daughter sorting coins

Save Even More With An Aware Youth Certificate

  • For longer-term savings, children can open an Aware Youth Certificate to earn a higher dividend rate.

  • This unique certificate allows young savers to add money (minimum of $20) at any time.

  • Low minimum balance requirement of $100.

  • Available for account holders up to age 19.

  • See certificate rates.

 

To open an Aware Youth Certificate, please visit any branch location with two forms of identification for your child (child’s social security card must be one form of ID).

Prep For College

Start Saving For College With A Sprout Matching Account

It's important to save for your child's future, but what if you're not sure what that future holds? FORUM's Sprout Account is the perfect place to watch your child's savings grow for whatever the need.

Features

  • Account can be opened at any time from birth to age 18.

  • FORUM will match 10% of deposited funds per calendar year at the following tier levels:
    - $20 match for deposits between $200 and $499.99
    - $50 match for deposits between $500 and $749.99
    - $75 match for deposits between $750 and $999.99
    - $100 match for deposits of $1,000 or more

(For example, if you deposit $650 in a calendar year, FORUM will match 10% at the $500 tier level, giving you $50. The maximum match is $100. FORUM will not match deposits made in the calendar year the child turns 18.)

  • Funds are available when the child turns 18 and will automatically transfer to the child's Share Savings Account.

  • No minimum deposit is required to open the account.

  • Contributions can be made by anyone and at any time.

  • Earn a competitive dividend rate.

  • Certain penalties may apply for early withdrawals and/or early closure.*


To open a Sprout Account, visit a branch location and have two forms of identification for the child (e.g., birth certificate, social security card), as well as your personal identification for proof of guardianship.

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*One account per child. Child is the account owner. The matching contribution is paid out on the last day of the year, December 31. You will earn the annual cash bonus if you meet any of the following total deposit requirements made between January 1st and 12 noon Eastern Standard Time on December 31st. Deposits made after 12 noon through midnight on December 31st will not qualify for the bonus. Maximum match of $100. FORUM will not match deposits made in the calendar year your child turns 18. Penalty for early withdrawal of 10% of the lifetime interest earned on the account and all matched funds. The following distributions are exceptions to the 10% penalty: the account owner has a disability; first-time auto purchase; tuition, fees, books, supplies, and equipment required for enrollment or attendance at an educational institution. Expenses and purchases must be incurred for the child named on the account.

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