A Texas Uniform Transfers to Minors Account is a wonderful way to provide for your child's future. As a Capitol Credit Union Member you can open a TUTMA for any person under the age of 21 with only a $50 minimum deposit. The account earns dividends on balances of $100 or more, which are compounded and paid monthly. The management of a TUTMA can be placed in the care of a person designated by the donor.

When you open a TUTMA account there are unlimited in-person withdrawals, permitted by the custodian without any penalty fees.

Texas Uniform Transfers to Minors Account . A Texas Uniform Transfers to Minors Account (TUTMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the Account . The custodian has possession and control of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account, until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal.

Overview:

Give us a call or stop in your local branch if you would like to find out more benefits to CCU's Turma Accounts. 800-486-4228.

• Youth Accounts
• CCU Student Education Center