Minor Accounts

Members under the age of 16 years are classified as minors. Accounts may be opened for minors by a parent or guardian. The parent or guardian may operate the account for the benefit of the child until the child can provide his/ her own signature. From then on, only the child may make withdrawals from the account. Upon reaching 16 years of age the child becomes a full member. Members under 16 years cannot make a valid nomination - the beneficiary will usually be a parent or guardian.