MIUTMA Savings
Open an interest bearing account for your children or grandchildren so that they have money waiting for them when they turn 21. This is a great way to set your child up financially so they have funds when they're ready to start building their own life.
- Summary
The MIUTMA (Michigan Uniform Transfer to Minor Act) Savings account is intended for parents or guardians who wish to save funds for a minor. While the account is in the minor's name, the account custodian will control the funds, and withdrawals may only be made by that person.
- Save funds for a minor
- Interest bearing
- Unlimited deposits
- Free e-Statements
- Funds remain under custodian's control until minor turns 21
- Funds released to custodian only
