UTMA/UGMA - Minor Money Market Savings

Our Money Market Savings Account is ideal for maintaining cash for emergencies and saving for major purchases. It provides the liquidity of an interest-bearing savings account plus limited check-writing capability and free checks. And with our highly competitive, tiered interest rates, you earn more as your balance grows.


  • Savings account opportunity available until age 18
  • No minimum opening deposit
  • No monthly maintenance fee1
  • Competitive, tiered interest rates2
  • ATM card and ATM withdrawals with no fee charged for first six ATM withdrawals per statement cycle3
  • Manage your accounts and pay and receive bills with OnCommand online banking and bill pay
  • Free Coverdraft protection4
  • Limited check writing1
  • Unlimited telephone banking at no charge
  • FDIC insured

How Uniform Gifts/Transfers to Minors (UGMA/UTMA) Works

  • Invest up to $14,000 per year tax free ($28,000 per year for married tax payers, filing jointly) per beneficiary. There are no annual contribution limits.
  • If the child is under age 19, the first $1,000 of the child's investment income is free from federal income tax; the second $1,000 is taxed at the child's rate. Income over $2,000 is taxed at the parents' marginal tax rate.
  • Gifts to the child are irrevocable.
  • The child receives legal control of the assets generally at age 18 or 21, depending on the state, and can spend the money as he or she wishes.
  • UGMA/UTMA accounts are considered assets of the child. This means they have a higher impact on financial aid eligibility than 529 plans or Coverdell accounts.

View our current rates and fees.

1 Federal regulations allow a maximum of six withdrawal/transfer transactions per statement cycle, including checks and excluding ATM transactions. Excess withdrawal fee is $10.00 for each withdrawal exceeding six.

2 Interest credited and compounded monthly. Increasing interest tiers with minimum balances of $1 / $2,500 / $5,000 / $10,000 / $25,000 / $50,000

3 FCB does not charge a fee for the first 6 ATM withdrawals per statement cycle, subsequent transactions will be charged $1.50 each. There is no surcharge to FCB Debit or ATM Cards used at ATMs in the MoneyPass® network. FCB will rebate other ATM surcharge fees, charged by ATM owners, up to $15 per statement cycle

4 Coverdraft available from another FCB deposit account or FCB line of credit.