TruMark Financial Credit Union offers custodial accounts, trust accounts, estate accounts, and restricted burial accounts for members
You also can turn to TruMark Financial for accounts you may need to manage for other people including custodial accounts, trust accounts, estate accounts, and restricted burial accounts. Visit your local branch to open an account.
Allowable under the Pennsylvania Uniform Gift to Minors Act, a custodial account allows parents or other interested parties to give a gift of money to a minor without the need of a court-appointed guardian. A custodial account is listed under the minor’s name and Social Security Number and:
All funds must be used for the child’s benefit
The custodian handles all transactions on behalf of the minor until age 21
Dividends paid on the account is computed daily and compounded and posted monthly
Consider a tentative trust account with TruMark Financial for funds you want to leave to a beneficiary. You’ll retain full rights and access to the account while you’re living. A TruMark Financial trust account also allows you to:
Revoke the trust agreement at any time
Use the account as collateral on a share-secured loan
A restricted burial account can be established for members receiving state aid for nursing home care. These funds, set aside in a frozen account for the sole purpose of burial expenses, cannot be seized by the state. The interest on this account is compounded and posted monthly.