Share Savings

Dividends are paid at the end of each quarter with the rate being set by the Board of Directors after reviewing the available funds for dividends.  A $5.00 deposit is required to open an account and the minimum balance to earn dividends is $5.00.  See Menu Information and Deposit Rates.

Minors' Accounts Uniform Transfers to Minors Accounts (UTMA)

It's never too early to start saving for their future.  With a custodial account, established under the Louisiana Uniform Transfers to Minors Act, you can start saving for a child's future, today.

UTMA: The Trust Fund Alternative..... If you're a parent, grandparent, guardian, aunt, uncle or friend of the family looking for additional options to save for a child's future, CSE now offers accounts protected by the Louisiana Uniform Transfers to Minors Act (UTMA).  UTMA accounts can help you avoid some of the expense and complications associated with establishing a formal trust.  While a custodian must be designated to protect the account while the youth is underage, the funds become an irrevocable gift when the recipient reaches the legal age of 18.

Under the Louisiana Uniform Transfers to Minor Act, the funds in the account are owned by the child who has unconditional use of the account when he or she reaches the age of majority.  Before that time, the account may be accessed only by the custodian (or successor custodian), and the funds must be used for the benefit of the child.  CSE Federal Credit Union, however, has no duty or agreement whatsoever to monitor or insure that the acts of the custodian (or successor custondian) are for the child's benefit.  For this type of account, the child's SSN/TIN is used for the Backup Withholding Certification.

    Benefits:

• Children cannot withdraw funds without custodian
• Earns more money with dividends compounded and paid quarterly
• Only $5 required to open
• Instills the value of savings; easy to start saving today!

The UTMA Account is a great way to give money to children for their future because children can't have access to that money until they turn 18.  By that age, they should be more mature and better equipped to responsibily handle their finances.  It's a popular choice for grandparents providing for the future of their grandchildren.

Contact a CSE Member Service Representative (337.625.5747) or click here for more information.