Custodial Accounts

  • Custodial Accounts

     

    Metro Credit Union and the City of Boston have partnered up to provide you with the option of a custodial account!

     

    Custodial accounts work just like savings accounts, but you only need to provide basic information - no Social Security Number or identification card needed. Your deposits will still be for the benefit of your child;.the account will be under the tax ID of and managed by the Boston Educational Development Fund.

     

    Some things you should know about custodial accounts:

    • You can deposit into these accounts
    • You can also withdraw from these accounts, though you will need to use this form to make a withdrawal. You will get a check in the mail from Metro Credit Union once the form is processed. This may take up to a week.