Student Accounts

A minor eligible for membership may open their own savings and checking account with a debit card at the age of 16. A photo identification is required such as a valid driver’s license or school ID as well as proof of address (a report card or a statement from another financial institution is acceptable). If a checking account is opened, a credit report is obtained on the minor. A parent or legal guardian can only be added as a joint owner with the written authorization of the minor by completing a new Membership Application with the joint owner.

The Credit Union will allow a minor to open a joint account with a parent or legal guardian. To open a joint account, the minor has to be able to sign his/her name on the signature card. Otherwise, a custodial/UTMA account can be opened. If the last names of the minor and the joint do not match, we require a birth certificate or legal guardianship documentation to verify the relationship. A photo identification is required for the joint owner such as a driver’s license, passport, military ID or other government issued ID. If the minor is age 16 or 17, a checking account may be opened and a credit report will be obtained on the minor and joint owner. Check endorsements are limited to the minor or the parent/guardian who must include the following verbiage:

Signature of parent/guardian
Parent/guardian of [child’s name]

The Credit Union offers Custodial/Uniform Transfers to Minors Act (UTMA) accounts which can be opened by a custodian who is a parent or legal guardian. Deposits to a custodial account are an irrevocable gift to a minor. Checking accounts and debit cards are not permitted under the custodial account ownership type. An ATM card can be issued to the custodian of the account. If the last names of the minor and the custodian do not match, we require a birth certificate or legal guardianship documentation to verify the relationship. The child can assume control of the funds when he or she reaches the age of majority. The designated custodian does not own the deposits in the account, the minor is ultimately the owner of the funds in the account.

Stop payments may be requested during business hours by phone or in person. The fee for this service is outlined in our fee schedule [link to https://www.esfcu.org/EducationalSystems/media/Documents/FeeSchedule.pdf]. There is no fee if the stop payment is requested online through Digital Banking.

Please follow our step-by-step guide to deposit a check at our ATM.

You can open an account at Educational Systems FCU by visiting a branch or mailing in a paper application to PO Box 179, Greenbelt, MD 20768-0179. You will need to provide a photo identification and verification of address.

Keep in mind that once you’re a member, you’re always a member, even if you leave your place of employment. Membership is based on your employer or family relationship at the time of Credit Union enrollment and maintaining the required minimum balance.