Benefits of Launching Early with Logix
Launch Pad savings account helps to secure your child’s future and also helps them learn good money habits while having fun with educational tools, like interactive web activities and coloring books. You’ll help build their independence while teaching them to develop good financial habits that they’ll use for the rest of their lives!
Tax Advantage
Income earned on the contributions is generally taxed at the minor’s tax rate.Tax Exemption
Money contributed to the account may be exempt from paying a gift tax.Withdraw Funds as Needed
Assets can be withdrawn, for the benefit of the minor, without penalty.Tools and Resources
Fun, educational tools that teach your child about money management.
For a limited time only, get a free Logix snack bag when you open Logix UTMA Launch Pad Savings Account. Prepare for your child's future today.
It’s a Uniform Transfers to Minors Act (UTMA) savings account - an irrevocable custodial savings account held for the benefit of a minor.
While all assets in the account belong to the minor, the adult custodian manages the funds, investments, or assets until the minor reaches the age of majority. This savings account is a great way to build wealth for your child and enjoy potential tax benefits too.
Why you should choose to start saving early?
Saving early can help aid future education costs. With a UTMA Launch Pad Savings Account, there’s no limit to how much you can invest and there are no limitation on how you spend the money. The savings can help with tuition and other extra expenses, like groceries, books, and rent. It’s never too early to prepare for your child’s future.
Help your children learn good money habits by teaching them the fundamentals of savings. Help build their independence while teaching them to develop good financial habits that they’ll use for the rest of their lives! Take a look through these tips to find something that will work best for you and your child.
At Logix we like incorporating the fun in Smarter Banking. With a Logix UTMA Launch Pad Savings Account, your child can learn good money habits while having fun with educational tools, like interactive web activities and coloring books. Check out our activities page for all the fun.
Your deposits are federally insured up to $250,000 by the National Credit Union Administration. We've maintained a perfect record of positive earnings since 1937 and hold a 5-Star rating for financial strength from Bauer Financial.
Visit a branch or contact our Member Service Center to open a Logix UTMA, Launch Pad, savings account for your kids today, and get a free children’s snack bag!
The content is provided for informational purposes only, and not intended to provide investment or tax advice. Please consult your tax advisor for information and advice on the tax implications of a custodial account. Logix membership is required, including opening a savings account with a minimum $5 deposit. Limit one free children’s snack bag per child, while supplies last. Logix Smarter Banking is a registered trademark of Logix Federal Credit Union.
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