Maxx Money Club Account
The Maxx Money Club is a dividend bearing share savings account designed for kids from birth to 13 years of age. The account must be opened as joint with a parent/guardian or another responsible adult.
- Birthday cards and potential prize money in their account if they visit the branch during the month of their birthday.
- Report card rewards. Maxx Money Club members earn $1 for each “A” received on their report card. Report cards must reflect the most current grading term and only one dollar per subject. ($1 per subject with a max of $10 per student per school year)
- Children under six months of age receive their first $5 as a gift from CPM Federal Credit Union when the account is opened.
- Quarterly newsletter with coloring contest. Latest Maxx Money Kids' Club Newsletter
- Uniform Transfer To Minors Act
Uniform Transfer to Minors Act (UTTMA) account. The account is owned by the child but controlled by the custodian, who can be a parent or another adult. Either the child or the custodian must be eligible for membership. The custodian also has the option to name a successor custodian to act in the event of his/her incapacity, death, resignation or removal. Funds in a UTTMA account may be released to the minor at age 18, and must be released when you reach age 21.
Coverdell Education Savings Account
Get a head start saving for college with a Coverdell Education Savings Account. Parents can add up to $2,000 each year until the child reaches 18 years old. Get the money out—including the dividends we pay —tax-free* if you use it for elementary, high school or college.
The Children's Online Privacy Protection Act
CPM Federal will never collect or share any information with anyone on any child without prior written authorization from your parents.
You will see the word "COPPA" further down in this text. It stands for "Children's Online Privacy Protection Act." Former President Clinton signed this Act into law on October 21, 1998; and, after careful research and deliberation, the Government announced (on April 21, 2000) specific rules that sites like the Maxx Money Club page must follow. These rules require us to give you and your parents the following information:
- When you visit our site, we do not collect any personal information about you. (We never did, even before COPPA was established). Since we do not ever collect personal information, we do not need to tell you about other COPPA rules. However, if you or your parents would like to read more about COPPA, please go to the Federal Trade Commission's website.
- Please note that our computer automatically knows the address of the computer you are using (which includes the name and domain from which you access our Web site), the date and time that we sent the pages to you, and the address of the Web site that referred you to us. This information is used by us only to evaluate how useful our Web pages are to users like you.
- If you send us an e-mail, you identify yourself to us. This is your choice and that of your parents. For instance, if you send us an e-mail message asking us for help with your school project - or for help with locating certain information on our Web site, we will see your e-mail address. However, we guarantee you that we do not release such information to other people. We only respond to you.
If you need further information, please contact the CPM Federal Credit Union's Marketing Department by calling 800.255.1513 or by email.
If any personal information is collected from a child under the age of thirteen (13) including name, address, phone number, e-mail address, etc., the information will not be sold to third party vendors. In addition, CPM FCU’s website may include links to external web sites of others that are not associated with CPM FCU that provide educational resources or products for children.
* Consult a tax advisor for details.