Open a Savings Account for a Child

Open a Savings Account for a Child

Saving money for your child gradually over time is a great way to prepare for their future financial needs. Whether it’s a new car, college expenses, travel or an unexpected expense – saving money now will make a big difference later.  

To get started, simply decide how much you would like to save and how often, then choose one of the options below:

To Transfer Money Between Westerra Accounts

  • Use Westerra's Online Banking and set up a recurring transfer between accounts. (Use the “Quick Transfer” box on the “Financial Overview” page or use the “Transfer” tab.) Your child’s account number will need to be linked to your Online Banking transfer options.) Call 303-321-4209 to set this up, or​

  • Call 303-321-4209 and a Contact Center representative will set the transfer up for you, or

  • Fill out, print and mail the Transfer Funds Between Westerra Accounts Form to 3700 E. Alameda Ave., Denver, CO  80209, fax it to 1-866-208-1597 or deliver it to any branch.

To Transfer Funds from Another Financial Institution

Monthly Savings 1 Year 3 years 5 Years 10 Years 15 Years 18 Years
$25 $400 $1,001 $1,602 $3,108 $4,618 $5,525
$50 $700 $1,902 $3,104 $6,116 $9,135 $10,950
$100 $1,300 $3,703 $6,108 $12,131 $18,169 $21,799
$200 $2,501 $7,306 $12,116 $24,161 $36,237 $43,497

$100 initial Share Savings Account deposit, 0.05% interest rate computed daily and paid monthly. Interest rate may vary over time and impact savings amounts.  Federally insured by NCUA.