Other Share Accounts

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Overview

Save and pay for qualified education expenses with a tax-advantaged account:

Choose an ESA Money Market Account (with no minimum balance) or ESA Certificate
Earnings are tax-deferred, and qualified distributions are tax-free
Beneficiaries can include children, grandchildren, siblings, nieces, and nephews
Maximum contribution limit is $2,000 per student per year
No contributions are allowed after the account beneficiary reaches age 18, with the exception of special-needs beneficiaries

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It’s easy to open an account online or at a Branch.

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Rates are effective as of November 20, 2024 and are subject to change. APY = Annual Percentage Yield.

Share Account	Dividend Rate	APY
Education Savings Account (S18)	1.490%	1.500%

Overview

Put money aside for a big vacation, holiday shopping, or another special goal:

Open up to two separate club accounts per member (S2/S3)
No minimum balance or monthly service charges
Track your progress in Online/Mobile Banking

Get Started Today

It’s easy to open an account online or at a Branch.

Open Now

Rates are effective as of November 20, 2024 and are subject to change. APY = Annual Percentage Yield.

Share Account	Dividend Rate	APY
Clubs (S2/S3)	0%	0%

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Uniform Transfers to Minors Act Accounts¹

Overview

Help your child to prepare for their future with two high-yield savings options:

Choose a Premium Yield Account (PYA)² or Certificate with varying terms
Dependents may accrue investment income at favorable tax rates
Anyone can contribute anytime, and funds can be withdrawn at any time
Custodian must oversee and make all withdrawals from the account until the child reaches the age of majority (21 in PA and NJ)

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Open an account Online, at a Branch, or call and speak with a Member Service Representative.

Open Now

Education Savings Accounts³

Overview

Save and pay for qualified education expenses with a tax-advantaged account:

Choose an ESA Money Market Account (with no minimum balance) or ESA Certificate
Earnings are tax-deferred, and qualified distributions are tax-free
Beneficiaries can include children, grandchildren, siblings, nieces, and nephews
Maximum contribution limit is $2,000 per student per year
No contributions are allowed after the account beneficiary reaches age 18, with the exception of special-needs beneficiaries

Rates are effective as of November 20, 2024 and are subject to change. APY = Annual Percentage Yield.

Education Savings Account (S18)
Dividend Rate	1.490%
APY	1.500%

Get Started Today

It’s easy to open an account online or at a Branch.

Open Now

Club Accounts⁴

Overview

Put money aside for a big vacation, holiday shopping, or another special goal:

Open up to two separate club accounts per member (S2/S3)
No minimum balance or monthly service charges
Track your progress in Online/Mobile Banking

Rates are effective as of November 20, 2024 and are subject to change. APY = Annual Percentage Yield.

Clubs (S2/S3)
Dividend Rate	0%
APY	0%

Get Started Today

It’s easy to open an account online or at a Branch.

Open Now

Estate Accounts⁵

Overview

Simplify your essential duties as an executor with a dedicated account solution:

Consolidate the decedent’s assets and proceeds from sales
Pay expenses and distribute assets to beneficiaries
Easily view and export a detailed record of all transactions

Get Started Today

Open an account at a Branch or call and speak with a Member Service Representative.

Open Now

Rates are effective as of November 20, 2024 and are subject to change.

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MOBILE BANKING

Keep It All at Your Fingertips

Manage your finances with ease — anytime, anywhere. Use the secure PFFCU Mobile App to view your account balances, transfer funds, pay bills, deposit checks, apply for loans, and more.

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Disclosures

The Uniform Transfers to Minors Act (UTMA) Account is established in a child’s name. The parent or legal guardian is the custodian of the account and, as custodian, must oversee and authorize all withdrawals on the account. When a minor reaches the age of majority (21 in Pennsylvania and New Jersey) the parent or legal guardian must turn over the funds or retitle the account in the name of the minor. Funds can be withdrawn at any time for the minor’s benefit. IRS allows a person to gift $15,000 per year to any other person with no tax consequences. Investment income that accrues to a dependent child under 19 years of age (or 24 if a full-time student) is taxed as follows: The first $1,050 is tax-free, the next $1,050 is taxed at the child’s tax rate, and the remainder may be taxed at the parent or custodian’s tax rate. After the child turns 19 (or 24 if a full-time student), the investment income is taxed on the child’s tax return at the child’s rate. Check with your tax advisor for full details.
Premium Yield Account owners are entitled to two FREE withdrawals per calendar month, including the transfer of funds between PFFCU Accounts. Accounts will be charged $10 for each additional withdrawal/transfer per month.
Qualified education expenses include, but are not limited to tuition, fees, academic tutoring, books, supplies, room, board, uniforms and transportation. Funds may also be used for elementary and secondary education expenses including tuition at private, parochial, and trade schools. No contributions are allowed after the account beneficiary reaches age 18, with the exception of special-needs beneficiaries. The only person who may withdraw funds from the account is the “responsible individual” named on the account. The beneficiary on the ESA may be changed at any time. Contributions are non-deductible, earnings are tax-deferred, and distributions are tax-free if used to pay for the account beneficiary’s qualified education expenses. Monies not used for qualified education expenses will be subject to taxes and a 10% penalty. Contributions can be made until April 15 of the following tax year. Maximum annual contribution limit is $2,000 per student. Contribution eligibility and limitations are based on contributors’ modified adjusted gross income. Check with your tax advisor for full details.
Club accounts do not pay dividends.
An original copy of the letters testamentary, letters of administration, or short certificate is required to open, along with an original death certificate and an Employer Identification Number (EIN) for the estate. If you do not yet have an EIN, one can be obtained from IRS.gov. We cannot open estate accounts with joint executors; if it states “or” or other language that allows one executor to act independently, the account may be opened, but if the executors must act together, we cannot open the account.
The Premium Yield Account (PYA) requires a $2,500 balance to earn dividends. Dividends do not accrue on days when the ending balance is below the required balance. Deposits of $2,500 or more earn 4.00% APY. PYA owners are entitled to two FREE withdrawals per month, including the transfer of funds between shares or to another PFFCU account. Accounts will be charged $10 per each additional withdrawal/transfer out. See the Account Agreements and Disclosures for additional transaction limitations.

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