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Streamline the Way You Save for College

Custodial Accounts, or the Uniform Transfers to Minors Act (UTMA) with State Farm Bank®

These accounts give parents, relatives, and family friends a way to give money to a minor without going through the complicated process of establishing a trust. Though not specifically designed for college expenses, the Uniform Transfers to Minors Act (UTMA) has helped many families pay for higher education. Anyone can make contributions to the account and there are no limits. Contact an agent for details or to open a Custodial Account with State Farm®.

State Farm Bank® deposit accounts are FDIC insured.

Contact an Agent

for details or to open an account

Fast Fact

This account belongs to the minor whose name is on the account. Once the child reaches the age of 211 and gains control of it, the funds can be used for any purpose, not just education expenses.

Save with a Name you Know and Trust – Anywhere, Anytime

State Farm Bank is a full-featured online bank, providing our customers 24-hour access to a wide range of products that offer both convenience and the security of FDIC insurance. You can fund the Custodial Account with:

  • Money Market Savings
  • Fixed Rate CDs
  • Savings Accounts
  • Checking Accounts

1This account will be governed and administered in accordance with Illinois law to the extent not preempted by Federal law.

For more information about FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

If you have additional questions about FDIC coverage limits and requirements you may also call the FDIC toll free at 877-ASK-FDIC, or call State Farm Bank toll free at 877-SF4-BANK (877-734-2265).

Ni State Farm ni sus agentes proporcionan asesoría fiscal o legal.

State Farm Bank, F.S.B., Bloomington, Illinois ("Banco"), es un Member FDIC y un Equal Housing Lender. NMLS ID 139716. Los otros productos que ofrecen las compañías afiliadas de State Farm Bank no están asegurados por la FDIC, ni constituyen una obligación de State Farm Bank, ni están garantizados por State Farm Bank y podrían estar sujetos a riesgos de inversión, incluyendo la posible pérdida del principal invertido. El Banco anima a todo individuo interesado a presentar una solicitud para obtener cualquier producto ofrecido por el Banco. También te animamos a que obtengas información relacionada con las normas de suscripción del Banco para cada tipo de crédito o servicio ofrecido, visitando statefarm.com® o contactando al Banco al 877-SF4-BANK (1-877-734-2265). Si eres sordo, tienes dificultades auditivas o no te comunicas verbalmente, puedes comunicarte con nosotros a través del 711 u otros servicios de retransmisión. Para solicitar un producto del Banco, también puedes ver a tu agente participante de State Farm.

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