Other Accounts
We are here to help Tyndall Federal also offers accounts for special purposes.
Florida Uniform Transfer to Minors Account
As an irrevocable transfer to a minor, this account is opened for children under the age of 18 and is a great way to save for their future. The Florida Uniform Transfer to Minors Account is opened and managed by a Custodian (usually a parent or grandparent), but the funds in it are owned by the minor child. The child does not have access to the funds in this account until he or she legally becomes an adult. This is usually on the child’s 18th birthday, but the laws may vary by state. Although the Custodian may withdraw from the account, the funds must be used for the benefit of the minor. The Custodian may be required to submit proof to the Internal Revenue Service of how the funds were used.
The minimum to open this account and earn the Annual Percentage Yield (APY) is $5.
Benevolent Account
A Benevolent Account is a savings account established for a charitable purpose. It is often an account created to collect contributions to a family “In Memory of” a deceased person. It may also be used to collect contributions for a person who has a medical or emergency need, such as someone who is battling a disease or someone who has lost a home to a fire. Only a Savings Account may be opened for this purpose, and all parties to the account must be eligible for membership.
The minimum to open this account and earn the Annual Percentage Yield (APY) is $5.
Representative Payee Account A Representative Payee Account is an account established on behalf of a minor child or an adult who has been declared incompetent (the beneficiary). In most cases, the beneficiary is receiving Social Security or SSI payments and is not capable of properly handling his/her money. A Representative (an individual or organization) is chosen to manage the money of the beneficiary. The funds in the account belong to the beneficiary and may only be used for his/her needs. The beneficiary must be eligible for membership with Tyndall Federal.
Because it is important for the Representative to be able to keep records of what the funds are being used for, a Checking Account is available on a Representative Payee membership. It is very useful to have check images available to keep track of how the funds are being used.
The minimum to open this account and earn the Annual Percentage Yield (APY) is $5.
If you have any questions about these accounts, please contact our Call Center at (850) 747-4300 or 888-896-3255, toll-free. You may also visit one of our convenient Branch locations.
Loan Rates 
