Kids Only

Regular Savings or Kids under 18 years old

San Dollar Kids Club

Teach good savings habits early…

Every dollar you save is one step closer to reaching your goals. pig

We will provide you a Goal Savings Passbook to track your progress. A Goal Savings Passbook is a fun way to teach good saving habits.  Set a goal to buy a toy, computer, gaming device. Save for a trip, party, or charity.  We’ll give you a passbook to track your savings and help you celebrate when you reach your set goal.
Come in and start a Sand Dollar Kids Account today!
A minimum deposit of $5 can start your account.
You must be eligible to join the credit union (and parents, you’ll need to come in too.)

Private Student Loans

The South Bay Credit Union Smart Option Student Loan by Sallie Mae®
For borrowers attending degree-granting institutions

Now you can pay for college the smart way with three great repayment options and competitive interest rates!

The loan is an ideal solution to help you pay for college expenses not covered by scholarships and federal loans. To learn more or to apply, please get started here.

The Smart Option Student Loan features and benefits:

  • Multiple in-school repayment options plus a choice of competitive fixed and variable interest rates, providing even more flexibility
  • No origination fee and no prepayment penalty
  • Benefits and an interest rate reduction available
  • Rates that reward creditworthy borrowers
  • Applying with a creditworthy cosigner may help you qualify
  • 100% US-based Student Loan Specialists

To learn more or to apply, please get started here.

* We are compensated by Sallie Mae for the referral of Smart Option Student Loan customers.

Uniform Gifts/Transfers to Minors Accounts

South Bay Credit Union offers Uniform Gift to Minors Accounts (UGMAs) and Uniform Transfer to Minors Accounts (UTMAs) which allow you to invest under a child’s name with an adult as custodian. For the most part, any adult can also be the custodian of the account.  Please review California Uniform Transfer to Minors Act for details.


Unlimited Investments – There is no limit to the amount of money that can be invested in an UGMA or UTMA, so you can use it to cover a significant portion of your child’s college costs.

Tax Advantages – Because the first several hundred dollars of earnings are not taxed, and a child’s tax rate – 10% for most minors – is usually lower than an adult’s, UGMAs and UTMAs can produce significant tax benefits for your family. Please consult with your tax advisor.

Flexible Contributions – Any concerned adult – a grandparent, aunt, uncle, or godparent, for example – can establish an UGMA or UTMA.

 Things to Consider

Assets Might Not Be Used for College – Once the child takes control of the account, the child may then use the money for purposes other than education – regardless of the custodian’s wishes.

May Reduce Financial Aid – If your family is applying for need-based financial aid, having an UGMA or UTMA may reduce the size of the package.

Using the Money – If the child begins college before reaching the age when the custodianship ends, money in an UGMA or UTMA can be used to pay higher-education costs, as long as the custodian agrees. When the child reaches the age when custodianship terminates, however, he or she takes complete control of the assets and can use them for any purpose.  When the account is still under the custodian’s control, withdrawals from an UGMA or UTMA can be used to pay for special expenses – those beyond the normal costs of living. The custodian must agree to these withdrawals, however, and they must be for the child’s benefit. There is no penalty if the proceeds are used to pay for non-educational expenses, regardless of the child’s age.

Coogan Blocked Trust Accounts

Under the California Coogan Act (SB 1162), whenever a child actor or athlete works under contract, employers are required to deposit 15% of gross earnings directly into a Coogan Blocked Trust Account that has been set up in the minor’s name. These earnings are the legal property of the minor and monies placed in the trust cannot be touched by anyone until the minor turns 18 or becomes legally emancipated.  Please refer to the full Coogan Law for details.  Parents or Legal Guardians are required to establish a “Coogan Account” within seven business days after a minor’s employment contract is signed, and to provide the minor’s employer with a copy of a trustee’s statement evidencing proof of the account within 10 business days after the start of employment.
  • The child must be eligible for membership at the credit union, which includes proof by a parent or legal guardian of eligibility to establish membership.
  • Your child must open Sand Dollar Savings Account first – only $5 to open, no minimum balance requirements, no monthly fees
  • No minimum required for Coogan Account
  • We will provide you the required “Proof of Account” statement the same day the account is opened
Ask us about transferring existing Coogan Accounts from other financial institutions to us.

Learning is FUN

Visit Pocket Cents for information about money…sponsored by the National Credit Union Administration.