We all know that it’s important to save and the earlier you start the better. Our Junior Saver is for our Junior Members. It helps encourage young people to save and to learn how to manage their money.
This account is available for people under 18.
The account may be operated in the following ways:
- A junior member may be allowed by a parent to operate their own account. The parent may set a limit on the maximum amount that can be withdrawn.
- Parents may open an account for their children and agree on the age when the child will take control of the account.
- At the age of 16, the account will be transferred to adult membership status. However, members will not be able to apply for loans or serve on the Board or any Committees until the age of 18.
Young people are able to make deposits through:
- Local schools participating in the school scheme
- Credit Union offices
- Parents – via direct debit, standing order, payroll deduction or child benefits
Why not enrol your children, grandchildren, nieces or nephews as junior members of the credit union?