Hackney Young Savers

Saving money can be rewarding and it can also be fun!

London Borough of Hackney and London Community Credit union have teamed up to encourage Year 7 students to build a saving habit. Pupils also have the opportunity to gain practical money management skills.

To jump-start your savings, Hackney Council will deposit £20 into your new or existing credit union Young Savers account as you enter secondary school.*

Students who participate in the scheme can also receive support on:

  • How to budget, save and borrow
  • Understanding finances
  • Gaining work experience or volunteering opportunities in financial services**
  • Running a credit union at your school

Why is the council investing in young people?

Money management is an important skill. Gaining independence requires an ability to budget, manage bills, phone contracts and interact with banks.

Young people who learn money management and budgeting from an early age can gain an advantage. Learning to save is a key part of this.

Develop a savings habit

We encourage savers to make regular deposits. There are no limits so you could save as little or as much as you can afford. We suggest at least a monthly contribution.

Open a Junior Membership with Hackney Young Savers

  1. Complete an application and apply at our Hackney branch. We will open your account and credit the £20.
  2. If you attend a participating school you can join there. Schools will pass on your details and bank your deposits.

If you already have an LCCU junior membership and are resident in Hackney account, you are eligible for the £20 payment when you enter Year 7. Please let us know and we will credit your account.

So, What are you waiting for?  Join today and take advantage of this fantastic opportunity!

* The initial £20 payment into your account cannot be withdrawn until your 18th birthday

** Work experience and volunteering is subject to age and availability

Hackney Young Savers Application Form