Junior Savers

Members can open a Junior Saver account in the name of a relative under the age of 16.

When the young person turns 18, their account will be changed to a full Member account, making them a joint owner in their local credit union. When they become a full Member, they get to vote, access their savings and access low cost, affordable loans when they need to.

Encouraging children to save is a great habit to get them into for the rest of their lives - having savings reduces financial stress and allows people to more easily afford key expenses like putting a deposit down for a mortgage, buying a car, getting married, going on holiday or even just expenses at Christmas.

Each year, we distribute the profits we make to Members and back into the credit union - this is decided upon and voted by Members each year at our AGM. For full Members, this is by way of a dividend (full Members are shareholders and joint owners of their local credit union) but for Junior Savers this is an interest payment into their savings account. Please note that annual interest payments are not guaranteed, but we've made interest payments of at least the same percentage as dividends, if not more, over the last number of years.

Come and speak to us about Junior Saver accounts and encouraging a young person you care about to start their savings journey with their local, community-owned credit union.