Junior Saver

A great way to introduce young people to financial responsibility

An instant access savings account for anyone aged between 0 and 16. Why not enrol your children, grandchildren, nieces, nephews or any special child in your life as a Junior Saver? Encourage them to save, save on their behalf, or do both! Then once the child becomes 16, their account will change to an adult membership.

Features:

  • Instant access to your junior savings

  • Withdrawals - by bank transfer, cash, cheque or transfers to other members

  • Deposits - by bank transfer, cash, cheque, Standing Order, or transfers from other members

  • Dividend - paid annually in November (2019 - 0.75%)

  • School Savers! available at participating schools

How to apply

You can apply for a Junior Saver online, in-branch or over the telephone.

Online

Complete our online joining form

In-branch

1. Provide one form of identification for the Junior and two forms for the adult signatory.

2. Complete a membership application form

 

Telephone

Speak to our friendly team on 01554 770867

Frequently asked questions

Who can open a Junior Saver?

Any one living within our Common Bond aged between 0 and their 16th birthday.

How can I open a Junior Saver?

An Adult Signatory will open the account and have control of it until the Junior Saver reaches age 16. The Adult Signatory must complete our membership application form and provide at least two proofs of ID for themselves and one piece of ID for the child.

What happens when the Junior Saver turns 16?

On reaching their 16th birthday, Junior Savers will become full members of SaveEasy Credit Union (if they are still eligible within our common bond). They will need to provide evidence of identity / address at this point.

Can I deposit bags of change into my savings?

Of course! Your change is very welcome.

How can I withdraw money?

A signed withdrawal request form must be completed and signed by the adult signatory held on account.

Are there any fees on the account?

No. Junior Saver's are free to open.

What interest or dividend is payable?

We pay a yearly dividend although the rate of dividend is not guaranteed. The final dividend paid may vary and it is possible that no dividend is paid at all. The dividend rate is proposed by the Board of Directors and voted on by the members at the Annual General Meeting (AGM). Dividend is based on the balances held in the account throughout the year.

Do I need to make regular deposits to keep the account open?

If you make no deposits on your account for 6 months or more, the Credit Union may declare your account dormant in accordance with membership terms and conditions. No dividend will be paid on dormant accounts.

How do I close my account?

To close your account please visit or telephone your nearest branch.

Llanelli & District Credit Union Ltd T/A SaveEasy is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority FRN: 213676. Members savings protected by the Financial Services Compensation Scheme.

Members of the Financial Ombudsman Scheme.