Save, Borrow, Invest in Tomorrow

Junior Savers accounts

Children under 16 in families where an adult lives or works in Eden District or South Lakeland District can open a Junior Savers account (but cannot become members of the credit union).  The minimum balance is £3.  No fees of any sort are charged on the account. 

Anyone can set up and pay in to a Junior Savers account but only the adult nominated at the time the account was opened may make withdrawals.

Junior accounts should have an adult signatory  - this should be a parent, grandparent or guardian.

Junior Savers Accounts may attract a dividend. The dividend is paid on a Junior Savers account annually immediately following our Annual General Meeting. This is based on the average balances held in the preceding financial year (ending 30th September).
 
The rate of divided is reviewed from time to time by the Board of Directors and proposed for approval by members at the Annual General Meeting. Members may approve or reduce this rate.
 
The dividend paid following each of the last four financial years was 1%.
 
The next dividend, if any, will be due for payment in February 2019 based on average balances held in the year ended 30th September 2018.

Junior savers must become full members when they become 16 years of age.
Junior savers cannot obtain loans or have a prepaid card.

Download a Junior Savers Application Form.