Junior Savers Account

Junior Savers Account with Thamesbank Credit Union

Start saving young: Open a Junior Saver Account with Thamesbank Credit Union.

Is your child under 16 and interested in learning the value of saving? Are you a parent or grandparent looking for a safe and rewarding way to help your child build a nest egg for the future? Look no further than Thamesbank Credit Union’s Junior Savers Account.

Why choose a Junior Savers Account?

  • Develop smart saving habits: Opening a Junior Savers Account is an excellent way to introduce young people to the concept of saving money. By watching their balance grow with regular deposits, they’ll gain a sense of accomplishment and understand the importance of saving for future goals.
  • Save for special occasions: Junior Saver Accounts are perfect for saving for upcoming milestones like birthdays. Encourage your child to set a savings goal and track their progress, fostering a sense of responsibility and financial planning.
  • Safe and secure: Thamesbank Credit Union is a Financial Conduct Authority (FCA) regulated financial institution, ensuring your child’s savings are secure. Unlike traditional piggy banks, Junior Saver Accounts offer peace of mind knowing their money is protected.
  • Building a bright future: By starting to save early, your child can accumulate a significant amount of money over time. This head start can be invaluable for future endeavours, such as higher education, a first car, or a down payment on a home.

Benefits for Parents and Guardians:

  • Teach valuable lessons: A Junior Savers Account allows you to actively participate in your child’s financial education. You can set regular savings goals together, explain budgeting principles, and celebrate their achievements as their savings grow.
  • Convenient deposits: Easily contribute to your child’s savings through regular deposits from your own account or one-off gifts for birthdays and special occasions.
  • Peace of mind: Knowing your child is developing responsible saving habits and has a secure place for their money brings peace of mind.
  • Membership benefits: By opening a Junior Saver Account, you’re automatically eligible for all the benefits of Thamesbank Credit Union membership, including access to affordable loans and other financial products (available upon reaching adulthood).

Eligibility and account details:

Children under the age of 16 residing in the London Boroughs of Ealing, Hounslow, Kingston Upon Thames, Richmond Upon Thames, Wandsworth, and the Borough of Spelthorne, Surrey can open a Junior Saver Account with Thamesbank Credit Union. An existing adult member needs to endorse the account opening. Junior savers can save up to £5,000, giving them plenty of room to grow their savings.

When your child turns 16, their account automatically transitions to a full adult membership, granting them voting rights within the credit union. However, please note that under 18s are not yet eligible for loans.

Ready to get started?

Simply contact us via email at admin@thamesbank.org to set up a Junior Savings Account for your loved one today.

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