Junior Savers' Accounts
Our Junior Saver's Account offers exceptional value. Because we wish to encourage young people to save, we have, until further notice, set the interest rates on these accounts at 5% per annum on the first £500 of savings, and 3% per annum on any balance over this figure.
A Junior Saver's Account can be opened by an adult member of North London Credit Union on behalf of a close relative aged 16 or under.
To open a Junior Saver's Account please download, print and complete this form
When completing the form, please:
- Enter full details of the Junior Saver in section 1.
- Enter your name in section 2, together with your membership number if you know it.
- Enter the age at which you want the Junior Saver to be fully responsible for the account in section 3. The age entered must be between 12 and 16, and is the age that ownership of the balance of the account passes to the Junior Saver.
If you wish to contribute a regular amount to this account please specify where indicated.
If the Junior Saver is old enough to do so, he or she may supply a specimen signature in section 4, although we will not act on it until ownership of the account passes to the young person.
When the form is completed, please return it to us with a copy of the Junior Saver's birth certificate or passport, and a direct debit or standing order instruction if applicable.
Most importantly, like all money deposited with
us, our Junior Savers' accounts are completely
safe. They are insured with the Financial Services Compensation Scheme (an industry
scheme underwritten by the government to which we contribute). Find out more by clicking THIS LINK.
Junior Savings Clubs
North London Credit Union is keen to work with schools in Enfield to establish Junior Savings Clubs, through which its Junior Savers' Accounts can be promoted to young people. If you wish are a teacher in a school in Enfield and are interested in helping, please contact us on 020 8366 8244.