First Savers

  1. A Junior Savings Account can be opened by a parent or guardian for a child under the age of 18 who fulfils the common bond qualification.
  2. This is purely a savings account. A loan shall not be made to anyone under the age of 18 years.
  3. When opening the Junior Savings Account, a guardian shall be identified as the person responsible for the child’s account.
  4. Children under the age of 12 shall be required to have their guardian’s consent to make a withdrawal from their savings account.
  5. Any interest due on the account shall be paid annually into the Junior Savings Account.
  6. At the age of 18, a child is transferred to adult membership of the credit union.