Junior Saver
Give them a
head start
Whether it’s for their first car, further education, travel, or simply a little extra security, saving for a child’s future can make a real difference. Our Junior Saver helps you put money aside for the young people in your life, giving their savings time to grow and helping them get off to a positive financial start.
Benefits of this Savings Account
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Start building their futureSave regularly for your child and help give them a financial head start for the years ahead. The account is managed by a parent or guardian until the child turns 16.
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Flexible monthly savingsStart with a minimum saving of just £5 per month and add more whenever you can. It’s an easy way to build savings steadily over time.
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Earn annual dividendsJunior Saver balances are eligible for annual dividend payments, helping their savings grow over time and making every contribution go a little further.
Core information
The Junior Savers Account helps you save for your child’s future, whether you’re putting money aside for education, their first car or simply giving them a financial head start. Opened and managed by a parent or guardian, the account requires a minimum saving of just £5 per month and is eligible for annual dividend payments on qualifying balances. When the child turns 16, they can take control of the account themselves and manage their savings through our app. It’s a simple way to build healthy savings habits while watching their savings grow over time.
Junior Saver Summary
Dividend Rate |
Regular savings held in the credit union attract a dividend (like interest). The dividend rate is paid based on the credit union’s financial performance and market conditions. It is not agreed in advance, but proposed and voted on at the AGM every January. In 2025, the credit union paid 2%. We always aim to pay as much as we can reasonably afford to. |
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How it works |
The Junior Savers Account is opened and managed by a parent or guardian on behalf of a child. To keep the account active, a minimum of £5 must be saved each month. Savings held in the account are eligible for annual dividend payments, helping your child’s savings grow over time. Until the child turns 16, the account is managed by the parent or guardian. Once they reach 16, they can take control of the account themselves and access it through our app, helping them take the next step in their savings journey. |
Why choose The Money Co-op?
At The Money Co-op, we believe in ethical, people-first financial solutions. Our Junior Savers Account helps you build savings for your child’s future while encouraging positive saving habits from an early age.
With us, you’re not just a saver; you’re a member of a community that supports you and your family every step of the way.
Testimonials
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“Amazing service and real people at the end of the line always happy to help in any way they can, highly recommend!”
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“Everything was so quick and easy. It can all be done in a matter of minutes on the app. Straightforward, quick answers and help. Would recommend to everyone”
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“Very good place for your savings. I love them! Customer service and communication is top notch”
FAQs
We ask all members to save at least £5 per month. If you work for one of our payroll partner employers, you can save by payroll deduction. This is a simple and easy way to build a savings habit – just tell us how much you’d like to save and we’ll take care of the rest. After a couple of pay days, you’ll be used to saving and your balance will soon start to grow.
If you don’t work for a partner employer, you can also save by recurring card payment or direct debit.
Most savings held with the credit union are eligible for a dividend. The dividend rate is based on the credit union’s financial performance and market conditions. It is not agreed in advance but is proposed and voted on by members at the AGM each January. In 2025, the credit union paid a dividend of 2%. We always aim to pay as much as we can reasonably afford to.
Yes. All members have a Regular Savings account, which is your main membership savings account. To maintain your membership, you must save at least £5 per month into this account.
If you have a loan with us, some of the money in your Regular Savings account may be held as security for your loan. You’ll need to keep a minimum balance equal to two months’ loan repayments, plus £5 and the cost of any lottery tickets you hold, where applicable.
You can also open additional savings accounts alongside your Regular Savings account. We offer a range of savings options, including Saver Plus, which pays a guaranteed rate of interest, and our Prize Linked Savings Account, which enters you into monthly prize draws while helping you build your savings.
There are a number of ways to pay money into your account.
If you work for one of our payroll partner employers, you can save by payroll deduction. Simply tell us how much you’d like to save each month and we’ll deduct it directly from your salary, making saving easy and automatic.
If you don’t work for one of our payroll partner employers, you can make regular payments by recurring card payment, direct debit or standing order.
You can also make additional one-off deposits at any time, up to a maximum of £5,000 within a 12-month period. These can be made through the app or by bank transfer. If you’d like to make a bank transfer, please contact us for our bank details and use your member number as the payment reference.
If you’d like to change the amount you save regularly, simply send us a secure message through our app.
How to apply
It’s easy to start saving.
New to The Money Co-op? Simply join online and complete a Junior Savers Account application on behalf of your child.
Already a member? Use our online portal or app to apply for a Junior Savers Account and begin building savings for your child’s future.
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Good to know
Funds held in all your credit union accounts combined are protected under the Financial Services Compensation Scheme up to £120,000. Visit fscs.org.uk for full details.
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