Young Adults

An account for young adults 11-15 years

A crucial part of being a young adult is developing the money management skills that prepares you for adulthood. Your relationship with money now will shape your attitudes and habits in the future. Saving will help you generate a greater awareness of your money, giving you ownership and direct experience with managing money and making choices.

Saving today for the dreams of tomorrow

Whether you're a young adult wanting to open a savings account for yourself, or a parent saving for your child's future, this instant access savings account is perfect for saving while being able to access your money whenever you need.

Ideas for Saving

Young Adult
Every time you receive any money, think about splitting it so you spend some and save some. Think about the bigger items in the near future you might want to start saving up for now and even the things you want to do soon that you might need money for:

  • Gigs
  • Socialising with friends
  • Prom
  • Driving lessons
  • Your first car
  • Holiday spending money

Parents
If you give your child pocket money/money for chores, how about giving half of their pocket money to them and saving half in this account? Tell them that you have put money into their savings account if they need it.

HAVE A CHAT WITH US

Got a question about our Young Adults Account? Get in touch. We will always be happy to help.

Eligibility

To be eligible to open this account:

  • You must be 11-15 years old
  • You and/or your parent/guardian must live and/or work in the DL, DH, HG, NE, SR, TS, or YO postcode area

Key features of the Young Adult Savings Account:

Minimum/Maximum Balance £0 - £30,000
Ways to Save
  • Deposit cash or cheques at our main office or your local collection point
  • Standing orders
  • Electronic transfers
Instant Access Withdrawals via cash, cheque, or electronic transfer can be made at our main office
Interest The annual interest rate is agreed by members at our Annual General Meeting. The average interest rate over the last 3 years was 1.33%.
Parental Control The parent/guardian who opens the account will manage this account and can pass control to the child whenever they like.
Online Access View your balance online and request for transfers to be made
Paper Statements Paper statements are available on request
Your money is safe with us All deposits of up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS)

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