Young Savers

An account for young savers aged 0-10 years old

We believe it is important to encourage good financial habits from an early age. With our Young Savers account you can help your child build up their savings and develop a positive relationship with money.

Saving for the future

This account is perfect for you to save up for a child’s future or to save for things such as school uniforms, holidays, Christmas, and birthdays.

It’s also perfect if you are looking for an account for your child to start saving their own money.

Young Savers Scheme

We work closely with local primary schools to offer school saving clubs. Your child can deposit money into their Young Savers Account at the school, making it an easy and engaging way for them to save.

School Logos

HAVE A CHAT WITH US

Got a question about our accounts or services? Get in touch. We will always be happy to help you.

Eligibility

To be eligible to open this account:

  • The child must be 0-10 years old
  • The child and/or the parent/guardian must live and/or work in the DL, DH, HG, NE, SR, TS, or YO postcode area

Key features of the Young Savers 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 the account
Savings Passbook Our Young Savers Account comes with a Savings Passbook which is an excellent tool to teach good saving habits and help your child can see how their savings are growing.
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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