Junior Saver Account

Building a
Secure Future

Start a Junior Saver today and secure the future for a child you care for.

Financial Services Compensation Scheme logo

Serve and Protect: Your go-to choice for Junior savings

Parents or grandparents who want to help their kids and grandkids secure their future will find the help they need at Serve and Protect . We provide a Junior Account that you can maintain for your little one so that they can have a secure start in life.

Why choose our Junior Saver account?

A Junior Saver account makes it easy for you to save for a young person in your life.

Start with as little as £10

The hardest thing about saving is starting the habit. So help give your loved ones a head start by saving for their future.

Give a sound start

Whether you’re saving for university, a first car, or just a nest egg for the future, give your little ones the best start.

Annual dividend

Remember, every year there will be a dividend added to the balance to help your savings grow, so that can really make a big difference over several years.

Free life cover

If the worst should happen while you are a member of Serve and Protect, we’ll match the first £25,000 saved and your family will receive the total amount.

How our Junior Saver account works

Starting an account for your child is as easy as starting one for yourself

Complete application

Open a Junior Saver by completing our application at the bottom of this page. Not a Serve and Protect member yet? No worries! You can still apply for an account. Our member services team will guide you through our joining application.

Fund the account

Set a regular amount to come out of your wages and straight into the account. You can change this at any time by giving us a call.

Monitor the balance

You can contact us to find out the latest balance of your Junior Saver as it grows and choose to up the payments if you want to grow that amount.

Savings Calculator

Do you have a savings goal in mind? Perhaps you’re envisioning a down payment for your dream home or an unforgettable getaway. Whatever it may be, our savings calculator can help you determine the contribution needed to achieve your goal. Let’s make your dreams a reality!
6 months savings
1 years savings
3 years savings

Frequently Asked Questions

To build savings regularly, you can make monthly contributions. You have the flexibility to start with as little as £10 per month and adjust your deduction amount anytime by contacting our team.

Additionally, you can deposit extra lump sums whenever it suits you, with a maximum deposit limit of £20,000. Once you reach this limit, you can still contribute £10 per month.

We take great pride in rewarding our valued members with a savings return in the form of an annual dividend. For the upcoming financial year 2022-23, we anticipate a generous 3.50% return on our Junior Saver. 

It’s important to note that our annual dividend is determined based on the surplus profits of the credit union, and it is proposed by the Board to our members at our Annual General Meeting each year.

Absolutely! You have the flexibility to withdraw your money whenever you need it. You’ll just need to give us a call and we’ll assist you in withdrawing the desired amount.

Unfortunately, at this time, managing your Junior Saver account is not available through our online banking or mobile app.

Depending on the number of children or grandchildren you want to save for, feel free to open as many Junior Saver accounts as you need. However, please note that only one account can be opened per child or grandchild.

You might need to pay tax on the interest or dividend you receive from your savings accounts with us. This will depend on your personal financial situation. For more information, please visit https://www.gov.uk/apply-tax-free-interest-on-savings

Rest assured, all our savings products are protected by the UK’s Financial Services Compensation Scheme (FSCS), guaranteeing your savings up to £85,000. Any deposits exceeding the current limit are not covered. For additional details about the FSCS, please visit www.fscs.org.uk

To open a Junior Saver account, you’ll need to become a member of our credit union and save a minimum of £10 per month in our a href=’#” class=”https://serveandprotectcu.co.uk/save/regular-saver-accounts/”> Regular Saver account.

To get a Junior Saver account, simply fill out the form below. We’re here to help you every step of the way!

Junior members must reside at the same address as an existing member. After you’ve completed our Junior Saver application, our team will kindly request a copy of their passport or birth certificate to open the account.

All our savings accounts include free life cover up to £25,000 (up to the age of 65). This means, should the worst happen, your savings could be doubled up to the first £25,000, allowing you to support your family when they need it most. 

The free life cover benefit is subject to the terms and conditions of Serve and Protect Loan Protection and Life Savings policies, arranged by CMGL and underwritten by Covea Life Ltd. Note that this protection is a benefit of membership provided at no extra cost to the member. The Credit Union is the policyholder for Loan Protection and Life Savings.

How to apply?

If you are already a member, you can request a Junior Saver account for your child or grandchild by completing our short form below.

*The ‘Junior’ must live at the same address as an existing member and a copy of their passport or birth certificate will be required.

Archived Rates

Below, you’ll find an archive of the Junior Saver annual dividends we’ve paid, allowing you to easily track what was provided and when.

Financial yearEffective periodAnnual dividend
2022/202301.10.2022 - 30.09.20234.50%
2021/202201.10.2021 - 30.09.20222.50%
2020/202101.10.2020 - 30.09.20211.00%
2019/202001.10.2019 - 30.09.20201.20%
2018/201901.10.2018 - 30.09.20191.00%

Other Products

Find out more about our other products and how they can help