Child Saver

Get your kids into healthy money habits with this simple, safe account.

Save for your Child’s future

Our Child Saver is the ideal way to save for your child and teach them about managing money. You can open it from the day your child is born, and pay in as much as you want, whenever you can. 

Once they’re old enough, your child can pay in their own birthday or pocket money and make withdrawals. It’s a great way to learn the perks of saving and can encourage good money habits for life. 

Plus, when you save with us, you’re helping other local people have better finances too. 

  • Open an account with just £1 for any child up to 18 years old 
  • Access your money via free transfers to any UK bank account 
  • Your child’s savings are FSCS protected up to £85,000 

Interest rate 

1% AER

To find out how to apply for a Child Saver, get in touch.

Your money allows us to offer fair loans to local people

Flexible savings accounts that allow you to save what you can, when you can

Your savings are protected by the Financial Services Compensation Scheme

We offer a competitive return on your savings

FAQs

You can set up a bank transfer or regular Standing Order from your bank account.

You can find out the details you need to add money to your account by logging in to the member portal. 

To pay in a cheque, you can request a pre-paid envelope by emailing info@gwcu.org.uk. Please make sure you include your name, postcode and member number on the back of the cheque.

If you need to pay in cash, you can request a free Allpay card which can be used to make cash deposits at any Post Office or Paypoint outlet. We cannot accept cash in the post or at our appointment-based services. 

Our savings accounts are not set-up for day-to-day banking, so if you regularly need access to cash then we then we strongly encourage you to open a current account with a bank or a building society. 

Yes. Your eligible deposits with Great Western Credit Union are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Any deposits you hold above the £85,000 limit are unlikely to be covered.

Find out more about this

AER stands for 'Annual Equivalent Rate'. It's the official rate for savings accounts and allows you to easily compare savings accounts. It is designed to show you what you would get over a year if you put money in the account and left it there. 

If you’re aged 18 years or over, you can open an account in trust for a child aged up to 18 years. 

You will need to pass our identity checks, plus we need to see the child's birth certificate. Once we have confirmed your child's ID you will receive your account details.  After receiving this you can pay into your Child Saver account using these details.

 

View more FAQs

I have regularly saved with Great Western Credit Union for over 10 years. It helps me budget and plan ahead for things like birthdays, Christmas and holidays. I like knowing my money is being well looked after, and staying local!

Rachael

Need some help?

Get in touch