How much could you be saving for YOUR Junior?

The Harp and Crown Credit Union Junior Accounts are a safe, secure, and straightforward way to put money away for your child’s future.  Joining up is easy and there are no fees or charges.

Who is eligible?

The Junior Account facility is available to qualifying members who wish to open an account for their Son, Daughter, or Grandchild from birth to age 15 years.

Members of the Harp and Crown Credit Union who are within the Common Bond, are eligible to apply for a junior account on their child/grandchild's behalf.

Those aged 16 and over are eligible for a family/adult account.

What could the savings go towards?

Since children do not have regular incomes, we do not ask that they save regularly.  However, saving money for your junior through regular monthly contributions or one-off lump sum lodgements could provide for your child’s future.  Whether it is to pay for university costs or buying their first car. 

How much could you save?

• If you saved as little as £50 a month to your juniors account for 12 months, you would have saved £600.

• If you started this for your junior from age 10, by the time your child is 16, they will have £3,600 saved.  By the time they are 18 they will have £4,800 saved.

• If you start saving for your junior from birth by the time they are 16, they will have £9,600 saved.

• At age 18 they may be eligible for a FIRST TIME LOAN where they can borrow up to 5 x their savings (to buy their first car for instance). So, if you saved from birth until they turned 18, they would have £10,800 saved. This would allow them to borrow up to £54,000. 

Definitely something to consider and start planning your junior's finances now!

Questions?  Get in touch today.  

Email creditunion@harpandcrown.co.uk or phone 028 9068 5198. 

“Save regularly and borrow only what you need.”

The Harp and Crown Credit Union provides safe, secure, flexible finances for the wider police family in Northern Ireland.