Junior Accounts

We pick up good habits early on in life

Here at Bradford District Credit Union we believe that basic financial education from an early age is one of the most important things we can teach our children.

Setting up a savings account in your child’s name is a good way to teach them the importance of money management and saving for the future, a habit that we hope will last a lifetime. It also helps you to save up a nest egg for your child’s future, giving them the best start in adult life.

Simply complete the Junior Savers application form and take or post it to the Credit Union office in City Hall Bradford, BD1 1HY together with the appropriate identity. You can also email it to us on credit.union@bdcu.co.uk

Minor accounts have a maximum deposit limit of £10,000

Who can join?

Junior accounts are for children from birth to their seventeenth birthday, Once your child reaches the age of seventeen their junior membership will automatically cease and be changed to adult membership.

Please note that Junior Members cannot apply for loans. Members need to be at least eighteen years of age in order to apply for a loan.

To join please download and fill in the form below and email it to us on credit.union@bdcu.co.uk

BDCU Junior Application Form

Who can save?

Parents, guardians and relatives can contribute to the Junior Saver account as well as the Junior Saver. You can set up a regular bank transfer to do this. Please contact us for further information on credit.union@bdcu.co.uk

Please note that you must live in Bradford, Kirklees or Craven areas to qualify.

How much interest will I receive?

We do not pay interest but an annual dividend may be paid to members in respect of their savings

After operating costs Credit Unions must set aside reserves out of their surplus to cover tax and other contingencies. The remainder of any surplus is given back to members as a dividend. The members of the Board of Directors recommend the amount of the dividend which is subject to approval by members at the annual AGM.

Junior Savers will receive the same annual dividend as other Credit Union members.

How much can I save?

You can save as little as you want but there is a maximum savings limit which is reviewed annually, this figure is subject to a maximum limit of 1.5% of the Credit Unions total shares. Please contact the Office for further details.

What charges are there?

There are no charges on our Junior Savers accounts.