Junior Accounts

The New Central Credit Union have over a dozen school banks across Coventry and Warwickshire run by volunteers within the schools and other local volunteers.

Junior Savings account are available to young people of all ages. Membership is free for everyone under 18.

Junior savings accounts can receive deposits and make withdrawals in a variety of ways, just like an adult account.

Our junior savings account can be used by parents, grandparents and guardians to help children understand the importance of savings for treats, school trips, holiday activities and larger purchases.

We are also able to lock the account so only the adult setting up the account can authorise withdrawals.

If a young person is related to an existing credit union member we can accept the following:

  • Birth Certificate
  • NHS Medical Card
  • Child Benefit Letter
  • School Report
  • Letter from school

MA (the Money Advice Service) video below shows the importance of showing children how money works on a day-to-day basis, and that we pay for things in all different ways.

If you follow these tips your children will understand what money is and they will have seen how it works day to day and, really importantly, when it has gone, it has gone.  This is setting them on the path to having a really positive and confident relationship with using money themselves.

To open an Junior Account, please download the application form and submit to New Central Credit Union Ltd., 41 Smithford Way, Coventry CV1 1FY. Tel: 02476 633456, email – info@newcentralcu.co.uk