Junior Saver

Join the Federal Insurers  Credit Union and arrange on your Child Benefit to be paid into your account. Borrow as much as $3500. Save as you repay . No hidden fees, costs or compensation consequences. These loans are charged at a charge of three% in line with month (APR 42.6%).

We all know that it’s important to save and the earlier you start the better. Our Junior Saver is for our Junior Members. It helps encourage young people to save and to learn how to manage their money.

This account is available for people under 18.

The account may be operated in the following ways:

• A junior member may be allowed by a parent to operate their own account. The parent may set a limit on the maximum amount that can be withdrawn.
• Parents may open an account for their children and agree on the age when the child will take control of the account.
• At the age of 16, the account will be transferred to adult membership status. However, members will not be able to apply for loans or serve on the Board or any Committees until the age of 18.

Young people are able to make deposits through:

• Local schools participating in the school scheme
• Credit Union offices
• Parents – via direct debit, standing order, payroll deduction or child benefits