Deposits | JuniorSaver

The JuniorSaver is an account specifically for our junior members too young to operate their own account. This is to be an ‘informal trust’ account and is to be linked to the ‘trustees’ Membership.

Purpose	To encourage saving and to develop a relationship with the credit union. The ‘trustee’ (parent, grandparent or guardian) may wish to save funds for a special purpose (eg university or inheritance). It is not a transactional (access) account.
Interest Rate	Tiered
Suitable for	Infants and primary school aged children up to age 12, but at trustees discretion to 18 years
Benefits	Low cost
	Encourage savings
	Trustee has control of account

Features No Account Keeping Fee's Higher Interest Direct Credits allowed Restricted Access – no cards or electronic access (BPAY®, Pay Anyone, Direct Debits, Phone, SMS or Internet)

Access to funds Branches

Tax File Number:

The adult who owns the account is responsible for any interest earnt on this account
Member should consult tax accountant or ATO for further information

Special conditions:

The membership is opened in the adults name (if the adults is not already a member)
100 PT checked to be performed on adult
It is not necessary to sight a copy of the child’s birth certificate and no copy of child’s birth certificate is to be attached to account application form due to privacy restrictions

Fees:

Refer to Fees, Charges and Transaction Limits schedule for current details.

® Registered to BPay Pty. Ltd. ABN: 69 079 137 518