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Chester Credit Union officially launched the young savers account (Safekeepers) in March 2007 which is designed for junior members. | Download Application |  | | |
By encouraging juniors to save regularly we are promoting a positive approach to putting money aside for the future, and encouraging them to understand the value of money. Safekeepers is intended not only as a safe means of saving, but more importantly as a mechanism to educate and develop greater financial literacy skills for juniors.
Throughout this year we will be holding competitions and activities for junior savers to get involved in – please contact us for more information.  Credit Unions are about community involvement so Chester Credit Union is keen to work in collaboration with local schools to promote the benefits of saving regularly. If you know of a school that may be interested in getting involved in the young savers scheme please do not hesitate to contact us.
Future plans include developing mini credit unions in schools so as pupils can get involved with setting up and running such a project to teach them vital business and transferable skills.
We have included some frequently asked questions but if you have any which are not answered here please feel free to contact us FAQ’s on CCU’s Safekeepers accountWhat is a Credit Union?A credit Union is a not-for-profit financial co-operative whose membership is open to anyone who qualifies under the registere d rules and the common bond of either working or living in Chester.
Credit Unions are run by members, for the members, and offer a convenient savings and low interest loans service. Savings are kept and used within the community, giving us more power over the money in our pockets and more choices over where we spend it. This benefits local businesses and helps to strengthen the local economy in a sustainable way. How old does my child have to be to open a Safekeepers account?
Your child can have a savings account opened for them from the age of newly born to 16.
How does my child join?
Simply complete the Safekeepers application form, and return it either to your nearest collection point or send it to our office. Alternatively if your child’s school is signed up with our scheme – you can take it directly to the school.
How are deposits made?
Savers can pay in at the regular weekly collections held at the school if signed up to our scheme.
Deposits can also be made at Chester Credit Union’s office, or your nearest collection point when the school is closed. For people who want to ensure regular payments, Chester Credit Union is able to accept payments via standing order. How much do they have to save?Young savers can save as little or as much as they want, however, we recommend that children take no more to school than their parents are comfortable to allow. Do young savers get interest on their savings?
Yes they do, although they are not full members they do get interest on their savings.
Can my child withdraw their savings when they want?
Yes, but there may be a short waiting period to allow us to process the request
What will my child gain from joining?
• Interest on all money paid in
• An ability to appreciate the benefit of saving
• A practical basic understanding regarding financial transactions and improvement in numeracy
• Understanding of involvement within the wider community
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