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).
Interest Rate
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
Higher Interest
Direct Credits allowed
Branch Transactions only
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

Fees:

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

® Registered to BPay Pty. Ltd. ABN: 69 079 137 518
   
NOTE: Western City Credit Union is a division of Community Alliance Credit Union Limited, the product issuer of deposit and payment products. ABN 14 087 650 771, AFSL No: 245576, and BSB 802 395. Please refer to our Financial Services Guide for further information about us. Any advice given on this website is of a general nature only and not based on any consideration of your objectives, financial situation and needs. Please consider the appropriateness of the advice for you before acting.