Airdrie & Coatbridge Advertiser
Savings can become their hobbies
Credit Unions including Hamilton offer saving accounts from the age of zero to15 for young savers.
Encouraging children and young people to be more financially aware helps give our young people respect, a healthier attitude towards money, savings and also helps them become part of a community organisation.
Junior savers can have more than one account as well; for example a grandparent could open one account and help their grandchild save, keeping control of the account themselves.
And the parents can also hold an account for the same child whilst also maintaining control of that account.
When the child turns 16 the accounts are combined and the child becomes an Adult Saver with full control of the account.
Credit Unions, like other UK financial organisations are members of the Financial Services Compensation Scheme. This provides a safety net should a Bank, Building Society or Credit Union collapse.
The FSCS is there to protect your money.
It is the body which gives you automatic protection up to £85,000 if your Bank, Building Society or Credit Union goes out of business; and you’ll normally get your money back within seven days.
FSCS is funded by the financial services industry, and is free to consumers. So whatever your money is for, it’s good to know it’s protected.
For more information please head over to www. fscs.org.uk. New Tots Class aimed at pre-school kids from 18 months to 5 year old. Classes run on a Thursday mornings from 10 - 10:45 am at Untied Reform Church Hall, South Park Street, Hamilton. £5 per session.