Junior savings

Children can become members as soon as they are born. After that, hopefully they will appreciate the benefits of Castle and Crystal membestart saving from an early agership for life.

Members remain juniors until they are 16 and receive interest on their savings but cannot borrow until they are 18. Normally, a trustee is added to the account to manage it on the childs behalf until they reach their 16th birthday. After this point, the account is converted to an adult account and the member is free to manage their savings independently.

A dividend is paid on all junior savings accounts.

Adult savers have the option to save for children on their behalf. For example, we can take a deduction from your payroll or benefits and split it into various accounts held at Castle and Crystal.

In order to open a junior savings account, a junior application form needs to be completed and submitted with a passport, birth certificate or medical card.

Castle and Crystal understand how important it is to educate children about the responsibilities associated with money management. This is why we work with local schools to encourage savings amongst their pupils.

We currently have collection points in place with Gig Mill Primary School, Stourbridge & Christ Church Primary School, Coseley.

Money is collected by teachers and staff on a regular basis and deposited into a Junior savings account with Castle and Crystal.

Please contact us if you are interested in setting up a collection point for your school.

Interested in Junior savings? You can download an application form here.