Childrens Accounts - Holywood Credit Union

Encourage an early savings habit in your children or grandchildren by opening a Holywood Credit Union Junior Savings Account.

We all want to give our children and grandchildren the best possible start in life. By opening a savings account with your local credit union and adding to it regularly you could help them buy their first car, pay university fees, or even put a deposit on their first house.

Children under 16 living within the ’BT18’ postcode area, or whose parents, guardians or grandparents work in the ‘BT18’ postcode can join the credit union and have money paid into their accounts directly over the counter or by standing order. Children earn interest on their deposits and will receive a great free gift of a piggy bank when their account is opened.

Account Features:

Minimum & Maximum Limits

The maximum amount that may be held on deposit by any one individual is £10000. All money received must be held in trust.


An application to withdraw must be signed by the minor and signing parent or guardian but if the minor is unable to write,{and is under the age of seven}, application to withdraw may be made to the board of directors by the signing parent or guardian. If the application is made solely signed by the signing parent or guardian it shall be within the discretion of the board of directors to determine whether payment should be made. However, if the board of directors is satisfied the money required is for urgent need of the minor and cannot be met from another resource the board should exercise its discretion in favour of payment out.

If in the death of a signing parent or guardian or in other exceptional circumstances the board of directors may at their absolute discretion permit withdrawal solely to the minor.


Two months before a minor reaches the age of 16 written notice shall be served upon the minor and his signing parent or guardian informing him that on attaining 16 he should either withdraw the balance on the account or join the credit union. If the minor takes no action he shall be deemed to have applied for membership of the credit union, and after deduction of the normal fee on joining, currently £1, the balance shall be transferred to a share account holding in his name.