One of the most important skills you can teach your kids is how to save and manage their money responsibly. Developing good financial habits at a young age will help them develop skills that will last them a lifetime.
Our new SmartSaver account is designed to teach kids the fundamentals by rewarding them for putting money aside every month to save for the things they want. To get them on their way, simply arrange to pay their pocket money directly to their account.
Here’s how SmartSaver works:
- Deposit minimum $25 per month
- Earn 4.50% pa* (no withdrawals)
- Earn 2.50% pa^ (if withdrawal made)
- Internet Banking access
- ATM access for kids over 12
Each month your child will receive a statement showing their progress. A rediCARD is also available for older kids (over 12) to allow them to take greater responsibility for their saving and spending habits.
So why not open an account for your kids today and start them on the road to smart saving. To apply, simply download an application form.
Are you a member?
If you are not currently a member, you will need to join the Credit Union to open a SmartSaver account. To apply for membership, simply download a membership form.
Seeing is learning, so we’ve also launched Savings Squad, a mini site that lets kids set their savings goals and track their progress as often as they like. Click here to view our fun and interactive mini site.
Available only to members under 18. *Interest rate of 4.50% pa only applies to balances up to $25,000 subject to a minimum monthly deposit of $25 and no withdrawals. ^Standard rate of 2.50% pa applies otherwise. Rates subject to change without notice.
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8 March 2013