AS we step into 2025, Rita Curley, Senior Cashier at SAG Credit Union, explains how opening a Juvenile Account for your child can set them up for success.
As parents we’re always wanting to help our children, whether that be at school or through extracurricular activities, but one of the most important gifts that we can give them is confidence managing money.
Although this can seem a bit overwhelming, it doesn’t have to be, SAG Credit Union can help your child develop a healthy relationship with money. It all starts with opening a Juvenile Account with us.
More than a Piggy Bank
Opening up a Juvenile Account for your child is a great way to teach them about planning, budgeting and money management.
Unlike traditional bank accounts, our Juvenile Accounts feature:
• Zero monthly maintenance fees
• Competitive interest rates and the potential to earn an annual dividend that actually helps their money grow
• No minimum balance requirements
When your child opens an account with us they immediately become a valued SAG Credit Union member. This means our staff will give them personalised financial guidance as they grow.
Ways to save
Lodging money into your child’s account is easy. You can do this by:
• Setting up a direct debit
• Calling us on 028 9061 5669 and making a card payment
• Popping into one of our offices
An easy way to save regularly for your son or daughter is to arrange for your Child Benefit, or a small portion of it, to be paid into their Juvenile Account.
Opening an account
A Juvenile Account can be opened by anyone between the ages of 0 and 15 years.
You should fill out an application form and visit one of our offices to sign the form. To speed up the process please also bring:
• Birth Cert/ Passport for child – i.e. proof of I.D.
• Photo ID for the child’s parent/guardian (Current Passport/ Drivers Licence)
If the child’s parent or guardian is not SAG Credit Union member we will also need their proof of address (Bank Statement or Utility Bill e.g., Electricity/ Gas/ Water/ Phone dated within last 6 months).
If your child is over 7 they must be present for the opening of the account.
Little Savers Become Big Achievers
By establishing a savings habit early, children develop a sense of financial responsibility and goal-setting that will serve them throughout their lives. Whether it's saving for a first car, future education, or understanding the basics of budgeting, these early experiences build confidence and financial resilience.
This year make a resolution that’s practical and easy to stick to. Open a Juvenile Account with us today.
