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Teaching Our Children the Value of Money

It's important to us that our young people learn the value of saving regularly from an early, learning money management skills that will help set them up for adult life. Our junior savings accounts are available to anyone in Cardiff or Vale of Glamorgan. Our junior savers can save with us via a school savings club (with particupating school partners), or directly into their account with us.  Parents who are members with us can even save directy from their salary into their child's junior saver account if they are an employee of a Moneyworks Wales partner.  

The Purpose of Our School Saver Clubs

Our School Saver Clubs have been established with to encourage children to learn to save, with the aims of:

Our Current School Saver Clubs 

In partnership with Cardiff Council and local schools, we now have a number of School Saver Clubs in Cardiff, including: 

In partnership with local schools, we also have a number of School Saver Clubs in Vale of Glamorgan, including: 

We strongly believe in building financial skills at a young age, and are committed to expanding our school savers' clubs to reach as many young people as possible. If you are a pupil or parent at a school that doesn't yet have a savings club, we would encourage you to request that your school considers opening a scheme, and contact us to find out more. 

*Savings club currently suspended due to school Covid restrictions. We are working with all schools to return our clubs as soon as possible. 

 How Does it Work?

We train and work with volunteers from each school, who run a weekly collection point at the school for pupils to deposit money into their savings account.  Volunteers are usually teaching staff, parent volunteers and in some schools, supervised volunteer pupils. The deposits are then credited to the savings account of each pupil. Withdrawals can be made at any time in the same way as any other junior saver account. A variable annual dividend is also paid into savers' accounts each spring.

Junior Accounts

If your child is in a school that doesn't currently offer a school savings club, they can still become a junior saver with us. Interest paid on junior accounts is varaible depending on our financial performance each financial year. The rate set is agreed at our AGM, and over recent years, has typically been 0.5%. 

Please note that loans are not available to our junior members, and juniors do not have voting rights at our AGM. 

Child Trust Funds (CTFs)

The Government stopped issuing new Child Trust Funds in 2010, although we still hold legacy Child Trust Fund (CTF) savings accounts for children. The account is a cash savings account (not a stakeholder account), so the value of the funds will increase over time. Accounts can be topped up by parents, relatives or friends, up to £1,200 each year. The account receives an annual interest rate payment (currently 2%), and savings can't be accessed by the child until they reach the age of 18. 



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Cardiff & Vale Credit Union. Registered office: 4 Working Street, Cardiff, CF10 1GN Telephone 029 2087 2373
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 213467