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Tel: 020 7561 1786 (Multilingual advisors available)  •  Fax: 020 7272 8192  •  Email:

Wed 16-Aug-2017
NewsHaringey kids get incentive to save
11 May 2017
Haringey kids get incentive to save

Year 6 and 7 school pupils in Haringey are being encouraged to save by Haringey Council and can get £20 for opening a Credit Union account.

Haringey Council is keen to encourage children to learn the savings habit and will pay £20 into a Credit Union Young Savers account for any child in year 6 or year 7 at a school in the borough.

Parents and guardians are then encouraged to help children continue to save regularly, manage their money and budget sensibly.

According to Haringey Council, this scheme is part of a wider commitment to supporting the borough’s families and encouraging responsible money management. The aim is to provide children in Haringey with the opportunity to learn about different financial options and how they will manage their money as they get older.

By opening an account, your child will join up to 2,200 pupils in the borough who are getting into the savings habit early and learning how to avoid risky and high-interest borrowing in later life.

Credit Union Chief Executive Martin Groombridge said: “This is a fantastic way to help school kids in Haringey start saving and managing their money. Too many of us grow up without knowing how to handle our finances properly, which can lead to serious problems with debt and high cost lending in later life, so we would urge everyone whose child qualifies to take advantage of this excellent scheme.”

Click here to open a Young Savers account and to gain your child’s £20 incentive.

Please note that only one payment is available per child and the £20 incentive may not be withdrawn for a period of 12 months from the deposit date. An adult must act as a Trustee for the account and will be the only person able to authorise withdrawals from the account.

Even if your child doesn’t qualify for this incentive, we would still encourage families to look at opening a Credit Union Young Savers account for their children. Get your kids off to a flying start with managing their money – contact us today to find out more.

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