Accounts for Members up to the age of 16 can be opened by the minor, parent or guardian
Junior members must also satisfy our common bond requirements, they must either live or go to school in our common bond, which comprises of Ardee, Collon, Louth Village and Dromiskin (Darver).
All you need is:
For the child;
- Birth Cert or Passport
- Proof of PPSN and
For the parent;
- Proof of ID (Passport. drivers licence) and
- Proof of address – such as a recent utility bill or bank statement
Only parents or legal guardians can open the account.
Please note that children over the age of 7 are required to sign their membership forms with their parent/guardian at the time the account is opened
No fee applies.
Savings Limits and Restrictions
Juvenile accounts for members under 16 years of age have a maximum savings value of €25,000 and a monthly lodgement limit of €1,000.
Top tips for parents to help children develop smart money habits
- Pocket money is a good way to help children learn to make their own decisions and live with them. How much to give will depend on age, maturity, responsibilities and the family’s financial situation.
- Give the pocket money in small denominations to encourage children to put some aside as savings.
- Consider linking pocket money to chores. Pocket money must be earned, the same way Mum or Dad earn money by going to work.
- Give advice to children but let them make their own spending decisions and mistakes. Don’t scold for mistakes; instead help them to see the error of their ways and learn for the future.
- Play simple counting games with notes and coins with young children.
- Consider rewarding children for regular saving (perhaps topping up savings).
- Make saving interesting. Develop a savings plan or calendar to show when and how the goal can be reached or help children to paint a picture of what they’re saving for.
- Let children learn that they have to save up to buy something they really want. Don’t let them get into the habit of running to you every time they need more money.
- Children love stories from their parents’ experiences. Talk to them about when and how you started saving, whether it was wisely invested and how it grew and anything you might have learned from the experience.
- Explain how interest works. When you put money in a savings account, these savings earn more money at the end of the year.
- Give children a piggy bank to help them save or, better still, bring them down to the local credit union to open a savings account.
MINI CREDIT UNIONS
Ardee Credit Union and national schools in our area work together to actively encourage our young people to save a little and often.
Mini Credit Union schemes operate in the following National Schools in our area.
- Ardee Educate Together
- Ballapousta National School
- Collon National School
- Heronstown National School
- Louth National School
- Monastery Boys National School
- Newtown National School
- Scoil Dairbhre, Darver
- Scoil Mhuire Na Trocaire National School
- St Peter’s National School, Dromiskin
- St Peter and Pauls National School
- Tallanstown National School