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Kids savings account

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Credit union kids savings account - Community First Credit Union

Kids savings account


At Community First, we have two different kids accounts that are free from transaction and monthly account servicing fees.


Pocket Power: for kids aged 3-11

The Pocket Power Account is a special savings account that has been developed for Members aged 3 to 11 years. With the help of a parent or guardian, junior Members can start their financial education and get in to the habit of saving on a regular basis. This account encourages children to save, while earning interest on their pocket money.

Features and access options

  • Interest calculated daily, paid tri-annually
  • No transaction fees^
  • No account keeping fees^
  • No minimum opening balance
  • Ability to perform direct debits and credits
  • BPAY facility
  • Optional deposit book
  • Ability to make regular deposits and make free withdrawals^
  • Access to coin counting machines via our Financial Services Stores
  • Access via Telephone Banking, Internet Banking and over the counter


Power Up: for kids aged 12-17

The Powerup account is a special savings account designed specifically for 12 to 17 year olds. Watch your savings grow and buy the things you want faster when you deposit your pocket money, wages earned from your first job or other spare cash. You also earn interest on your savings which will help your savings grow.

Saving gives you a financial track record, so it will be easier to get a personal loan after you turn 18 for your first car, overseas holiday or some thing special.


Features and access options

  • Interest calculated daily, paid tri-annually
  • No transaction fees^
  • No account keeping fees^
  • No minimum opening balance
  • ATM card access via a Redicard
  • Ability to perform direct debits and credits
  • BPAY facility
  • Optional deposit book
  • Ability to make regular deposits and make free withdrawals^
  • Ability to deposit pay directly in to the account from part time employment
  • Access to coin counting machines via our Financial Services Stores
  • Access via Telephone Banking, Internet Banking, Mobile Banking and over the counter


Interest rates

Balance
Power Up account
Pocket Power*
$0-$999
0.10% p.a.*
0.50% p.a.*
$1,000-$4,999
0.50% p.a.*
1.50% p.a.*
$5,000-$9,999
0.75% p.a.*
2.00% p.a.*
$10,000-$49,999
1.00% p.a.*
2.50% p.a.*
$50,000+
1.50% p.a.*
3.00% p.a.*

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Our product Conditions of Use are available on this website. You should read and consider these Terms and Conditions when deciding to use any product. ^Withdrawals from non-rediATMs will incur direct charge fees. See our Fees and Charges for more information. *Rates are current as at 20/03/14 and subject to change without notice.
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