Child savings accounts known as Kiddy savings offer a unique opportunity to invest in your child’s future and teach them valuable financial skills that will last a lifetime. With competitive interest rates, parental oversight, and a focus on financial education, these accounts provide a solid foundation for building financial security and independence.
Key Features
Financial Education
Teach your child valuable money management skills and the importance of saving from an early age.
Long-Term Saving
Build a financial foundation for your child's future education, business, or major life milestones.
Competitive Interest Rates
Enjoy attractive interest rates that help your child's savings grow faster.
No Monthly Fees
Keep more money in your child's account with zero monthly maintenance or hidden fees.
Parental Oversight
Maintain control and monitor account activity while gradually teaching your child financial responsibility.
Requirements
To open a Member Savings Account, you will need:
Protection for Your Savings
Credit Unions in Ghana are covered by the Deposit Protection Scheme (Stabilization Fund) which is administered by the CUA. This is a scheme that can provide compensation to depositors if the credit institution is forced to go out of business.
With this, members can rest assured their savings and all interests earned are secured.
Savings Policies
Important policies governing your savings account:
The savings balance of any one member shall not exceed 20% of the total savings of the Union or as determined by the Board of Directors from time to time.
Savings cannot be withdrawn if they are frozen to guarantee a loan. Neither can savings be withdrawn if the member's indebtedness is greater than the member's savings.
Interest on savings shall be determined by the Board of Directors from time to time to ensure competitive returns for our members.