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Posted: Wed Feb 19, 2014 2:51 pm
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Hi

My mum wants to set up an account for DD where she can deposit small sums weekly until she' s 18. She wants to do this in the credit union for no other reason than she goes there weekly without fail so it would be convenient and would not be forgotten. However would she get a better return for her money elsewhere? Or does the convenience of the credit union for her outweigh the potential lower returns?

Any advice appreciated!

D


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Posted: Wed Feb 19, 2014 3:42 pm
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Try bonkers.ie to get the available rates for the banks and then ask the CU if any dividend has been paid in the past few years and how much. Then decide.

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Posted: Wed Feb 19, 2014 3:45 pm
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Last edited by mommy4 on Sun May 04, 2014 5:15 pm, edited 1 time in total.

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Posted: Wed Feb 19, 2014 3:49 pm
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I had bank accounts open for my kids and changed them all to credit union accounts for that same reason. Credit Union is much easier to access (opening times). As far as rate goes I think the credit union might even be a better bet going on my own savings accounts.

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DD2 '08
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Posted: Wed Feb 19, 2014 6:33 pm
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she will need childs birth certs to open credit union
my mam needed my childs recently
lovely idea

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