Join our growing number of young savers and get the savings habit now ... Having an account with us will also help you to develop an understanding of personal finance and how to manage your money.
How to join
Under 11?
If you are under 11 a parent or guardian has to sign a form for you to agree to you having a Cornish Community Banking Young Saver Account. We would need to see two items which prove who your parent/guardian is and where they live. These could be an electricity bill, a passport, a driving license or something official.
Between 11 and 16?
When you are 11 or older you can open an account on your own. This means you will have to show us your own birth certificate and passport and a medical card or library card showing your name and where you live.
Between 16 and 18?
You can become a member of Cornish Community Banking, rather than a Young Saver.
However, you must wait until you are 18 until you can do some things - such as taking part in the running of Cornish Community Banking or applying for a loan.
What will you get?
You will be given a savings book. Each time you put money into, or take money out of, your Cornish Community Banking account, we will write down how much you have saved so that you always know how much you have in your account.
You will also be paid bonus sums of money. Until you are 16 these sums are called “interest”. Each year we will pay you 2%* of what you have saved, one annual instalment.
After you are 16 you get a yearly share of the profit that comes back from our business in the community which is called a “dividend”.
Taking out your money ...
Under 11 you will need permission from your parent/guardian. When you are 11 or older you can take out up to £50 of your savings in one go, just by calling in to one of our branches.
*Annual Equivalent Rate (AER) 2% correct at October 2010