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Our Children’s savings account is for anyone under the age of 18 wanting an account to save or spend.

The account rewards good savings behaviours and pays bonus interest if no withdrawals are made and if a deposit is made each month.

The account pays interest on up to $50,000 and any amount above this will not earn interest.

No monthly fee

There’s no monthly fees on the Children's Savings Account. Learn more.

Card access available

  • You can access your account using a RediCard (under 16’s)
  • If you’re aged 16 and up, you can access the account using a Visa Debit Card.

Bonus interest

Bonus interest applies each month you make a deposit of any amount and make no withdrawals. Learn more.

Build good savings habits

Our bonus interest helps teach children the benefits of regular saving.

Children's Savings Account interest rates

Product NameInterest RateBonus + Rate
Children's Savings Accounts0.05% pa4.35% pa

Bonus interest applies each month you make a deposit (of any amount) and no withdrawals. The portion of any balance above $50,000 will not receive bonus interest.

Children's Savings Account fees

Fee

Amount

Monthly Fee

There is no monthly fee on the Children's Savings Account.

$0

Start your application now

Existing members

Open a child membership by following these instructions:

  1. Log into your Internet Banking
  2. Select 'Apply for' from the top menu
  3. Click 'Child Membership' from the drop-down menu
  4. Complete our online Child Membership form.

Please note you’ll need a photo/scan of the child’s birth certificate or passport to complete the process.

Not a member?

12-18 year olds

If you’re 12-18 years of age and not already linked to a membership you can join online now. Simply select ‘Just for me’ at the beginning of our online membership form and following the prompts.

Please note you’ll need at least one form of personal identification.

Join now

Not a member?

Parents or guardians

If you’re over 18 years of age and would like to join online and open a child membership at the same time. Simply select ‘Me and a child’ at the beginning of our online membership form and follow the prompts.

Please note you’ll need at least one form of personal identification for you and a photo/scan of the child’s birth certificate or passport to complete the process.

Join now

FREQUENTLY ASKED QUESTIONS
View all Accounts FAQs

The Children's Savings Account is perfect for children under the age of 18 wanting to start regular savings habits. Every month a deposit is made without a withdrawal, bonus interest is paid. The account can be set up by the child themselves, or by you (on behalf of the child), wishing to regularly set funds aside for the future.

Who can apply?

  • This account is for anyone under 18 years of age.
  • A parent or legal guardian over 18 years of age can to open the account on behalf of the child (either online or in person).
  • If you’re 12 years of age or over, you can open a Children’s Savings Account without permission from a parent or legal guardian (if you’re not already linked to a membership).

Existing members

Open a child membership by following these instructions:

  1. Log into your Internet Banking
  2. Select Apply for from the top menu
  3. Click Child Membership from the drop-down menu
  4. Complete our online Child Membership form.

Please note you’ll need a photo/scan of the child’s birth certificate or passport to complete the process.

Not a member? (12-18 year olds)

If you’re 12-18 years of age and not already linked to a membership you can join online now. Simply select ‘Just for me’ at the beginning of our online membership form and following the prompts.

Please note you’ll need a at least one form of personal identification.

Join now

Not a member? (Guardian or parent)

If you’re over 18 years of age and would like to join online and open a child membership at the same time. Simply select ‘Me and a child’ at the beginning of our online membership form and follow the prompts.

Please note you’ll need a at least one form of personal identification for you and a photo/scan of the child’s birth certificate or passport to complete the process.

Join now


You should review the Deposit Accounts and Access Services Terms and Conditions to determine if this product is suitable for your personal needs and situation.

If an account is opened on behalf of a child, the account operator can choose when to provide access to the child at any time up to the age of 18, at which time the child can automatically claim access themselves.

A Mobile Banking App is an application that is downloaded to your smart device via the app store that makes accessing your accounts even easier. Once your Mobile Banking App is setup, you can access your accounts at the touch of a button using a four digit PIN or fingerprint.

Mobile Banking App provides you with access to the most popular Internet Banking features including:

  • Checking your balances and transaction history
  • Transferring money from or to other Credit Union SA members
  • Transferring money to other financial institutions
  • Paying a bill using BPAY®

Internet Banking is accessed via a web browser which can still be accessed on your smart device or desktop computer using your account number and password. For services such as loan redraw, or opening a new savings account, you will need to access Internet Banking from a web browser on a computer or smart device.

Download Mobile Banking App User Guide

Calculators

We’ve got you sorted with a number of handy calculators that will help you work out exactly what you’ll need to do to achieve your financial goals, whether that be borrowing money, making repayments, or creating a savings plan.

Learn more

Flexible banking

Mobile Banking App

Available for both Apple and Android smart devices, the Credit Union SA Mobile Banking App allows you to utilise all the best functionality of our website and Internet Banking services – anytime and anywhere you have an internet connection.

Learn more

Digital Wallet

Digital wallets can be used to pay for purchases via a Credit Union SA Visa Debit Card or Visa Credit Card loaded into your smart device, wherever mobile payment systems are offered.

Learn more

The credit union difference

At Credit Union SA, we offer all the same services as a bank but with one very important difference - our highest priorities are our members and our community.

Learn more

INFORMATION YOU SHOULD KNOW

This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.

The target market for this product can be found within the product’s Target Market Determination (TMD), available at creditunionsa.com.au/legal/terms-and-conditions/target-market-determination

1

We do not charge any fees when using ATMs within Australia. However, some ATM operators may charge a fee to process your transaction or balance enquiry. If withdrawing cash overseas a fee may be charged by the ATM operator and the details will be disclosed at the time of the transaction or enquiry. Other fees and charges may apply.

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Canstar’s Awards uses a methodology unique to Canstar, which compares institutions’ products and services and recognises the providers found to offer outstanding value. Visit canstar.com.au for details of Credit Union SA’s awards.