Who can join?

Anyone can open a credit union account – pupils, staff, parents, or siblings.

Children enrolled in the school do not require identification to open an account (as the school can provide the necessary proof) but any adult savers (staff or parents) or any children/siblings not currently in the school will need to provide identification, in the same way as you would with a normal bank account.

Is my money safe?

Yes. As with any bank account, your money is protected by the Financial Services Compensation Scheme (FSCS).

Bridgend LifeSavers Credit Union is also authorised and regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

Will the account earn interest?

When you open an account with a credit union, you become a member of an organisation owned by and run for the members. As a not-for-profit organisation, any profits are passed back to the members as dividends. Profits are also used to support the community (with schemes like School Savings) and to grow the business.

How much does my child have to save?

There is no minimum (or maximum) amount, and your child doesn’t have to pay in every week. Every penny adds up!

Can people transfer money online?

Yes. You can arrange standing orders or pay one-off bank transfers into any credit union accounts. For more information, please contact the branch or submit a standing order form.

Do you accept cheques?

Yes. Although, as a co-operative, cheques must be payable to Bridgend LifeSavers Credit Union, not the individual. The money will be allocated to the account through their unique membership number.

What about during the school holidays?

Many people find School Savings collections a great way for their children to get into the habit of saving money regularly. During the school holidays, while the collections won’t be running, our branches will be open for any queries, deposits or withdrawals.

How do we withdraw money from the account?

We have always felt that school savings clubs should encourage children to save money, which is why most of our schools only advertise withdrawals twice a year – once before Christmas and once before the summer holidays. This doesn’t mean you can’t access your money at other times. You can request a withdrawal by following this link below.

How can my school get involved?

If your school is interested in launching a school savings club, we would be delighted to arrange a meeting to discuss the project in more detail.

What do I need to open an account?

Joining the School Savers Club couldn’t be easier. If your child is enrolled in one of our partner schools, you just need to fill in a membership form and they can start saving straight away. Your child will receive a membership number, a piggy bank, and a paying-in book. You do not need to provide identification for your child as this is provided by the school.

Is there a branch we can visit?

Yes. Our Head Office is in Sarn, but we also have a branch on Station Hill, Bridgend. For more information please click below.

Does my school run a School Savings Club?

We currently work with the following schools but are always looking for opportunities to work with more schools.

  • Archdeacon John Lewis Primary
  • The Bridge PRU
  • Corneli Primary
  • Nantymoel Primary
  • Ogmore Vale Primary
  • Oldcastle Primary
  • Pencoed Primary
  • Pen Y Fai Primary
  • St. Mary’s Catholic Primary
  • St. Robert’s Catholic Primary
  • Ysgol Y Ferch O’r Sger
What day does my school run their collection?
  • Archdeacon John Lewis Primary – Monday
  • The Bridge PRU – Thursday
  • Corneli Primary – Wednesday
  • Nantymoel Primary – Wednesday
  • Ogmore Vale Primary – Wednesday
  • Oldcastle Primary – Wednesday
  • Pencoed Primary – Monday
  • Pen Y Fai Primary – Friday
  • St. Mary’s Catholic Primary – Wednesday
  • St. Robert’s Catholic Primary – Monday
  • Ysgol Y Ferch O’r Sger – Thursday
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