Cardiff & Vale Credit Union is now able to offer a Child Trust Fund Account.
The Child Trust Fund (CTF) is a savings account for children and is designed to help your child save from an early age.
Any child born on or after the 1st September 2002 and before 3rd August 2010, living in the UK and registered to receive child benefit will automatically receive a £250 or £500 CTF voucher. Any child born on or after 3rd August up to 1st January 2011 will usually recieve £50. The voucher must be put into a Child Trust Fund and can be topped up by parents, family or friends to a maximum of £1,200 a year. The CTF account is subject to an annual interest rate. The money can only be taken our by the child when they reach the age of 18.
If you have already invested your voucher or it has been invested on your behalf, you can transfer your Child Trust Fund in to Cardiff & Vale Credit Union at any time.
Please note the current changes to the Child Trust Fund account by clicking here: http://www.childtrustfund.gov.uk/templates/Page____1147.aspx
The current interest rate is currently under review. Please contact us for more information.
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