Devonlane Credit Union Ltd ,
Quay House,
Ilbert Road,
Kingsbridge TQ7 1DZ
01548 857868 (Answerphone / Fax)
email: office@devonlane.co.uk
Website: www.devonlane.co.uk
First Savers and Junior members
First savers are young people who join Devonlane at school, and make savings
through the collection point there. (Junior members join Devonlane at a Devonlane
collection point).
First Savers can also use the usual Devonlane collection points.
All information about First Savers and their savings is sent to Devonlane, and
Devonlane rules apply. That makes sure that the information is secure and the
money is safe, because Devonlane is authorised and regulated by the Financial
Services Authority (FSA).
All the money for First Savers and Junior Members is held in the Cooperative
bank, and interest that is earned is divided up and given back to the First
Savers and Junior members. Devonlane uses computers and special Computer software
to manage these arrangements.
Why should First Savers save?
Money that is saved can be withdrawn at short notice to pay for unexpected requirements.
(Christmas or Birthday presents?),
Learning how a Credit Union works and how to use money wisely helps your education.
Come and see what happens "behind the screens", because we are like
a bank.
First Savers and Junior members become adult members when they reach 16, and
can then vote at AGMs and help other members. When 18, they can apply for loans
which can help them at College (College fees, books?), or in their first job
(tools, transport?)
Savings is a good habit which should be encouraged, and starting when young
is therefore a good idea.
Devonlane is run by volunteers. Expenses are paid by donations, grants and the interest received from loans.
Money from First savers and Junior members is banked, and the interest is returned, in full, to them.