Child Trust Fund

Child Trust Fund

Please note that this account is only available to children who live within the Borough of Merthyr Tydfil, or are children of existing members.

The Child Trust Fund (CTF) is a long-term savings and investment account where your child (and no-one else) can withdraw the money when they turn 18.

What are the benefits?

  • Neither you nor your child will pay tax.
  • A maximum of £1,200 each year can be saved.
  • No set up or closure costs.
  • Unlike "Stakeholder" accounts, the cash value of the account cannot fall.
  • At any time you can move the account to a different provider or change the type of account at not extra costs.
  • It will not affect any benefits or Tax Credits you receive.
  • The current rate of interest is 2% p.a.

The Child Trust Fund scheme was discontinued and replaced with Child ISA's in 2011 by UK Government, but you can still transfer your Child's Trust Fund to the Credit Union and continue savings.

Please contact the office for help and advice on how to transfer an existing Child Trust Fund to us by phone 01685 377888 or email

How can I add to the Child Trust Fund?

You can pay additional savings into a CTF by any of the payment methods we offer: we can even split the amount coming in between various accounts held

Deposit can be made regularly or as one off payments. If you make regular payments to the Credit Union via payroll, benefits or standing order, we can split the amounts between various accounts.

Where is my Child's CTF Fund?

If you are not sure where the Child Trust Fund is being held please visit HMRC website and complete the on-line enquiry form.

For all new CTF accounts opened the young saver will receive a FREE piggy bank!