Wednesday 10th January 2007
West Brom Building Society has announced its support for the governments Child Trust Funds week.
The society stated that it has "chosen to team up" with Childrens Mutual, which it notes is the only company to specialise in savings accounts for children.
Together, the companies are offering child trust funds in the form of stakeholder accounts as recommended by the government.
Andy Heseltine, West Brom Building Societys product manager for savings and investments, said: "We would urge any parent who has not yet done so to take up the offer of the child trust fund."
"Over the years, the child trust fund builds into a healthy sum, giving the child a good financial footing," he added.
Statistics revealed by West Brom Building Society showed that 18 per cent of parents continue to make monthly deposits of at least £20 into their child trust funds.
Child trust funds receive automatic donations from the government on opening and on the childs seventh birthday, as well as being accessible for deposits from family members and friends.
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