Friday 9th March 2007
Parents are saving an average of £28 more than the standard monthly amount in child trust funds, figures from Co-operative Bank show.
The financial services provider claims that some 26,000 of its ethical child trust funds have been taken out since the launch of the scheme in 2002.
In statistics published by the bank, parents were seen to deposit a monthly average of £28 by direct debit, in addition to the governments £250 lump sum.
Zack Hocking, head of saving and investments at Co-operative Insurance, said: "We are delighted with the continued success of the child trust fund."
"Initiatives such as this will stimulate childrens interest in saving for the future and encourage them to carry on their savings habit into adulthood," he added.
Meanwhile, Scottish Widows also announced support for the scheme as its own research found that over ten million Britons have asked their parents for help after failing to save during childhood.
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