Barbados Workers' Co-operative Credit Union Ltd
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S.A.F.E. Education Account
Your Education is S.A.F.E with Us.

Tertiary education is one of the most important investments a family can make. It is an investment in the future of the Country.

Why Save for College?

Learn more, Earn more

The more you invest in Education, the more money your child could earn in their Careers.

  • The key to making this dream a reality is by starting to save and invest money as soon as possible. But how to begin? Finding money to save for College isn’t always easy.

Spiralling Costs

  • Like any other major investment, it requires careful planning. With increasing University tuitions and increasing cost of books, competitive scholarship requirements, it’s important that families do the best they can.

Start Small

  • Open a SAFE investment Account with a minimum of $50 monthly or $600.00 annually.
  • Our SAFE investment account is a custodial account. This means you can begin investing for your child’s future from birth until your child reaches 16 years of age. At 16 the account can be transferred to the child or set up as a joint account to help you continue to manage your child’s funds while they are studying at home or abroad.



Grow Your Investment Quickly

  • Your SAFE Investment Account will accumulate and pay a return of 3.15% Annually, 1% higher than the current Domestic savings rate.

Estimated Annual Return at 3.15%* From New Born

Monthly Investment 

In 5 Years

In 10 Years

In 16 Years

















*Assuming no withdrawals and annually paid bonus

Bonus Payments

  • At the BWU Co-operative Credit Union Limited we like to reward our Smart Junior savers for good financial habits and that’s why we pay an annual bonus of .25% paid to the account once no withdrawals were made during the year.

Waived Membership costs.

  • All children who open SAFE Investment Accounts will benefit from free Junior Membership

Withdrawals & Fees

  • Parents can make one penalty free withdrawal annually to fund emergency needs related to the education of the child. There will be a charge for any other withdrawal at a fee of $25.00 per withdrawal. If regular withdrawals will be made, consider opening a regular Smart Junior account.


  • Your SAFE Investment Account can be used as a cash security for Education (SMARTPath Tertiary Student Loans) related loans only prior to the Smart Junior attaining the age of 16yrs. This loan will be treated as a Loan within Savings and must be repaid in full prior to the Smart Junior attaining the age of 16yrs. Special conditions will apply.

SAFE accounts can also be used as cash security for the Education Loan for the member (owner of the account) after age 16.

Extend the Benefits

  • SAFE Investment Account benefits may be extended up to age 18. After age 18, the funds must be transferred to a regular adult account.
  • Funds can be used to cover education expenses, or back a loan or at 18 transferred to other high interest bearing term deposit accounts. (Consult with our team to determine which is best for you)

Budding Entrepreneurs

  • Does your child have an entrepreneurial streak? Why not use the SAFE Investment Funds as seed capital for start-up projects. The opportunities are endless.

 Visit or call our offices to open your S.A.F.E investment account today.
Your Child will thank you for it.

Barbados Workers' Co-operative Credit Union Ltd
BWU Co-operative Credit Union Limited
Cnr. Fairchild & Nelson Streets, Bridgetown, St. Michael
Northern Business Centre, Queen Street, Speightstown, St. Peter,
Southern Plaza, Oistins Christ Church, Barbados

Tel: (246) 436-5600
Fax (246) 430-9229/419-3133

Barbados Co-Operative & Credit Union League
Co-Operators General Insurance Co. Ltd

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