Family Investments and NCT to offer Child Trust Fund
In an extension of their financial offering, Family Investments, the UK's leading Child Trust Fund (CTF) provider, has teamed up with the NCT (National Childbirth Trust), to launch a new Child Trust Fund, the first one provided alongside a charity.
The CTF will be available from Monday 11th January through the NCT website and local branches. Any parent that sets up a Direct Debit into a NCT CTF also receives a voucher for the NCT Shop worth £15. Additionally, for every CTF opened through the NCT, Family Investments will make a financial contribution to the charity.
The NCT is the UK's leading charity on pregnancy, birth and early parenthood. Each year the charity supports thousands of parents through a life-changing experience, offering expert information and trusted practical and emotional support through its 300 local branches, UK wide classes and national helplines.
Family Investments' partnership with the NCT follows the acquisition of the CTF businesses of Abbey and LV= in 2009, as well as the launch of several savings products through a partnership with the Post Office. This has helped Family consolidate their position as a leading provider of savings products for the family.
Family has 30 years experience of helping families save for their future and in November 2009 was the first provider to hold 1 million CTF accounts.
John Reeve, Chief Executive of Family Investments, said: "This partnership is great news for parents who want to support the valuable work of the NCT as well as make a positive difference to their child's financial future.
"The deal reinforces Family Investments' commitment to the CTF, which is the best universal option for parents who want to save for their children.
"Here at Family Investments we share many of the same values as the NCT and are committed to supporting families before and after the birth of their children. This partnership helps us to continue driving take-up and engagement with CTFs amongst new parents.
"In the UK, there are 4.5m CTF accounts, belonging to families from all parts of the country and all walks of life. Thanks to the CTF scheme, an entire generation is growing up with a financial asset regardless of their socio-economic status. More than £22m is being added into Child Trust Fund accounts every month meaning that at this rate, over the lifespan of a CTF, parents, family and friends will have contributed double the amount paid in by the Government.
"This is clear evidence that the CTF is providing a real boost to the development of a ‘savings culture' in the UK."
Belinda Phipps, Chief Executive, NCT, said: "The NCT is very pleased to be in a position to be able to partner with Family Investments. Family Investments is ideal because they have such great experience of providing financial services and products for families. And for every CTF taken out, the NCT receives £35 or £50 if taken out with a direct debit, which is a great contribution to our charity.
"The funds raised from this partnership will go towards supporting our valuable services for parents including: national parenting helplines; local services such as breastfeeding and postnatal drop-ins; subsidised or free antenatal and postnatal classes for vulnerable people; funding for teachers and for the NCT to campaign to improve maternity services."