Young savers award for Harpenden Building Society

HARPENDEN Building Society has won the 2009 Moneyfacts Best Children s Account Provider award for their 18 Club account. A delighted Paul Marsden, director and chief executive explained: Children s savings accounts are one of the most fiercely conteste

HARPENDEN Building Society has won the 2009 Moneyfacts "Best Children's Account Provider" award for their 18 Club account.

A delighted Paul Marsden, director and chief executive explained: "Children's savings accounts are one of the most fiercely contested sectors in the finance world. All UK Banks and Building Societies want children to be introduced to their organisation, as young savers will eventually turn into loyal adult customers. So the stakes for the future of these institutions could not be higher."

"To win this national award proves that savers in Herts, Beds and Bucks can get the best returns for their savings right here on their doorstep" he added.

The award ceremony was held in the City of London in front of an audience of 400 guests representing the elite of the financial services sector. Paul Marsden collected the award from the BBC Breakfast presenter Bill Turnbull. This is the third time in the last 4 years that the Society has won this award outright.

Parents, grandparents, aunts and uncles find the account particularly attractive as the funds cannot be withdrawn from the account until the child reaches the age of 18. This protects the investment and provides them with a useful lump sum when they reach adulthood.

HBS sees the 18 Club account as a key part of its future and it fits perfectly with its mutual status. Their objective is to ensure that they consistently appear in the top 20 for all their savings and investment products and expect as a result to collect more awards in the years ahead.