I don't think there was any 'small print' to read. I have asked whether information about these fees was provided. The credit union have avoided answering this question. They say the affiliation fee 'is payable by all members and has not been a problem previously'.
If we were informed about the fee, and it was our mistake to open the account, so be it. But I really don't think primary school children should have to be reading small print - fees should be transparent. If a child comes home excited about opening an account and getting a free pencilcase - its unreasonable to then expect parents to research whether there is a 'catch'. I can't find any reference to this fee on their website. The website says 'Quality Service, No Fees', but apparently this only refers to transaction fees.
I would be curious whether anyone has experience of these CU savings accounts in other schools.
I am careful about fees. Over the years I've moved current accounts and opened many savings accounts with different institutions, and would be mindful of fees, interest rates, T's and C's.