Savings

The credit union promotes thrift among its members and regular saving because the accumulation of savings create a pool of funds for members to borrow at fair and reasonable rates of interest.

• Senior Accounts
• Corporate accounts
• Junior Accounts
• Local Schools Savings Scheme
• Dividends on Savings
• Benevolent Scheme
• Regular savings will build up a substantial share capital for you and security for the future.
• Your savings earn dividends which are paid annually.
• Your savings are guaranteed by the FSCS.
• As of December 2018, the limit on shares is £15,000 for adult accounts.
• The maximum share limit on junior accounts is £10,000.
• The maximum amount of shares permitted each month is £100 for junior accounts.

Regular Savings

Here is how a regular Credit Union savings plan can help you to build up a substantial savings account.

This table does not include dividends. Dividends earned on your savings increase the above totals.

Withdrawal of savings

You may withdraw your credit union savings upon request. Attached shares may not be withdrawn. A separate savings account maybe opened and linked to your main account.

Members are encouraged to consider taking a loan to meet their needs, thereby keeping their savings (and the insurance they earn) intact.