Savings
Each £1 of savings in the Credit Union equals a share in the Credit Union. The more shares you hold, the greater the return you receive when the annual dividend is being paid.
Each £1 of savings in the Credit Union equals a share in the Credit Union. The more shares you hold, the greater the return you receive when the annual dividend is being paid.
A Dividend is the same as interest on your savings, but because you are a shareholder in the Credit Union, it’s known as a dividend. We normally pay an annual Rebate on Loan Interest.*
*The rate varies from year to year and is dependent on the performance of the Credit Union. Our Members vote at the AGM as to whether they wish to accept the Board of Directors recommended dividend figure.
Savings can be held in either your main account (blue passbook) or an Easi share account (yellow book).
As of 1st December 2016 members are limited to saving £1000 per month. Can I withdraw from my savings?
What About Withdrawals from My Easi Share Account?
You withdraw whenever you want from your Easi account – that’s why it’s perfect if you want to save a bit for a special occasion or even that dreaded rainy day!
Yes – from 31 March 2012, Member’s shares (savings) become eligible for protection under the Financial Services Compensation Scheme (FSCS). Members can be confident that their shares are fully protected under the FSCS.
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