We offer a wide range of saving accounts.

Savings as shares in a Credit Union are a better way to save. You are not just another customer with the Credit Union but an active member of a highly successful financial cooperative. And once you become a member by paying a £1 membership fee, you have a share in the ownership of the Credit Union.

By saving on a regular basis, you build up a pot of money. You can save from as little as £1 per week to whatever maximum you choose. The maximum savings that any member can hold in the Credit Union is £10,000.

Remember the secret is to save regularly – members are often surprised by how much and how quickly it mounts up!

membership

Benefits of Membership

  • Flexible & convenient loans
  • Attractive dividend on savings
  • Quality service with no hidden fee
  • Save by Standing Order or by visiting the office
  • Online access to balance
  • All covered by Financial Service Compensation Scheme

Main Saving Account

The savings in this account may be used as collateral for a loan if the member wants to borrow.

Sub Saving Account

It is possible to have more than one savings account. You may want an account for Christmas or holidays or for car repairs etc. Sub account savings are not used as collateral for loans

Junior Saving Account

You can open an account for any junior member of your family

School Saving Account

Some schools in our Common Bond area participate in the School Savings Scheme. In some schools, the volunteers collect children’s savings on a weekly basis. Some schools even have their own junior tellers, who record savings deposits and arrange for an adult volunteer to bank the collections.

FAQs

How do I withdraw my savings?

Withdrawing your money is a simple process and there is no hidden charge. Payment is made to you either in cash, by cheque or by BACS into your nominated bank account.

What happens to my money?

All money saved by Credit Union members is pooled together. This pool of money is then used to give members low-cost loans should they wish to borrow.

How safe is my savings?

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank/building society/credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the bank/building society/credit union, including their share of any joint account, and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call 0800 678 1100 or 0207 741 4100.

Applications Forms