Everyone benefits from regular saving, it allows us to work towards our financial goals and gives us peace of mind should an emergency arise. Committing yourself to a regular saving pattern can be difficult but at the Credit Union its easy with payroll deduction. Credit Union members can save at an affordable level be it £1 or £100. Small regular amounts soon add up and remember at the Credit Union you are not just another customer, but a co-owning member of an organisation which provides security and protection.
The tables below give examples of how regular savings can soon add up!
| Amount Saved: |
£2 |
£5 |
£10 |
£20 |
£25 |
| Year 1 |
£ 104 |
£ 260 |
£ 520 |
£1,040 |
£1,300 |
| Year 2 |
£ 208 |
£ 520 |
£1,040 |
£2,080 |
£2,600 |
| Year 3 |
£ 312 |
£ 780 |
£1,560 |
£3,120 |
£3,900 |
| Year 4 |
£ 416 |
£1,040 |
£2,080 |
£1,460 |
£5,200 |
| Year 5 |
£ 520 |
£1,300 |
£2,600 |
£5,200 |
£6,500 |
| Amount Saved: |
£10 |
£15 |
£30 |
£40 |
£50 |
| Year 1 |
£ 120 |
£ 180 |
£ 260 |
£ 480 |
£ 600 |
| Year 2 |
£ 240 |
£ 360 |
£ 720 |
£ 960 |
£ 1200 |
| Year 3 |
£ 360 |
£ 540 |
£ 1080 |
£ 1400 |
£ 1800 |
| Year 4 |
£ 480 |
£ 720 |
£ 1440 |
£ 1920 |
£ 2400 |
| Year 5 |
£ 600 |
£ 900 |
£ 1800 |
£ 2400 |
£ 3000 |
Benefits of Saving with the Credit Union
- Save as little or as much as you can afford;
- You will automatically receive free life insurance on your savings;
- Confidentiality is respected at all times;
- No hidden charges or fees on any transactions
- Credit Unions are mutual organisations-members savings are pooled to provide the resources for lending to other members; and
- Depending on reserves, shares are eligible for an annual dividend.
- For example, our members who had savings with us up to September 2008 earned a dividend of 1.5% on their savings
Christmas, Education and Holiday Saving Schemes
The credit union is a great place to save for the important things in life, special sub-accounts can be set up to save for specific needs, for example Christmas, Education or Holidays. Why not pop into our branch at 274 North End Road or call 0207 471 2620 to find out more. |
