Standard Shares Account
This is the member's main account and has the following benefits:
An annual dividend is payable on this account. The recommended Dividend for the year will be an excellent 2.5%.
You can use these shares to borrow with and can apply for up to five times shares value using the shares
as collateral. A single lump sum of up to £5,000 can be paid into this account.
When there is no loan balance secured by your shares, one weeks notice is normally asked for up to £1,000 withdrawal and two weeks for over £1,000.
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Gold Saver Shares AccountThis additional account is designed for members to save longer term, An annual Dividend is payable on
this higher dividend account. The recommended Dividend for the year will be a superb 4%
30 days notice is required for all share withdrawals. No lump sums can be paid into this account, but deposits of up to £200 per month can be paid in to one of our Higher Dividend Accounts provided there is an active Standard Account with at least £10 per week being deposited.
Details available from office
Urgent withdrawal can be made on up to two occasions per year with only the "Saver" account" notice period being given however the lower "Standard Dividend" would then be due for that amount.
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Platinum Saver Shares Account
This additional 60-day notice account is designed for member’s longer-term savings. The recommended Dividend for the year will be a brilliant 5%. No lump sums can be paid into this account, but deposits of up to £200 per month can be paid in to one of our Higher Dividend Accounts, provided there is an active Standard Account with at least £10 per week being deposited.
Details available from office
Urgent withdrawal can be made on up to two occasions per year with a lesser notice period being given, in which case the appropriate lower dividend would then be due, but only for the amount withdrawn- not your whole balance, this would remain at Platinum rate, how good is that?
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NOTEDividends on Shares can increase or decrease annually according to distribution of annual profits. The Board will recommend the Dividend to Members at their Annual General Meeting on the third Tuesday in January of each year. The agreed dividend will then be paid to all who are Members at the date of the AGM.
* Please note that a credit union Dividend is paid gross of Tax, as normal, you should ensure you meet any taxation responsibilities that may be due.