Flexi Saver

A flexible account allowing you to deposit lump sums up a maximum balance of £20,000, with the option to withdraw at anytime.

How does it work?

Deposit Lump Sums

Make one off deposits or save every month, up to a maximum balance of £20,000.

Withdraw Anytime

You can withdraw your funds at anytime online or by calling us.

Annual Dividend

Receive a return on your savings in the form of an annual dividend.

Lots of great benefits

Deposit Lump Sums
You can open a Flexi Saver with a maximum deposit of £20,000.
Salary Deduction
Simple saving through salary deduction (where available) or direct debit.
Flexible Account
If you are saving every month straight from your pay or direct debit, you can change your monthly deduction amount at anytime by telephone or email.
Free Life Cover
Life cover up to £25,000 at no extra cost up to age 65 (conditions apply).
Annual Dividend
Receive a return in the form of an annual dividend.
Withdraw Anytime
You can withdraw funds (without penalty) via our online banking, mobile app or by calling us.

People often ask us

How much can I deposit?

You can open a Flexi Saver account with a maximum deposit of £20,000. Lump sums can made at anytime up to a maximum balance of £20,000 on the account.

Alternatively, you can also save every monthly straight from your pay or direct debit. You can increase or decrease your monthly savings amount by post, email, or by calling our office on 0121 700 1222.

Can I save from my pay?

If you work for one of our payroll partners, you will be able to save with repayments straight from your salary, or (where relevant) your pension. To view our full list of payroll partners click here.

Can’t find your employer?
- That’s okay, you can still save with us through direct debit (if you are eligible).
- You can also refer your employer for payroll deduction by completing our short form.

Can I withdraw my money?

Yes, you can withdraw your money at anytime. Simply withdraw the amount you want using your online banking, mobile app or by telephone.

How do I manage my account?

You can access your savings through our online banking. We also have a mobile app to allow you to manage your money on-the-go.

How secure is my money?

All of our savings products are covered by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Meaning your savings are covered up to £85,000. Any deposits you hold above the current limit are not covered.

For more information about the FSCS, visit www.fscs.org.uk

What savings return will I get?

You may receive a return on your savings in the form of an annual dividend. Our annual dividend is based on the surplus profits of the credit union, and is proposed by the Board to the membership at our Annual General Meeting each year.

An annual dividend is paid gross, directly into your account after the AGM. Since no tax is deducted, it is your responsibility to disclose the dividend to the HMRC.

Will my savings be tax-free?

Your savings with the credit union are not tax-free. If you are saving from your pay, salary deductions will be made from your net pay after taxes have been deducted.

How do I open an account?

To open a Flexi Saver account, you must be a member of the credit union and save a minimum of £10 per month into our Regular Saver account.

Existing members can request a Flexi Saver account by calling us on 0121 700 1222 or by emailing info@serveandprotectcu.co.uk.

save_regular-saver_fscs (1)

Your money is secure

All of our savings products are covered by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Meaning your savings are covered up to £85,000. Any deposits you hold above the current limit are not covered.

For more information about the FSCS, visit www.fscs.org.uk

Financial Services Compensation Scheme Information Sheet

save_regular-saver_fscs (1)

Your money is secure

All of our savings products are covered by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Meaning your savings are covered up to £85,000. Any deposits you hold above the current limit are not covered.

For more information about the FSCS, visit www.fscs.org.uk

Financial Services Compensation Scheme Information Sheet

How to apply?

To open a Flexi Saver account, you must be an existing member of the credit union.

If you are already a member, you can request a Flexi Saver account by calling us on 0121 700 1222 or by emailing info@serveandprotectcu.co.uk.

info@serveandprotectcu.co.uk

0121 700 1222

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Junior Saver

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About

Eligibility to Join

Research & Reports

Legal

Terms & Conditions

FSCS Protection

Contact

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Prison CU is part of Serve and Protect CU and is a trading name of Police Credit Union Limited, Guardians House, 2111 Coventry Road, Sheldon, Birmingham, B26 3EA. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority & Prudential Regulation Authority under registration number 213306.

Police Credit Union Ltd. is a member of the Financial Services Compensation Scheme. This means a members savings are covered by the FSCS depositor guarantee scheme up to the value of £85,000. Under the Distance Marketing Directive, you have the right to cancel your savings account within 14 days of opening without financial or other penalty.

© Prison CU 2022. All rights reserved.

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