Flexi Saver

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.

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.

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

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.

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

You will 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.

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.

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.