Regular Saver

A credit union is a not-for-profit financial cooperative, owned and run by it’s members, for it’s members. Similar to a commercial banks, credit unions provide access to savings and loans.

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 or by telephone.

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.

The Regular Saver requires you to save from £10 to £1,000 per month. You can deposit additional lump sums at anytime (up to a monthly maximum deposit of £1,000).

You can increase or decrease your monthly savings amount (subject to a minimum savings of £10 a month) by post, email, or by calling us on 0121 700 1222.

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 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.

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.

Opening a Regular Savings Account gives you membership to the credit union. All members are required to save between £10 and £1,000 per month into a Regular Saver account. Membership entitles you to open other savings accounts and apply for a loan, if you’re aged 18 or over.

If you are eligible, you can complete our online application, which usually takes 5-10 minutes.