Saving money is a good idea. By putting a little aside on a regular basis you not only have something to look forward to, you also have something to fall back on, should the need arise. Saving money with Glasgow Credit Union is an even better idea. You’re not ’just another customer’, but an active member of a highly successful financial co-operative , which provides security and protection for your savings, along with an excellent dividend (please note that the dividend is paid gross and any tax responsibility lies with the member). Saving with Glasgow Credit Union is easy with payroll deductions or through Direct Debit.
 Share Account Terms and Conditions
How your Glasgow Credit Union savings account works
Once you start saving regularly your funds build up quickly. Each share (one share is equal to £1) is eligible for a dividend at the end of the financial year (1 October to 30 September). Dividends are decided at the AGM and paid to members in December. Again, members are reminded that the dividend is paid gross and tax responsibility lies with the member. By saving regularly you not only help yourself, you also help your fellow members as all savings provide the base to lend to other Glasgow Credit Union members. The maximum limit a member can hold in savings is £50,000. This includes all share accounts and the ISA is applicable. The maximum a member can lump sum deposit to is £45,000. This includes all share accounts and the ISA is applicable.
View previous years dividend rates
Glasgow Credit Union offers several different savings accounts:
Click here for information on our Christmas Savings Club
Click here for information on our ISAs
Click here for information on our Child Trust Fund Account
Click here for information on our Junior Savings Accounts
Click here for information on our AddzUp Schools Savings Account
Benefits of Glasgow Credit Union Savings
- Dividend paid on savings
- Members’ savings are protected by free life savings insurance. Click here for more details
- Easy access to your savings if you wish to make a withdrawal (if not pledged against loan).
- No hidden charges or fees on any transactions.
- Easy way to save through automatic payroll deduction or direct debit.
- Lump sum deposits taken.
- Quick deposit available in office for cheque payments into account. (Please note that for members and staff security we do not accept cash payments in the office)
- Glasgow Credit Union is covered by the Finacial Services Compensation Scheme (FSCS) ensuring that members savings are protected. Click here for more details
It’s Your Credit Union
Glasgow Credit Union is owned and controlled by its members, and every member has a vote irrespective of the size of their savings. The Credit Union exists only to benefit its members and all moneys received by Glasgow Credit Union are used for mutual benefit.
Withdrawals
Members can withdraw their Credit Union savings provided they are not pledged as security for a loan. However, as far as possible, members are encouraged to keep their savings intact, thus ensuring:
- your savings continue to earn a dividend
- you continue to benefit from Life Savings Insurance Protection at no cost to the member (terms and conditions apply including 6 months pre-existing condition limitation);
- your borrowing power is maintained.
Find out more about free Life Savings Insurance
Remember to take advantage of all these benefits, you’ve got to be a member! Join Now!
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