Dividend and Rates
Dividend and Rates
If the credit union generates a surplus, that surplus may be shared with members in the form of a dividend on savings.
Any dividend paid must be agreed by our members at our Annual General Meeting in December, based on proposals from the Board.
Dividends for Member Savings accounts are paid immediately after the AGM and are calculated daily based on the balances in accounts between 1 October and 30 September each year.
Cash ISA dividends are paid after 6th April each year and are calculated daily based on the balances in ISA accounts throughout the previous tax year.
Last year's Dividend
At our AGM on 6 December 2023, members voted to approve two Dividend payments for all members' share accounts:
1.5% for the period 1 October 2022 to 1 March 2023
2.75% for the period 1 April 2023 to 30 September 2023
We returned 93% of our profits back to members last year, which amounted to a total payment of £3.42m across all members. This is the largest Dividend payment we've ever made.
Previous Dividends paid
We aim to pay a Dividend each year.
This is based on business performance which is affected by external economic conditions and market rates.
Find out the Dividends we’ve paid over the last 10 years.