Dividend and Rates

If the credit union a generates surplus, that surplus may be shared with members in the form of a dividend on savings (subject to adequate levels of reserves being met). If the credit union is in a position to pay a dividend, this rate will be decided and agreed by our members at our Annual General Meeting, based on recommendations from our Board.

At our AGM on 6 December 2023, members voted* to approve two Dividend payments for all members’ share accounts:

  • The first dividend payment (1.5%) would be calculated on savings balances from 1 October 2022 to 31 March 2023.
  • The second dividend payment (2.75%) would be calculated on savings balances from 1 April 2023 to 31 October 2023.

We’ve returned 93% of our profits back to members this year, which amounts to a total payment of £3.42m across all members. This is the largest Dividend payment we’ve ever made.

*Votes were pre-cast online and by post.

Previous dividend payments

YEAR ENDINGDIVIDEND RATE
20231.5% / 2.75%
20220.15% / 1.50%
20210.15%
20200%
20191.15%
20181.5%
20171.3%
20161%
20151.5%
20141.5%
20132.5%
20123%
20113%
20103.25%
20093%

ISA savings rates for 2022/23

ISA accounts receive a return paid annually in April each year. ISA rates of return can vary from month to month throughout the year and we will update this page with the dividend rate to be paid each month.

MONTHRATE
January 20240%
December 20230%
November 20230%
October 20230%
September 20230%
August 20230%
July 20230%
June 20230%
May 20230%
April 20230%

The ISA return paid at the end of previous tax years was calculated at the following historical rates:

PERIODRATE
April 2022 until March 20230.0%
April 2021 until March 20220.0%
November 2020 until March 20210.0%
April 2020 until October 20200.1%
April 2019 until March 20201.00%
April 2018 until March 20191.00%
April 2017 until March 20181.00%
August 2016 until March 20171.00%
April 2016 until July 20161.25%

We are no longer taking new subscriptions for our ISA account.

View our ISA account Terms and Conditions for more information.

The maximum you will be able to save is £1000 each month. A member’s collective savings balance is not permitted to exceed £85,000.

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