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:
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.
YEAR ENDING | DIVIDEND RATE |
---|---|
2023 | 1.5% / 2.75% |
2022 | 0.15% / 1.50% |
2021 | 0.15% |
2020 | 0% |
2019 | 1.15% |
2018 | 1.5% |
2017 | 1.3% |
2016 | 1% |
2015 | 1.5% |
2014 | 1.5% |
2013 | 2.5% |
2012 | 3% |
2011 | 3% |
2010 | 3.25% |
2009 | 3% |
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.
MONTH | RATE |
January 2024 | 0% |
December 2023 | 0% |
November 2023 | 0% |
October 2023 | 0% |
September 2023 | 0% |
August 2023 | 0% |
July 2023 | 0% |
June 2023 | 0% |
May 2023 | 0% |
April 2023 | 0% |
The ISA return paid at the end of previous tax years was calculated at the following historical rates:
PERIOD | RATE |
---|---|
April 2022 until March 2023 | 0.0% |
April 2021 until March 2022 | 0.0% |
November 2020 until March 2021 | 0.0% |
April 2020 until October 2020 | 0.1% |
April 2019 until March 2020 | 1.00% |
April 2018 until March 2019 | 1.00% |
April 2017 until March 2018 | 1.00% |
August 2016 until March 2017 | 1.00% |
April 2016 until July 2016 | 1.25% |
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.