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.

Following an unprecedented couple of years for members, the credit union, and the wider economy, the Board was pleased this year, 2021, to be in a position to propose a 0.15% dividend for savers and an 8% unsecured loan interest rebate for borrowers.

We’re delighted to announce that at the AGM on 8 December, the membership voted* in favour of these rates, which reward our savers and borrowers whilst maintaining adequate reserves for the credit union’s future.

*Votes were pre-cast online and by post, and in person on the night.

Previous dividend payments

YEAR ENDINGDIVIDEND RATE
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 2020/21

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
December 20210%
November 20210%
October 20210%
September 20210%
August 20210%
July 20210%
June 20210%
May 20210%
April 20210%

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

PERIODRATE
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.

As of 1 December 2021, the maximum you will be able to save is £500 each month. A member’s collective savings balance is not permitted to exceed £50,000.

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