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.

Previous dividend payments

YEAR ENDING DIVIDEND RATE
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 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.

MONTH RATE
March 2021 0%
February 2021 0%
January 2021 0%
December 2020 0%
November 2020 0%
October 2020 0.1%
September 2020 0.1%
August 2020 0.1%
July 2020 0.1%
June 2020 0.1%
May 2020 0.1%
April 2020 0.1%

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

PERIOD RATE
April 2016 until July 2016 1.25%
August 2016 until March 2017 1.00%
April 2017 until March 2018 1.00%
April 2018 until March 2019 1.00%
April 2019 until March 2020 1.00%

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

As of 1 May 2020, the maximum you can deposit with the credit union across all accounts in any financial year is a total of £2,500 lump sum deposits, plus a maximum £1,000 regular payments each month (totalling £14,500). A member’s collective savings balance is not permitted to exceed £85,000.

View our ISA account Terms and Conditions for more information.

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You are now applying for a personal loan

Please check first that you are eligible to apply:

  • You are aged 18 or over
  • You have had an active Glasgow Credit Union membership for at least 3 months
  • You have a UK bank account in your own or joint names
  • You are a permanent UK resident
  • You have never been bankrupt or had a Court Decree

To complete your application you will need:

  • Your current employer's address details
  • Details of monthly income and outgoings
  • Bank or building society details (sort code and account number)

To enable us to make a decision on your loan application we will contact Credit Referencing & Fraud Prevention Agencies. This will register a search against your credit record and if your application is successful we will share the information we hold for you with these agencies. Further details are available in our Privacy Notice

It is important that you read the Privacy Notice document above. If there is anything that you do not understand, please contact us.

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