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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 ENDING | DIVIDEND RATE |
|---|---|
| 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 2021/22
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 |
| June 2022 | 0% |
| May 2022 | 0% |
| April 2022 | 0% |
| March 2022 | 0% |
| February 2022 | 0% |
| January 2022 | 0% |
| December 2021 | 0% |
| November 2021 | 0% |
| October 2021 | 0% |
| September 2021 | 0% |
| August 2021 | 0% |
| July 2021 | 0% |
| June 2021 | 0% |
| May 2021 | 0% |
| April 2021 | 0% |
The ISA return paid at the end of previous tax years was calculated at the following historical rates:
| PERIOD | RATE |
|---|---|
| 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.
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.
© Glasgow Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our FRN is 213558
