Personal Savings

We offer three types of personal savings accounts

These accounts are intended for longer term savings of adult members.

When you borrow from us, the proportion of the loan covered by your Shares determines the interest rate we charge on the loan. More details on the Borrowing menu

When you do not have a loan outstanding, you can withdraw your Shares at any time.

When you have borrowed from us, your shares are held as security against the loan. You may withdraw Shares paid in after the loan was issued, if you wish. And, when the loan balance is less than the Shares, take out the difference.

These accounts are intended for short term savings of adult members which they may wish to withdraw at any time.

You can withdraw your Flexi-Savings at any time.

Members who have their wages or welfare benefits paid into the Credit Union find these accounts particularly useful. After deducting an agreed loan repayment, if any, and putting aside some longer term savings into their Shares Account, they hold the rest in their Flexi-Savings so that they can easily take out what they need for living expenses.

We do not take account of Flexi-Savings when we determine the interest rate we would charge on a loan; and we do not attach them to loans as security. However we may withhold them if a member falls behind with loan repayments.

These accounts are for children and young people aged up to 15. (Adult Shares Accounts are for anyone aged 16 or more.)

Children and young people may pay in to their account at our office counters, or by bank transfer. We welcome parents, grandparents and other older relatives paying in to them too.

Savings can only be withdrawn with the consent of the child / young person.