Benefits of Credit Union savings
Members enjoy many benefits
Regular savings will build up a substantial share capital for you and security for the future.
Your savings may earn dividends which are paid annually.
Free life savings insurance is provided for all eligible members.
Your savings are protected by the Financial Services Compensation Scheme.
You can have a maximum of £15,000 in the credit union.
The Credit Union Mission Statement
SAG Credit Union provides services to improve the economic and social well being of our members as well as to practice the values of Equality, Equity and Mutual self-help by providing a means of practicing thrift and thereby creating a source of credit for each other’. To achieve this purpose the Credit Union is committed to providing a broad range of innovative financial products supported by a professional service of dedicated and trained staff. The services be administered in accordance with sound management practices to maintain the financial strength of the Credit union. The Board of Directors, Management and Staff of the Credit Union hereby affirm that the efforts of the Credit Union will be consistently and professionally dedicated to the accomplishment of this mission.
The Credit Union Story
The modern Credit Union movement traces its origins to Germany and to Friedrich Willhelm Raiffeisen, the Mayor of a small town in southern Germany, who in 1849 formed societies, which later evolved in to Credit Unions. The purposes of these Credit Unions was to enable people to help themselves in relieving debt and poverty.
A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common - the common bond.
The credit Union movement employs thousands of local people in the sector, but many more thousands are volunteers involved in the movement and give up their free time to provide this unique service.
Sag Credit Union Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.