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.
Here is how a regular Credit Union savings plan can help you to build up a substantial savings account.
£1 per week
£5 per week
This table does not include any dividends that you may earn. Dividends earned on your savings increase the above totals.
Easy Share Accounts
- Easy Share Accounts may be opened by anyone holding a full SAG Credit Union Share Account and meet the Credit Union requirements in respect of loans. (You should note that If a member closes their main Savings Account they must close their Easy Share Account).
- Members have immediate access to Easy Shares with no penalties incurred.
- The maximum amount that can be saved in an Easy Share Account is £3,000 with a combined savings maximum of £15,000.
- A minimum of £1.00 is needed to keep the Easy Share Account open.
- Easy Share accounts attract the same dividend as your ordinary shares.
- Easy Share Accounts are not taken into consideration when assessing a loan application.