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20 October 2017
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Save With Us

"The Credit Union offer a range of services to our members"

Everyone benefits from regular saving, it allows us to work towards our financial goals and gives you peace of mind should an emergency arise. Committing yourself to a regular saving pattern can be difficult at first, but with the Credit Union its easy, with some employers doing payroll deduction. Credit Union members save at an affordable level to them, be it 1 or 100. Small regular amounts soon add up and remember at the Credit Union you are not just another customer, but a co-owning member of an organisation which provides security and protection. The minimum amount a member should save is 1 per week or 5 per month, though these amounts may change.

Methods of Paying-In

  • By requesting a Pay-In card which costs a one-off fee of 2.50, and is used at any Post Office without further charge
  • By setting up a Standing Order from your bank (details to be obtained from the Credit Union)
  • By posting a cheque which MUST be made payable to SEFTON CREDIT UNION, telling us which member and account is to be credited.

The tables below give examples of how regular savings can soon add up!

Weekly Savings Table
Amount Saved: 2 5 10 20 25
Year 1 104 260 520 1,040 1,300
Year 2 208 520 1,040 2,080 2,600
Year 3 312 780 1,560 3,120 3,900
Year 4 416 1,040 2,080 1,460 5,200
Year 5 520 1,300 2,600 5,200 6,500
 
Monthly Savings Table
Amount Saved: 10 15 30 40 50
Year 1 120 180 360 480 600
Year 2 240 360 720 960 1200
Year 3 360 540 1080 1400 1800
Year 4 480 720 1440 1920 2400
Year 5 600 900 1800 2400 3000

Benefits of Saving with the Credit Union

  • Save as little or as much as you can afford (eg. 1/week or 5/month);
  • You will automatically receive free life insurance on your savings;
  • Confidentiality is respected at all times;
  • No hidden charges or fees on any transactions;
  • Credit Unions are mutual organisations - members savings are pooled to provide the resources for lending to other members; and
  • Depending on the Credit Union having a surplus at the end of the financial year and receiving the o.k. from our Auditors, members with shares (savings) are eligible for an annual dividend.
Updated: 18 October 2013