Why is saving with Abbey Credit Union Ltd. better?
Whether you’re saving for something in the future or just for a ‘rainy day’, regular saving is a good idea.
Regular saving with Abbey Credit Union Ltd. is an even better idea. At Abbey Credit Union Ltd. you’re not just a customer, you’re a member of a successful financial co-operative. Each share you hold in Abbey Credit Union Ltd. is equal to £1. There is a £2.50 pence entrance fee and you will need to hold a minimum savings of £25. Members enjoy equal rights to vote, (one member, one vote) and participate in decisions affecting the credit union. Depending on surplus income available Abbey credit Union may declare a dividend at the end of every financial year and each share you hold is eligible for a dividend. The more shares you have, the greater the dividend you will receive.
Can I have easy access to my savings?
You can withdraw your savings provided they are not pledged as security on a loan. However, you are encouraged to keep your savings intact, so that:
The staff at Abbey Credit Union Ltd. will be happy to talk to you about suitable alternatives to withdrawing your savings.
The current limit on savings is £15,000
Minor Savings Accounts
Minor accounts can be held for your child between the ages of 0 and 16 years.
To open a Minor’s account the adult must be a member of Abbey Credit Union Ltd.
A joining fee applies.
a copy of the child’s birth certificate and proof of membership must also be provided.
Minor accounts can have a maximum balance of £5,000.00 with maximum annual lodgements of £5000.00.