As of the 1st March 2022, the Savings Plus (S2) account has been discontinued until further notice.
Due to the disparity of share to loan ratio within the credit union (more shares than loans), the Credit Union is at risk of becoming unsustainable and will be operating at a deficit if more savings are encouraged.
From the 1st March 2022, please note the following changes:
- Members who do not have a Savings Plus account will not be allowed to open one.
- Existing members can keep their Savings Plus account but no further funds can be deposited or transferred to this account.
- Any automated monthly deposits will be transferred to the Membership Account (S1) when they have been identified.
- Any withdrawals from the Saving Plus account cannot be placed back in the account if made in error - it can be put into the Membership Account (S1)
All members savings are not at risk and 100% of your savings covered by the Financial Services Compensation Scheme
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (No.213995)