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Everyone benefits from regular saving, it allows us to work towards our financial goals and gives us peace of mind should an emergency arise. Committing yourself to a regular saving pattern can be difficult but at the Credit Union it’s easy with payroll deduction. Credit Union members can save at an affordable level 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 table below gives examples of how regular savings can soon add up!
| Amount Saved: |
£10 |
£15 |
£30 |
£40 |
£50 |
| Year 1 |
£ 120 |
£ 180 |
£ 260 |
£ 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 |
Payroll Deduction - Painless Monthly Saving
The painless way to save! Your monthly deduction is taken directly from your salary and will show up on your payslip alongside your tax and National Insurance deductions.
Many members say they don’t even notice that they are saving!
Benefits of Saving with the Credit Union
- Save as little or as much as you can afford;
- 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 reserves, shares are eligible for an annual dividend.
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04 September 2010
