Easy Access Member Savings
We believe that our Members benefit from regular savings as it allows them to plan for a brighter financial future and gives peace of mind should an emergency arise. We pool member savings held allowing us to lend to other GMB members at very competitive rates. The maximum savings any one member can hold is £20,000. We pay an annual dividend on all member savings. Our easy access savings dividend rate for year-end 2019 was 1.2%
Member Savings Account
- This is an easy access savings account available to all members when joining the credit union.
- A flexible way to save whatever you prefer weekly or monthly
- Save by direct debit or standing order
- Withdrawals from savings are transferred direct by BACS to your bank
Junior Savings Account
- Save for your children or grandchildren
- This account will be in the child's name but under adult control until 18
- Deposit lump sums or save on a regular basis by direct debit, standing order
- We will gift £5 to each Junior account when activated to encourage savings
- Budget for the festive season by saving regularly over 11 months
- One withdrawal from the Christmas Club to your bank account is made annually in the first week of December
- Your Christmas Club will automatically restart in January of the following year unless you advise us otherwise
Credit Union savings are fully protected by the Financial Services Compensation Scheme up to £85,000. A competitive dividend recommended by the the credit union Board and approved at the AGM is paid annually on Member and Junior savings accounts. Stay in touch with your savings through our online balance enquiry or request a statement as required.