The Benefits of our Savings
Key features of our Loyalty Saver Account
No transaction fees
No hidden charges
Save as much or as little as you like
Save on a weekly or fortnightly basis
Make deposits through a bank
Make deposits by cheque/standing order
Your savings are 100% protected
Start saving from as little as £5.00 weekly
There is no minimum age to start saving with us, however you must be an existing member of The Pentecostal Credit Union.
By law we cannot pay a guaranteed interest rate on savings. Instead we pay an annual dividend that is agreed by members at the AGM.
Savings as shares in a Credit Union are a better way to save. You are not just another customer but an active member of a highly successful financial co-operative. Yes, you have a share in the ownership of the Credit Union. Along with having a say in the operation of the Credit Union you also earn dividends.
Members are asked to save regularly, and to cultivate a habit of saving. This pool of savings from members then becomes available for all members to draw on should they need money, subject to certain conditions.
You can start saving from as little as £5.00 on a regular weekly/bi-weekly or monthly basis, and savings can be deposited through your bank, or by sending in a cheque, or more conveniently by Standing Order. It is as simple as that!
Savings can be withdrawn at anytime subject to The Pentecostal Credit Union’s Rules. Members become eligible to apply for a loan on day one of membership, subject to credit and affordability checks.
Member’s savings are protected by the Financial Service Compensation Scheme (FSCS). The FSCS protects most depositors, including individuals and small companies, up to £85,000.