Cookies help website users perform certain functions. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the website.

If you wish, you can change your cookie settings at any time.


Login to your online accountRegister for your PIN to access your account online

Tel: 020 7561 1786 (Multilingual advisors available)  •  Fax: 020 7272 8192  •  Email: info@credit-union.coop

Wed 16-Aug-2017
NewsMembers benefit from share of our profits
Print
26 May 2017
Members benefit from share of our profits

Our adult members have this year benefited from a 0.75% dividend on their savings and our young savers received 1%. Sharing in our profits is one more reason to choose the Credit Union.

As a financial co-operative, every year the Credit Union aims to return a proportion of our profits to our members. This means that those people who save with us qualify for a dividend on their savings and those who borrow qualify for a loan rebate.

Every £1 of a member’s savings is a £1 share in the co-operative. Although we do not pay interest on savings accounts as such, we distribute any trading surplus to our members as a dividend calculated on average savings. We also distribute any surplus as a rebate of loan interest paid.

The Credit Union offers a range of savings accounts for almost any requirement – and if you can’t see what you need on our website, get in touch as we may still be able to help. From lump sums to regular savings plans, ideally paid directly from your wages, we can kick start your savings habit.

We also offer multiple ‘budgeting accounts’, so a single payment to the Credit Union can be allocated to different savings accounts for things such as Christmas, holidays and children's accounts.

And if you do need to borrow, we offer fair and affordable loans at very competitive rates to cover all sorts of emergencies, as well as longer term needs such as buying a car or improving your home. We would never encourage you to borrow more than you need and you can choose the repayment terms which suit you best.

Treasurer of the Credit Union, Mark Badcock (pictured above), said: “In today’s environment of low interest rates, once again this year our dividend provides a very competitive return on members’ savings compared to other instant access accounts. We are also pleased to be able to return 1% to our borrowers in the form of a loan interest rebate – there aren’t too many other lenders who do that!”

Please look around our website for information on our savings and loans, or contact us to find out more.


Find Us here:
TwitterTwitter
FacebookFacebook
  • London Capital Credit Union
  • Tel: 020 7561 1786 (Multilingual advisors available)  • 
  • Fax: 020 7272 8192  • 
  • Email: info@credit-union.coop
  • Web: http://www.credit-union.coop
Authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. Firm Ref. No. 214094