Standard Membership

Once you have joined you can put money away in your Shares account regularly, as much or as little as you want, and enjoy the feeling of watching your savings grow, up to a maximum of £26,416 (Combined total any member may have in their Shares, Flexi Saving or Young Member's Savings Account).

If you have a bank account you can set up a standing order to pay into your credit union account. Or you can pay cash or cheques over the counter at one of our offices or service points.

If you receive Child Benefit, you can have it paid directly into your savings account ready to take out as and when you need it.
All your savings are safe with us and guaranteed by the Financial Services Compensation Scheme.

Flexi – our flexible savings account

As well as your Shares account you can have a Flexi savings account. You can put money in and take some out even when you have an outstanding loan and you can’t touch your normal Shares account.

Young Members

Anyone under the age of 16 who lives within the common bond, or is a member of the household of an existing member, can join us as a Young Member and start to learn about good money management – a vital skill for the future. They don’t pay the £1 joining fee until they reach 16, when they qualify to become full members.  Family can pay into a Young Member’s account, so birthday and Christmas money – even cash for helping with the chores – can go straight in to boost their savings.

Child Benefit

You can have your Child Benefit paid directly into the credit union’s Co-operative Bank account. It will then be allocated to your credit union account(s) in the same way we process standing order payments.
So, if you have an outstanding loan, an agreed amount would be taken first, then some funds must be paid into your Shares Account as this will have a bearing on any future loan requests. This money can’t be withdrawn if your loan balance is higher than the Shares Account balance.
Next, you can choose to put some into a Flexi Savings Account, the amount would be up to you. Use the Flexi account if you need to take out some of the money for normal living expenses; you can then make withdrawals even if you have a loan outstanding.
Finally, you could also choose to pay some of the money into your child’s own credit union account to help give them a head start.

Free Life Assurance

When you choose to save with us you get free life assurance, paying your family up to double your savings if you die. (subject to age)
The final figure will depend on your age and how much you have saved. But the more you save, the more your loved ones can benefit.
The policy is aimed at making the lives of your next of kin easier in the event of your death. They could be left with medical bills and funeral costs to be paid and at times like that we can help ease the financial strain of coping with bereavement.
So saving with us is not only a great way of keeping your money secure and building up a nest egg, it can also provide a legacy to continue to help you care for your loved ones – even when you’re no longer around.

Corporate Members

Please contact our Corporate Membership Team at Lodge Lane Office for more information.

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