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 its 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 tables below give examples of how regular savings can soon add up!
| Amount Saved: |
£2 |
£5 |
£10 |
£20 |
£25 |
| Year 1 |
£ 104 |
£ 260 |
£ 520 |
£1,040 |
£1,300 |
| Year 2 |
£ 208 |
£ 520 |
£1,040 |
£2,080 |
£2,600 |
| Year 3 |
£ 312 |
£ 780 |
£1,560 |
£3,120 |
£3,900 |
| Year 4 |
£ 416 |
£1,040 |
£2,080 |
£1,460 |
£5,200 |
| Year 5 |
£ 520 |
£1,300 |
£2,600 |
£5,200 |
£6,500 |
| Amount Saved: |
£10 |
£15 |
£30 |
£40 |
£50 |
| Year 1 |
£ 120 |
£ 180 |
£ 360 |
£ 480 |
£ 600 |
| Year 2 |
£ 240 |
£ 360 |
£ 720 |
£ 960 |
£ 1,200 |
| Year 3 |
£ 360 |
£ 540 |
£ 1,080 |
£ 1,400 |
£ 1,800 |
| Year 4 |
£ 480 |
£ 720 |
£ 1,440 |
£ 1,920 |
£ 2,400 |
| Year 5 |
£ 600 |
£ 900 |
£ 1,800 |
£ 2,400 |
£ 3,000 |
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 upto the age of 80 yrs;
- Confidentiality is respected at all times;
- No hidden charges or fees on any transactions - just a simple one off joining fee of £3 taken from your first deposit;
- Credit Unions are mutual organisations-members savings are pooled to provide the resources for lending to other members; and
- Depending on results, shares are eligible for an annual dividend.
|
09 September 2010
