Standard Shares Account
This is the member's main account and has the following benefits :
An annual dividend is payable on this account. This year's recommended Dividend will be an excellent: 3%
You can use these shares to borrow with and can apply for up to five times shares value using the shares
as collateral.
When there is no loan balance secured by your shares, one weeks notice is normally asked for up to £1,000 withdrawal and two weeks for over £1,000.
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Gold Saver Shares Account
This account is designed for members to save longer term, An annual Dividend is payable onthis higher dividend account.This years recommended Dividend is a superb: 4%
30 days notice is required for all share withdrawals.
Urgent withdrawal can be made on up to two occasions per year with only the "Saver" account" notice period being given however the lower "Standard Dividend" would then be due for that amount.
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Platinum Saver Shares Account
This 60-day notice account is designed for member’s longer-term savings, with a brilliant 5% recommended annual dividend on this account.
Urgent withdrawal can be made on up to two occasions per year with a lesser notice period being given, in which case the appropriate lower dividend would then be due, but only for the amount withdrawn- not your whole balance, this would remain at Platinum rate, how good is that?
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NOTE
Dividends on Shares can increase or decrease annually according to profits and their distribution, the Board will recommend the Dividend to Members at their Annual General Meeting on the third Tuesday in January of each year.
* Please note that your credit union Dividend is paid gross of Tax, as normal, you should ensure you meet any taxation responsibilities that may be due.
Page last updated - 22 January 2010