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Easy Saver

An Easy Saver account will automatically be set-up for you when you join or apply for a loan.

However you decide to pay-in to your account, saving with our Easy Saver is simple. Any funds you pay into your Credit Union account (using your unique reference) will automatically be deposited into your Easy Saver.

Features:

Start to build your savings, with easy access when you need it:

  • Set-up for you when you join, so all you have to do is set-up your method of paying-in
  • Access to your savings when you need them - with no notice period for withdrawals
  • Register for our Online Services so you can view your balance and request withdrawals online
  • You will receive a dividend on savings held in your Easy Saver (subject to approval)
  • You can hold two Easy Saver accounts at the same time

Thinking of adding a Christmas Saver or 30-Day Notice Account too? No problem - just tell us how you want your deposit to be split between your saving accounts, and we can set it up. You can save up to a maximum of £25,000 with Sheffield Credit Union, between your various saving accounts. Your savings will be safe and secure, and completely covered by the FSCS.


Dividends - Key Information

Dividends are a share of the organisation's surplus, which is the money we make each year after we have paid our operating costs, and which we pay to members with savings. It is a bit like interest, but the amount paid will depend on how the organisation performs. Sheffield Credit Union is a not-for-profit organisation. This means that our main focus is helping people, not making money. In most years though we do make a small surplus - and we use this to reward our savers as well as continuing to invest in the services we provide.

We aim to pay dividends at least equal to the interest rates on building society instant access savings accounts. We cannot guarantee that a dividend will be approved at our Annual General Meeting, and past performance is not a reliable indicator of future results. The dividends paid for the last 5 years have been:

2018: 0.5%

2019: 0.0%

2020: 0.2%

2021: 0.2%

2022: 1.0%

Your dividend will be calculated based on your average savings balance over the year, and paid the following March, shortly after the AGM.

If you also receive dividends from other companies, you may have to declare this to HMRC. Find out more about paying tax on dividends.

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