Savings
Adult Saving Scheme
Start saving from as little as £1.00
You can start saving with NEWCU with as little as £1.00 and benefit from layered interest rates that encourage you to save more and discover the route to greater financial security. Every member receives a personal passbook so keeping track of your savings is easy.
Covered by Financial Services Compensation Scheme
Members are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to the depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.
Easy Access and Share accounts
Wages, pensions and benefits can be paid into your ‘Easy Access’ account. You can then withdraw money from this account or have it transferred into your share account for a minimal cost, no-profit transaction fee. Note: An Easy Access account does not attract dividends.
Dividend
We try to pay a dividend annually as soon as possible after the AGM on all savings kept within the Credit Union financial year from the 1st October of the previous year to 30th September of the current year. However, this dividend is dependent on there being a surplus available at year end.
