Savings FAQs

Here you can see a list of our most Frequently Asked Questions. If your question is not listed, please feel free to submit a question via our contact form or call us on: 028 90309770

Each and every £1 you save is equivalent to 1 share in the credit union. Our savings limits are as follows:

  • Maximum deposit of £1,000 per month
  • Maximum total shares of £15,000

Credit Unions in Northern Ireland are covered by the Financial Services Compensation Scheme (FSCS). Please go to https://www.fscs.org.uk for more information.

In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to proactively intervene to protect members' savings by making available financial assistance to help any credit union which may experience difficulties.

Every £1 you save before the age of 55 provides £1 of insurance. Once you are over the age of 55 each £1 you save with your credit union provides the following benefit:

  • £1 saved between ages 55-59 provides £0.75 insurance
  • £1 saved between ages 60-64 provides £0.50 insurance
  • £1 saved between ages 65-69 provides £0.25 insurance

No insurance is payable on amounts saved after your 70th Birthday