We're Increasing our Savings Limits!

We are delighted to announce that we have taken the decision to increase our savings limits.

From the 1st of April 2024, the overall cap on savings will be increased from £10,000 per member to £15,000. This means that any member who has reached the current limit of £10,000 can continue to save with Teachers’ Credit Union.

In line with our Insurance Policy, the overall level of Life Insurance which can now be attributed to these savings has also increased, and members can now benefit from up-to £15,000 of free life insurance.

We have also decided to increase the amount you can save every month from £300 to £1000, adding more flexibility to how members can use their Credit Union savings account.

As a result of these increases, Teachers’ Credit Union will now be able to offer loans of up to £35,000*. Combined with a recent reduction in lending rates for balances over £15,000 to 7.76% APR, this makes Teachers’ Credit Union an increasingly competitive and attractive option for larger loans for a variety of purposes.

All loans will continue to remain fully insured, meaning that members can borrow from us freely without the additional worry of how their loved ones will manage this debt should anything happen to them.

Should you have any queries relating to these changes, please contact a member of staff in the office on 02890309770.

The Board
Teachers’ Credit Union

*Terms and conditions apply. Total loan amount available to individual members will be dependent on their share balance at the time of application and subject to Teacher’s Credit Union underwriting criteria.