Riverside’s Platinum Saver account requires a one-off payment of at least £10,000 up to a maximum of £30,000. An annual interest of 2.5% is paid. Members can only hold one Platinum account and interest will be paid on July 31st annually.
If you are interested in this account or finding out more, please fill in the application form below and submit to Riverside Credit Union.
General Terms and Conditions
The Platinum account is only open to members who have an active share account with Riverside Credit Union.
Platinum accounts are only open for a prescribed window as decided by the Board of Directors or when they reach their maximum shareholding as agreed by the Board of directors and cannot be added to during the year. The renewal of these accounts will be subject to Riverside Credit Union being able to offer or wishing to continue to offer such accounts.
Interest will be paid annually and will include all monies from 1st of August to 31st of July.
There are no withdrawals allowed on these accounts without forfeiting all interest.
You can close the Platinum account with 30 days’ notice in writing or in person to Riverside Credit Union or closing the account and transferring to a ‘standard account’.
Closure of the account will result in the loss of any expected interest in part or whole depending at which point the account is closed. Any withdrawal from these accounts before the end date will result in the loss of any potential interest. These accounts cannot be used for obtaining loans.
Life savings insurance may be payable on death up to the age of 80 (terms and conditions apply).
Riverside Credit Union are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors — including most individuals and small businesses — are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the credit union, including their share of any joint account, and not to each separate account. An information sheet and exclusion list can be obtained at any branch.
