Whether you save a little or a lot, putting money aside on a regular basis means you will be working towards managing your money better, giving yourself something to look forward to and providing yourself with a nest egg to fall back on.
Part of being a member of a credit union involves committing to save on a regular basis. This not only offers you flexible and easy access to your savings, but it’s also a safe and ethical way to save and help others in your local community.
Committing yourself to a regular saving pattern can be difficult, but at Riverside Credit Union we try to make it as easy as possible to suit your needs. You can save weekly, fortnightly, monthly or as often as you wish. You can also pay into your Riverside Credit Union savings account in a number of different ways.
You just need to open an account and then you can start saving. You can pay into your savings account via:
Riverside Credit Union is committed to helping our members create a better financial future. All members are required to save a minimum of £5 per week or £20 per month.
Small regular amounts soon add up and remember at the Credit Union you are not just another customer, but a co-owning member of an organisation, which provides security and protection. Depending on surplus available at the end of the year, shares are eligible for a dividend.
The maximum savings an individual member may hold in Riverside Credit Union savings currently stands at £10,000.
You may withdraw your saving at any time as long as they are not pledged against a loan taken out with Riverside Credit Union. There are a number of options available to withdraw your savings i.e. Engage Card , interbank transfers (any amount) or request cash from Riverside Credit Union office (max £50 cash) or next day bank transfer.
Alternatively, if you have registered for the online service, you can login and submit a share withdrawal or transfer of savings request online. Again, this can be forwarded to your card.
Riverside Credit Union is a member of the Government’s Financial Services Compensation Scheme and that means that your savings, up to a total of £85,000 are protected.
This savings account offers a guaranteed 2.5% interest rate for investments between £10,000 and £30,000 that remain in the account for 12 months.