Saving Money Dividends and Interest Rates

The Board of Directors agree the rate of return for all savings following the AGM (usually held late November).  The Child Trust Fund account rate will be assessed by the Board on a regular basis.

Dividend rates on Adult Savings (including Christmas Savings Accounts)

Year ending September 2009 - 2.75%

Year ending September 2008 - 3%

is compares very favourably to other Credit Unions in the area who on average pay a dividend of between 1 and 4% (dependant on individual Credit Union performance).  By law, the Board of Directors can not exceed an 8% dividend.

Interest Rates on Junior Savers Accounts

Year ending September 2009 - 2.75%

Year ending September 2008 - 3%

Child Trust Fund Interest Rate

Present rate - 4%

The above dividend and interest rates are calculated based upon the daily balance of the account from the 1st October to the following 30th September each year.