Saving Money

Regular savings............brighter future

Unlike most ethical investments, your contribution will undoubtedly have a positive impact on your local community. We, at Wrexham County Borough Credit Union, aim to provide a high quality, sustainable and accessible savings and loans co-operative, which is responsive to the needs of the local community and actively prevents the detrimental effects of poverty and financial exclusion.

Wrexham County Borough Credit Union provides a convenient and safe method of saving up to £10,000.  Every £1 saved is the equivalent to a single share and members can save as little or as much as they choose but are encouraged to save on a regular basis.  Savings can build up quickly once a savings habit has been established and members are encouraged to continue saving even when repaying a loan.

At each AGM, the Board of Directors assess the financial position of the Credit Union and after expenses have been taken into account, and a regulatory transfer made to reserves, any residual can be given to members in the form of a dividend.  At the Annual General Meeting on the 19th November 2008, the Board agreed to pay members a 3% dividend to savers.

All members benefit from regular saving.  It allows members to work towards their financial goals and gives them a cushion in an unforseen financial emergency.  Saving regularly reduces the need to borrow from costly sources of credit.  Save with Wrexham County Borough Credit Union for your holidays, a new car, your wedding, school uniforms, a rainy day fund, birthdays or Christmas.

The ability and capacity to save money for the short or long term is an important step on the path to establishing financial wellbeing and to building assets.  Even small, regular savings will grow and help you meet those unexpected bills.

Monthly Saving	Year 1	Year 3	Year 5
£10	£120	£360	£600
£25	£300	£900	£1,500
£50	£600	£1,800	£3,000

Wrexham County Borough Credit Union offers FREE life savings insurance on savings up to the value of £10,000, the level of which will be reviewed annually.  In the event of a member's death, the member's nominated beneficiary will receive both the member's savings and a sum from the insurance.