Tel: 01582 666877 Email: office@mmcu.co.uk

25 July 2017
Shares

Shares

Savings as shares in a Credit Union are a better way to save. You are not just another customer but an active member of a highly successful financial co-operative. Yes, you have a share in the ownership of the Credit Union. Along with having a say in the operation of the Credit Union you also earn dividends.

Benefits of Credit Union savings

  • Savings balances over and above any loan you may have are available to you to withdraw on demand.
  • High dividends for savings available on demand, you will not get a higher return at the same level of risk.
  • Free life cover on saving up to £ 10,000 (subject to terms and condition)
  • There are no transaction charges or fees.

For small to medium savers your Credit Union is where you belong.


Types of Share Accounts

Regular Share Accounts

  • Members present accounts with Credit Union are considered as a Regular Share Account. These accounts are suitable for those who are not liable for income tax.
  • The onus is on the member to declare their account to the Revenue Commissioners.
  • Dividend rate declared at A.G.M. is posted gross to members accounts.
  • No disclosure is required by Credit Union.

 

Security

  • Credit union members can rest easy in the assurance that their savings are safe.
  • All officials of credit unions, whether volunteers or staff, must be fidelity bonded.
  • All monies received in the credit union are properly recorded and lodged regularly.
  • Full financial statements are prepared and can be examined by members.
  • Annual independently audited returns are lodged with the Financial Services Authority.
Money Matters Credit Union Tel: 01582 666877 Email: office@mmcu.co.uk Web: http://www.mmcu.co.uk
Money Matters Credit Union is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation and Financial Conduct Authorities (FRN 213625)