Services to Savers
Coastal Credit Union
Time to Save
Coastal Credit Unionmembers are pleasantly surprised at how easy it is to start a “savings habit”, and how much having a little money put away can build confidence and promote a feeling of security.
Set Your Sights
Some like to save for a specific goal whilst others just like the security of knowing they have a pot of money which is protected and is easily accessible. Savings can be split into as many different accounts (“pots”) as the member needs.
Making Things Easy
It’s easy to save! Members can save as much or as little as they like in a number of ways:
• paying in cash or cheques at Coastal Credit Union’s convenient local collection points (for details see our Contact us page);
• using a PayPoint card at participating post offices or shops;
• setting up a standing order for a regular amount (from £5 per month);
• paying by BACS from other bank / building society accounts;
• saving directly from wages via workplace savings schemes run by local employers;
• from salary and/or benefits.
Junior savers (aged 0-16) enjoy feeling in charge of their own money, saving it for a trip, new football kit, a bike, or the latest computer games. Parents, grandparents and other relatives can help, making deposits for Christmas and birthdays as an alternative to other gifts. Junior savers currently receive 1.5% interest, do not pay a membership fee and have no hidden charges on any transactions.
Benefiting you and your community
When you save with Coastal Credit Union, you know that the only people who are benefiting are your neighbours or colleagues. Credit Unions keep money within a community, in this case within Dorset, because there are no outside shareholders to pay.
Dividends are paid to savers once a year, based upon the Directors recommendation and subject to members’ votes, based on any surplus achieved by Coastal Credit Union.
All individual savings are protected by the Financial Services Compensation Scheme, currently up to a total of £85,000 per member.