SERVICES > SAVINGS
Savings
Saving with the credit union is 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.
Credit unions operate by using savings to make loans to members, the interest from these loans is used to cover the cost of running the Credit Union, and when possible, an annual dividend to its members.
By saving with Stevenage Credit Union you can get your finances under control and start saving for a holiday, a special occasion, or household improvements. The sooner you start saving the better!
The maximum you can save with us is £15,000.
The credit union helps you by encouraging the saving habit. We offer several types of savings accounts:
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Main saver account - saving on a regular basis you may qualify for a loan if you should need one.
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Christmas account, which cannot be accessed until 1st November.
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Junior account, from birth to 16.
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Holiday or special occasion account
How to start saving with Stevenage Credit Union
It couldn’t be simpler to save with us - you can save as much or as little as you like, either weekly, monthly or as often as you wish. Once you join us, you can pay into your savings account in different ways:
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By standing order
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By coming into our branch
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By making payments with your online bank account
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Apply online now to start saving today.
Withdrawing your savings
If you want to withdraw your savings the best option is a bank transfer. You can contact the credit union to tell them how much you want to transfer from your credit union account.
The other option is to visit our office at 11 The Hyde to ask for a cash withdrawal.
You can withdraw up to £300 cash, if you want a larger amount we will need seven days notice.
Can I apply for a loan immediately?
You need to have started saving with us before you can apply for a loan.
Stevenage Credit Union can offer you a loan suited to your circumstances. If you are over 18 the type of loan you can apply for will depend upon your membership length, the level of savings you have, your credit history and your ability to repay the loan. Click on loans above for more details.
Look at how easy it is to save!
Weekly Savings Table
Amount Saved: £2 £5 £10 £20 £25
Year 1 £104 £260 £520 £1,040 £1,300
Year 2 £208 £520 £1,040 £2,080 £2,600
Year 3 £312 £780 £1,560 £3,120 £3,900
Year 4 £416 £1,040 £2,080 £4,160 £5,200
Year 5 £520 £1,300 £2,600 £5,200 £6,500
Monthly Savings Table
Amount Saved: £10 £15 £30 £40 £50
Year 1 £120 £180 £360 £480 £600
Year 2 £240 £360 £720 £960 £1,200
Year 3 £360 £540 £1,080 £1,440 £1,800
Year 4 £480 £720 £1,440 £1,920 £2,400
Year 5 £600 £900 £1,800 £2,400 £3,000