Encouraging and getting into the habit of saving is an important part of Antrim Credit Union’s vision. Regular saving and sensible borrowing are key elements when it comes to managing your money.
Saving regularly gives you financial security, independence, peace of mind and an attractive return on your savings. Regular saving with your credit union is an even better idea. At Antrim Credit Union, you’re not just a customer, you’re a member of a successful financial co-operative. Modern ways to save and online account access also mean that saving with ACU isn’t just smart, it’s easy too!
Return on Savings from Antrim Credit Union
Antrim Credit Union is a non-profit organisation. At the end of every financial year the credit union declares a dividend which every member is entitled to. The more shares you have, the greater the dividend you will receive. The amount paid to members varies from one credit union to another.
Benefits of Antrim 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.
There are no transaction charges or fees.
Can I have easy access to my savings?
You can withdraw your savings provided they are not pledged as security on a loan. However, you are encouraged to keep your savings intact, so that:
- They continue to earn a dividend
- They continue to benefit from the Life Savings Insurance protection
- You maintain your credit worthiness and capacity to borrow
How secure are my savings?
Antrim Credit Union members can rest assured that their savings are safe. Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:
- All officials of credit unions, whether volunteers or staff, must be fidelity bonded.
- Savings up to a limit of £10,000 per member are protected by the Savings Protection Scheme in all credit unions participating in the Scheme.
- 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 relevant authority, The Irish Financial Services Regulatory Authority.
Types of Share Accounts
Here at Antrim Credit Union we offer two types of savings accounts:
Adult Share Accounts
ACU give the option of adult savings accounts. Accounts can be opened by anyone over the age of 16 who lives in the common bound. Members are able to hold up to £10,000 in the account with a dividend issued at the end of each year (dividend can vary from year to year).
Junior Share Accounts
There is also the option to open an account for a junior member within Antrim Credit Union. These accounts are for any juniors aged from birth- 16 years old. These accounts must be opened by a parent or legal guardian and can hold up to £3,000. A dividend is also paid to junior members at the end of each year.
There are a number of ways you can put money into your Credit Union account:
- Set up a Direct Debit from your bank account
- At the Credit Union using cash, cheque or a Debit card
- By phone using a Debit card