Harlowsave Share Saving Accounts – helping you manage your financial future
Opening a savings account can be the gateway to financial freedom and saving for the future is one of the most important financial decisions you will ever make.
All Harlowsave members must save the minimum amount. It is a condition of being part of the credit union. However, once you get into the savings habit you will not miss the money. You will also be putting a little bit away to save for what you want – a holiday, Christmas, a pair of shoes, new hair do… You can have as many savings accounts as you like.
Our savings accounts are called share savings accounts because the money you deposit with us represents a co-operative ownership share in Harlowsave credit union. That means any profits we make are shared with you. Instead of interest, we pay an annual dividend as long as we are making a profit. In the last two years a 0.5% dividend has been paid which is equal to current bank base rates.
Payment of an annual dividend to members is not guaranteed. The Directors announce each year at the AGM whether the business performance for the year enables payment of a dividend
Savings can be made through payroll deduction, standing order, PayPoint, cash or cheque, and any money in your savings account is always available for immediate access with no withdrawal penalties.
When Universal Credit is rolled out in our area, we can act as your bank by receiving your payments and supporting you in planning your monthly budget so that rent, bills and any other regular payments you have are automatically covered.
Unlike banks or building societies, we also provide all our members with life insurance cover linked to their savings account*. Why not call into the office and pick up a leaflet.
We look forward to hearing from you.