Why is saving with Croydon Caribbean Credit Union better?
Whether you’re saving for something in the future or just for a ‘rainy day’, regular saving is a good idea.
Regular saving with Croydon Caribbean Credit Union is an even better idea. At Croydon Caribbean Credit Union you’re not just a customer, you’re a member of a successful financial co-operative. Each share you hold in Croydon Caribbean Credit Union is equal to £1. There is a £2 entrance fee and you will need to hold a minimum savings of £5. Members enjoy equal rights to vote, (one member, one vote) and participate in decisions affecting the credit union. Depending on surplus income available Croydon Caribbean credit Union may declare a dividend at the end of every financial year and each share you hold is eligible for a dividend. The more shares you have, the greater the dividend you will receive.
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.
The staff at Croydon Caribbean Credit Union will be happy to talk to you about suitable alternatives to withdrawing your savings.
The current limit on savings is £15,000
Junior Savings Accounts
Junior accounts can be held for your child between the ages of 0 and 16 years.
To open a Junior’s account the adult must be a member of Croydon Caribbean Credit Union.
We require : One document from ID list A and one from ID List B.
Junior accounts can have a maximum balance of £5,000.00 with maximum annual lodgements of £5000.00.
ID List A |
ID List B |
|---|---|
| Full Passport | NHS Medical Card |
| Original Birth Certificate | Bank/Building Society Passbook |
| NHS Medical Card | Bank/Building Society Statement |
“It’s never too early to encourage the savings habit”
