Safe Savings

A local alternative to banks and building societies

At Lincolnshire Credit Union we aim to promote the benefits of saving. We hope that by encouraging you to save you can develop a degree of financial security for the future.

What's the difference?

• Savers receive a share of our profits in the form of an annual dividend instead of interest
• For the last 2 years the dividend rate has been 1.25% (approximately 10 times higher than the interest paid by many banks on an instant access account)
• The dividend is paid without deduction of income tax (members are responsible for declaring their dividend for taxation purposes)
• The majority of our members qualify for free life assurance

What types of account can I have?

Share Account

Benefits

• Flexibility - Save what you want when you want to (subject to a maximum of £10,000 per member)
• Instant access - Make withdrawals when you need to with no penalties
• Regular savers may be eligible for an Equity Loan at a lower interest rate
• Build up a nest egg to treat yourself or to meet unexpected expenses
• Free life insurance on savings (conditions apply)
• All savings are covered by the Financial Services Compensation Scheme
• An annual return (Dividend) paid
• Saving with us helps support the local community

To open an account simply become a member