Making saving simple

Making saving simple

Saving with us is easy!

When you join, we'll open a Member Savings Account for you and ask you to save between £10 and £1000 each month by Direct Debit or Salary Deduction. 

You can vary how much you want to save each month as often as you like and easily save more when you can by transferring money directly to your account by BACS.

The maximum you can save across all your accounts including Member Savings is £85,000

Manage your account in app, online or by phone and make withdrawals at any time without penalty.

Start building your nest egg today.

Organise your savings

Member Savings

Every Glasgow Credit Union member has a Member Savings account. 

You can save regularly to this account by Direct Debit or Salary Deduction and make additional deposits by direct transfer from your bank account. 

This is your main membership account and where we'll collect any Glasgow Credit Union loan or mortgage repayments if you have any loan or mortgage products with us.

Savings Pots

If you want to separate your savings for different purposes, you can ask us to setup additional pots for your Member Savings. You can have up to 2 pots in addition to having a Christmas Savings Pot with us. 

You can manage your savings pots, move money between pots and make withdrawals in app, online or by phone. You can even split regular Direct Debit or Salary Deductions to spread savings between pots. 

Christmas Savings

Save in advance for the cost of Christmas. 

We can help you save for Christmas throughout the year with your money tucked away in our Christmas Savings Pot.

To encourage you not to withdraw money until Christmas, we'll charge your a fee of £5 each time you withdraw through the year with free withdrawals only available in November and December. 

Saving with us

Your savings may earn an annual dividend.

As a mutual organisation, our members have a say on any annual dividend paid to your Member Savings accounts and vote on this at our Annual General Meeting. 

Any dividend will be paid into your account after the AGM and is calculated based on your daily balance throughout our financial year which runs from 1st October until 30th September.

Dividends on Cash ISA accounts are announced independently, calculated on daily balances throughout the tax year and paid to your Cash ISA account after the tax year end. 

  • Save amounts that suit you

    Save regularly between £10 and £1000 each month across your accounts.

  • Save more when you can

    In addition to your regular savings, you can save more by BACS, when you can, as long as your balance remains below £85,000.

  • Anytime withdrawals

    Withdrawals are quick and easy via BACS transfer and can be requested in app, online or by phone.

  • Salary deduction

    If you work for one of our employer partners, you can save direct from salary.

Frequently asked questions