Saving with us

Whether you save a little or a lot, putting money aside - on a regular basis - is a better way to manage your money.

As a result, there's something to look forward to. Additionally you'll have a nest egg to fall back on.

Central Liverpool Credit Union provides three types of saving accounts:

  • Regular: an instant access account paying an annual dividend (share of our profits)
  • Prize: a monthly prize draw account
  • Christmas: save up for the holiday season.

Deposits are protected by the Financial Services Compensation Scheme and come with free life savings insurance.

Apply to open a savings account online or by visiting one of our branches.

Apply for savings

Regular saver

Members of Central Liverpool Credit Union are given a regular saver account. Often referred to as a share or member account, this provides you with a flexible and easy way to save by:

  • Depositing cash and cheques
  • Making a debit card payment
  • Setting up a regular standing order
  • Paying in via payroll deduction
  • Transferring benefit payments

At the Credit Union you're not just another customer, but a co-owning member of an organisation that's been providing a services to the local community for over 30 years.

Savings account pay a dividend. Dividends are a share of the profits applied as a percentage return on your savings. They are agreed at each Annual General Meeting, but are not guaranteed. The last payout was 1.5% and was agreed in June 2019.

Prize saver

You can deposit up to £200, buying you 200 ‘tickets’ for a monthly prize draw. You’ll have the opportunity to win a prize of £5,000 or twenty runner up prizes of £20 each.

Read more about the Prize Saver, including the full terms and conditions for more information.

Christmas saver

You can make payments into a Christmas savings account. Helping you spread the cost of the festive season you can only withdraw the money between November and January.


A dividend is paid by the Credit Union to make your savings grow. Dividends are a share of the profits, applied as a percentage return on your savings.

Members agree the rate of dividends at each Annual General Meeting.

Members agreed, at the most recent annual general meeting in June 2019, to pay 1.5% on adult accounts and 2% of junior accounts. However, rates do vary from year to year and cannot be guaranteed in advance.

The calculators below provide examples of how regular savings soon add up. Using the calculators helps you set a savings target.

Monthly savings calculator

Enter a monthly amount and how many months you want to save for and click 'Calc'.

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Protected savings

Central Liverpool Credit Union is a member of the Financial Services Compensation Scheme (FSCS).
FSCS can pay compensation to depositors if Central Liverpool Credit Union is unable to meet its financial obligations. Depositors, including most individuals and small businesses,  are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share. Therefore,  a joint account held by two eligible depositors, means the maximum amount that could be claimed is £85,000 each (making a total of £170,000 maximum payment for protected deposits).

The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with Central Liverpool Credit Union, including their share of any joint account.

For further information about the scheme (including the amounts covered and eligibility to claim) please contact us or refer to the FSCS website. You can also call 020 7892 7300 or 0800 678 1100.