This account is closed to new applications. As we are no longer allowing applications for any new ISA’s or allowing contributions into ISA’s currently held, if you withdraw any money from your ISA you will not be able to put any money back into it.

ISAs, or Individual Savings Accounts, were set up by the government to encourage people to save. A Cash ISA entitles you to earn a return on your savings completely tax free, over the period of a tax year which runs from April 6th of one year to April 5th of the following year. The Cash ISA has a projected interest rate that is paid quarterly.

Key Product Information for our ISA Account

Account Name Cash ISA
Interest Rates Tax Free Rate* AER**
1.79% 1.8%
The interest rate is variable.
Tax Status The interest is paid quarterly and is paid tax free, which means that you do not have to declare it on your tax return.
Withdrawal Arrangements Withdrawals are available without notice, charge or loss of interest. However if you withdraw all your funds, or close your account you will not receive any interest for that quarter.
Access You can withdraw your money by post, online or over the phone.
Please note we are no longer accepting new applications/monies for this product. However, existing members who already hold an ISA Account will continue to earn interest.

*Tax free rate is where interest payable is exempt from income tax. The tax information is based on our understanding of the current law and HM Revenue & Customs practice which can change.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

These measures remain temporary and are under regular review. This will help to protect the return on your existing savings over the rest of our financial year. Whilst we apologise if this causes you any inconvenience in the short term, it will benefit all savers in the long run.

Life Cover is included on the ISA between the ages of 16 to 65, meaning if the worst should happen your savings may be doubled, terms and conditions apply. For more information please see our general terms and conditions.

Rate of Return

1st May - 31st July 2016 1st August - 31st October 2016
Tax Free Rate AER Rate Tax Free Rate AER Rate
1.89% 1.9% 1.79% 1.8%


Why can't I pay into my existing ISA?

The way a credit union works means that they need to have a balanced amount of money coming in and going out. The amount of money that is put into the credit union in the form of savings needs to balance against loans and mortgages to enable the credit union to pay a healthy dividend rate on the members' savings accounts. The ISA product has stopped for the time being as too much money was being brought into the credit union and was too much to all go out on loans. If this was to continue it could harm the members' dividend rate.

Will the ISA be coming back?

There is a possibility it could be re-introduced, but we are unable to give a definite answer or date as to when it could happen.

Deposit Protection

No1 CopperPot Credit Union is covered by the Financial Services Compensation Scheme. This means that your deposits placed within the Credit Union are protected by the scheme up to £75,000 per member. If you would like to find out more information about the Financial Services Compensation Scheme please visit their website at

For information on transferring your Cash ISA please see the Building Societies Association guide.