Cash ISA Terms and Conditions Version 1.1
Download Cash ISA Terms and Conditions Version 1.1(PDF)
General Information
- Please also refer to the general terms and conditions of Credit Union membership.
- This account is closed to new applications however existing members who already hold a Cash ISA will continue to earn interest.
- As part of membership with No1 CopperPot, you are required to save at least £5 per month into your Member Account.
- This account does not qualify for a dividend payment.
Key Product Information
| Account name | Cash ISA |
| What is the interest rate? | Current and previous interest rates can be found on our website: www.no1copperpot.com.
The interest on this account is paid monthly. |
| Can No1 CopperPot change the dividend rate? | The interest rate on the Cash ISA is variable and reviewed monthly. If the interest rate changes, notification will be made via the website in advance. |
| How do I open and manage my account? | We are no longer accepting new applications for the Cash ISA, nor are we accepting new funds to be deposited into the Cash ISA.
Each adult member can hold a maximum of £40,000 savings across all our accounts. You can check your Cash ISA balance on our app and website, or by calling us on 0161 741 3160. |
| Can I withdraw money? | You can withdraw your money via our app, website, email, post, or over the phone. However, once you withdraw your money you will not be able to deposit it back into this account.
Withdrawal(s) and closure of this account is available without notice. If you close your Cash ISA, interest will be paid at the end of the month into your Member Account. The amount of interest will be calculated up to the day of closure. If you choose to leave the Credit Union, no interest will be paid on your account. For information on transferring your Cash ISA please see here https://www.gov.uk/individual-savings-accounts/transferring-your-isa. |
| Additional information | The interest is paid tax free*, which means that you do not have to declare it on your tax return.
*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. |
Life Protection
Life Protection is included with all our savings accounts and covers you up to your 65th birthday. This does not cost you anything, it is simply another benefit of saving with the Credit Union. Your savings are protected up to a maximum of £40,000 per member. This means your savings could be doubled in the event of death, subject to our terms and conditions. All benefits are paid at the discretion of our Board of Directors. Life Protection is not an insurance policy and is not guaranteed. For more information, please visit www.no1copperpot.com.
Financial Services Compensation Scheme
No1 CopperPot Credit Union is covered by the Financial Services Compensation Scheme (FSCS). Your eligible deposits are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information please visit www.fscs.org.uk.
Complaints
If you are unhappy with our service, please let us know to give us the opportunity to rectify it. You can make a complaint in person, by phone, or by email. We will always aim to resolve complaints immediately but in some cases, we may need to investigate further.
- By day 5 If we have not managed to resolve your complaint by the close of business on the third business day following the day on which it was received, we will contact you with an update/acknowledgement.
- 4 weeks If we are still investigating your complaint in 4 weeks, we will contact you to let you know.
- 8 weeks We will send you a final response within 8 weeks, however our aim is to resolve your complaint well before this.
No1 CopperPot Credit Union is a member of the Financial Ombudsman Service, which offers an independent review service. If you are not happy with the outcome of your complaint, you can ask the Financial Ombudsman Service to look at your case for free.
The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
Telephone: 0800 023 4567
Email: complaint.info@financial-ombudsman.org.uk
Website: www.financial-ombudsman.org.uk
V1.1
Approved: 26/11/25
Cheadle Royal Business Park,
Cheshire, SK8 3GX
