ISA

This account is closed to new applications. However, existing members who already hold a Cash ISA will continue to earn interest.

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.

ISA’s, 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. 

Summary box for the Cash ISA

Account Name Cash ISA
What is the interest rate? Tax Free Rate* AER**
1.39% 1.4%
The interest on this account is paid quarterly.
Can No1 CopperPot Credit Union change the interest rate? The interest rate on the Cash ISA is variable and reviewed quarterly.

If the interest rate changes, notification will be made via the website with a minimum of 30 days’ notice.

How do I open and manage my account? We are no longer accepting new applications for the Cash ISA, nor are we accepting more money to be deposited into the Cash ISA.

You can view your ISA balance online or request your balance over the phone.

Can I withdraw money? You can withdraw your money online, by 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 account is available without notice.

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.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

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


Interest Rate

1st May – 31st July 2019 1st August – 31st October 2019
Tax Free Rate AER Rate Tax Free Rate AER Rate
1.29% 1.3% 1.39% 1.4%

  Terms and Conditions

  • As part of membership with No1 CopperPot, you are required to save at least £5 per month into your Member Account.
  • If you close your ISA, interest will be paid at the end of the quarter 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.
  • This account does not qualify for a dividend payment.
  • This account includes Life Protection, up to age 65. Terms and conditions apply

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 £85,000 per member. This scheme was set up to provide a safety net should a bank, building society, or credit union become insolvent. If you would like to find out more information about the Financial Services Compensation Scheme please visit their website at www.fscs.org.uk or visit our FSCS information page.

Life Protection

Life Protection equivalent to double the value of your savings up to a maximum of £40,000 per member and loans are protected up to a maximum borrowing of £40,000 per member, this means that your loan would be cleared, ensuring that your debt does not remain outstanding, subject to 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. Life Protection is applicable to members up to age 65. More information and terms and conditions can be found here.