Year-end dividends are calculated from income and are credited to the Member Account and Notice Plus Account annually, following the Annual General Meeting. Interest is paid on the ISA and the Reserve Account quarterly.Â
Savings accounts that earn a dividend
The previous gross dividend rates for our savings products:
Member Account, Family Member Account, Festive Fund Account and Junior Account
| 2021 | 2022 | 2023 | 2024 | 2025 |
| 1.00% | 2.25% | 3.50% | 4.50% | 4.00% |
With our Notice Plus Account you can earn a higher dividend rate, by agreeing to give us at least 90 days’ notice before you make a withdrawal.
| 2021 | 2022 | 2023 | 2024 | 2025 |
| 1.50% | 2.75% | 4.00% | 5.00% | 4.50% |
With our Five-Year Regular Saver account, members save monthly over a five-year term. Each year, the account earns a premium dividend rate that is at least 0.5% higher than our standard Member Account rate.
| 2024 | 2025 |
| 5.00% | 4.50% |
Savings accounts that earn interest
ISA
This account is closed to new applications. However, existing members who already hold an ISA will continue to earn interest.
| 1st – 31st August 2026 | 1st – 30th September 2026 | 1st – 31st October 2026 | |||
| Tax Free | AER Rate | Tax Free | AER Rate | Tax Free | AER Rate |
| 3.75% | 3.82% | 3.75% | 3.82% | 3.75% | 3.82% |
Tax free rate is the contractual rate of interest payable where interest is exempt from income tax.
Gross interest is the annual interest rate earned on savings, without factoring in introductory bonuses, compounding, charges, or taxes.
AER represents the annual percentage of interest earned on savings, including compound interest (interest on interest already paid). Our AER is variable, meaning the interest rate on your savings account can increase or decrease.
| 1st – 31st August 2026 | 1st – 30th September 2026 | 1st – 31st October 2026 | |||
| Gross Rate | AER Rate | Gross Rate | AER Rate | Gross Rate | AER Rate |
| 3.75% | 3.82% | 3.75% | 3.82% | 3.75% | 3.82% |
Gross interest is the annual interest rate earned on savings, without factoring in introductory bonuses, compounding, charges, or taxes.
AER represents the annual percentage of interest earned on savings, including compound interest (interest on interest already paid). Our AER is variable, meaning the interest rate on your savings account can increase or decrease.
Interest Rates on Loans
Loan rates apply from 29th September 2023.
| Type of loan | Rate (APR) |
| Member Loan | |
| £0 – £4,999 £5,000 – £35,000 | 12.89% 7.9% |
| Consolidation Loan | |
| £0 – £4,999 £5,000 – £25,000 | 12.89% 10.9% |
| Student Officer Loan | |
| Up to £10,000 | 6.5% |
| Budget Account | |
| Up to £2,000 | A monthly fee |
| Revolving Credit | |
| Up to £5,000 | 12.68% |
| Loyalty Loan | |
| Up to £40,000 | 5.5% |
| Holiday Loan | |
| Up to £4,999 | 12.89% |
| Commutation Loan | |
| Up to 50% of commutation entitlement or £100,000 (whichever is lower) | 10.9% |
| 70+ Loan | |
| Up to £5,000 | 12.89% |
| Christmas Loan | |
| Up to £2,000 | 15.89% |
| Credit Builder Loan | |
| Up to £5,000 | 24.9% |
| Green Loan | |
| £0 – £4,999 | 11.89% |
| £5,000 – £35,000 | 6.9% |
APR stands for Annual Percentage Rate and represents the total cost of credit on a loan.
Please be aware that the maximum lending across all unsecured loans is £35,000.
Loans Information
| Fees | |
| Administration Fee | None |
| Early Repayment Fee | None |
| Default Fee | None |
| Interest | |
| Type of Interest | Fixed |
| Basis of Calculation | Daily |
Mortgage RatesÂ
Standard Variable Rate Mortgage
| Product Description | Standard Variable Rate |
| Interest Rate | 6.0% |
| Overall Rate for Comparison | 6.2% APRC* |
| Product Fee | £595 |
| Early Repayment Charge | None |
| *The actual rate available will depend upon your circumstances. Ask for a personalised illustration. | |
Rates correct as at 16 April 2024.
| Product Description | Two Year Fixed Rate (up to 95% LTV) | Three Year Fixed Rate (up to 95% LTV) |
| Initial Interest Rate | 5.59% | 5.59% |
| Followed by SVR | 6.00% | 6.00% |
| The Overall Rate of Comparison | 6.2% APRC* | 6.1% APRC* |
| Product Fee | £995 | £995 |
| Early Repayment Charge | 3% | 3% |
| The initial interest rate will be fixed for two or three years from the advance of the loan. | ||
*APRC stands for the Annual Percentage Rate of Charge. It is an annual interest rate which takes account of fees and charges to reflect the total cost of your mortgage. The APRC allows you to easily compare quotes from different lenders.
**ERC of 3% of the outstanding loan amount is payable at the time of redemption during the fixed rate period. You will not be charged an early repayment charge for making overpayments, which are permitted up to 10% of the original mortgage advance per annum.
Cheadle Royal Business Park,
Cheshire, SK8 3GX
