Our Rates

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. 

This page shows our rates for savings and loan products. To find our mortgage rates, please visit our mortgages page.


Savings accounts that pay a dividend

The previous gross dividend rates for our savings products

Member Account

2013 2014 2015    2016 2017
2.5% 1.75% 1.8% 1.4% 1.25%

Notice Plus Account

2013 2014 2015 2016 2017
3.5% 2.75% 2.8% 2% 1.75%


Savings accounts that earn interest


1st August – 31st October 2018 1st November 2018 – 31st January 2019
Tax Free Rate AER Rate Tax Free Rate AER Rate
1.19% 1.2% 1.29% 1.3%

Tax Free Rate is the contractual rate of interest payable where interest is exempt from income tax.

Reserve Account

 1st October – 31st December 2018 1st January – 31st March 2019
Gross Rate AER Rate Gross Rate AER Rate
1.19% 1.2% 1.29% 1.3%

Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law, currently 20%.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.


Interest Rates on Loans

Loan rates apply from 26th February 2018

Type of loan Rate (APR)
Member Loan
Under £4,999
£5,000 – £6,999
£7,000 – £25,000
Student Officer Loan 5.9%
Budget Account A monthly fee
Revolving Credit 12.7%
Loyalty Loan 5.5%
Holiday Loan 10.9%
Christmas Loan 10.9%
New Year Loan 10.9%
Commutation Loan 8.9%
70+ Loan 9.9%

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 £25,000.      


Loans Information

Administration Fee None
Early Repayment Fee None
Default Fee None
Type of Interest Fixed
Basis of Calculation Daily