Share Account

How it works

When you become a member, we automatically open a share account for you and invest £1. You can invest a little more, earning interest over £10 up to £100,000.

• No interest is paid on share account balances up to £10

• Interest at 1.5% p.a. is paid for share account balances up to £200 (including the first £10)

• Interest at 3% p.a. is paid for share account balances over £200

• The maximum amount you can have in a Share Account is £100,000

Interest is credited to your account once per year in January.

 

How to Invest

You can invest money into your share account and allow it to grow over time. You can withdraw your shares when you are ready to do so. There are three ways you can access the funds in your Membership Share Account:

1. Payment by Cheque (A Cheque Withdrawal form may be downloaded here)

2. Payment by Electronic Bank Transfer BACS  (A BACS form may be downloaded here)

3. Payment by Electronic Bank Transfer CHAPS (A CHAPS form may be downloaded here)

4. Payment into Share Account direct from your salary. Click here to complete form.

 

To read more detailed information about Your Share Account, and to begin investing funds into your account, please click here.