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04 September 2010
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Members Savings

"It’s a habit which is good for your financial health"

Everyone benefits from regular savings, it allows us to work towards a brighter  financial future and gives us peace of mind should an emergency arise.  

Instant Access, Junior and Christmas Savings ... Why open an savings account?

• Saving regularly is a habit which is good for you and your family
• Regular savings soon add up
• Saving with TCU will give you access to loan and other services
• Saving with TCU is totally confidential
• Dividends paid annually are paid gross. Its up to you to advise the tax authorities
• Convenient ways to save regularly
• Free life insurance
• Savings are fully protected by the FSCS up to £50,000

Instant Access and Junior Savings …. everything explained

• Members of Thorne Credit Union are asked to save a minimum of £2.50 per week or £10 per month.
• Members can save as much as the want beyond the minimum membership requirement.
• Members can vary their savings, beyond the membership minimum requirement, to allow for those more demanding times such things as holidays.
• Members can deposit regularly and securely by direct debit, standing order, payroll deduction or send us cheques.
• Members will automatically receive free life assurance on their savings after twelve months.
• Instant Access savings can be withdrawn without notice using the agreed share withdrawal form. Download your Share Withdrawal form or contact the TCU Member Services Office.
• Share withdrawals will be paid directly to your bank account or by cheque which will be posted to your home address.
• There are no charges or fees for operating your savings account.
• Statements are normally issued once a year. However Members can use Online Banking or request a statement at any time.
• Savings are eligible for an annual dividend recommended by TCU Board and approved at the Annual General Meeting.
• Savings accounts are covered by the FSCS up to £50,000

TCU Christmas Club... Why open an account?

• The easy way to save for the festive season
• Save at your own pace
• Keeps your Christmas budgeting simple
• Free life insurance
• Savings fully protected by the FSCS
• Gives access to the full range of TCU services

TCU Christmas Club...How does it work?

• £1 minimum opening balance
• Save what you want at times to suit you
• All funds in a Christmas Club Account will be transferred to a members share account on 30 November annually
• No withdrawals permitted on the Christmas Club until 30 November to ensure maximum funds are available
• No Christmas Club direct debits will be claimed by TCU during December
• Christmas Club account restarts in January for the following year

Updated: 12 August 2010