Rewarding our members with a market leading savings return

Serve and Protect CU are pleased to announce that a 1% return was paid on their easy access savings accounts for the Financial Year 2020 – 21.

Our free employee benefit is here to help employees in the Police, Prison, Military, Fire and Health services save and borrow with repayments straight from your pay.

As a not-for-profit financial cooperative, we provide a truly ethical alternative to other financial providers, where members save in order to help provide access to affordable credit for their colleagues.

Here to help you save, there if you need to borrow.

With over 38,000 members the credit union is helping employees within the markets we serve more than ever before.

To help you make the most of your savings, here is a short summary of our savings products, including the most recent dividends paid and saving limits:

Regular Saver

Our Regular Saver paid a return of 1% to our members in the last Financial Year (2020 – 21). Every member must save a minimum of £10 per month in this account, with the maximum monthly savings limit of £1,000.

Although there is no maximum limit on your combined savings within this account, your total combined savings are covered by the Financial Services Compensation Scheme up to a maximum of £85,000.

Flexi Saver

Our Flexi Saver paid a return of 1% to our members in the last Financial Year (2020 – 21). This is a lump sum savings account where you can make additional deposits up to a maximum of £20,000. There is no minimum monthly savings requirement.

The dividend is only paid on balances up to £20,000 within the Flexi Saver, so if you have a historical balance that exceeds this amount you may want to think about where this is saved.

Junior Saver

Our Junior Saver paid a return of 1% to our members in the last Financial Year (2020-21). Junior Savings Account are for any children or grandchildren that may live at your address. The maximum Junior Saver balance is £10,000 and you can save either monthly or make one off lump sum deposits.

At 18 years of age, the Junior Account holder has the option of becoming an Adult Member, with access to the funds that have been saved. Until this point you have full control and can withdraw the funds at anytime.

Prize Saver

The PrizeSaver gives you the chance of winning a monthly cash prize of £5,000. Savers who put away as little as £1 will have a chance to win up to £5,000 every month. The maximum amount that can be held in this account is £200.

The monthly prize draws take place on the 15th of each month. Open a PrizeSaver today to be in with a chance of winning £5,000 in the next monthly prize draw.

Remember: Not only does the credit union offer a market leading return, but your savings are also covered by Free Life Cover up to the value of £25,000 – so should the worst happen to you and you pass away, we double the first £25,000 of your savings and pay it to your next of kin or beneficiary (Subject to T&Cs).

Immediate family members are also eligible to open savings accounts, as long as they live in the same household of an existing member of the credit union.

To find out more information and to start saving visit: https://serveandprotectcu.co.uk/save

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