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Prize Saver

The Prize Draw
Savings Account

Our Prize Saver account offers you the exciting opportunity to win while you save!

Financial Services Compensation Scheme logo

Serve and Protect: Your go-to for saving and winning

Everyone knows that saving money is essential. Having some cash saved for those unexpected bills or maybe that holiday you have been dreaming about is a great feeling. But saving feels even better when it offers you the chance to win! When you choose to save with Prize Saver, the prize draw savings account, you get exactly that!

Why choose our
Prize Saver account?

There are loads of benefits to enjoy by opening a Prize Saver account:

Monthly Prizes of up to £5,000

You could be lucky enough to win £5,000 in the Prize Saver monthly prize draw. At least 20 additional cash prizes are also available each month!

Open an Account With Just £1

You can open your prize draw savings account with as little as £1 or as much as £200 – the choice is yours.

No Withdrawal Fees

You can withdraw your cash whenever you like without any penalties and can even close your account without being charged a fee.

Free life cover

If the worst should happen while you are a member of Serve and Protect, we’ll match the first £25,000 saved and your family will receive the total amount.

How does the Prize Draw Savings Account Work?

Here’s how the Prize Saver account works:

Apply online

Our Prize Saver application process takes only a few minutes to complete. Existing members are invited to apply anytime. If you’re not yet a member, you’re welcome to apply for a Prize Saver account; however, you must join us first. After becoming a member, simply return to this page to finalise your Prize Saver application.

Fund your account

Once everything is all set up, your Prize Saver account will be ready for deposits. If you mention in your application that you’re looking to add some new funds, we’ll send you all the details you need to make that deposit. Or, if you prefer to transfer funds from an existing account you already have with us, no worries at all! We’re here to take care of everything for you.

Monthly prize draws

Once your account is funded, you’re all set for a chance to win up to £5,000 every month! The monthly prize draw mostly takes place from the 15th to the 20th of each month. And guess what? If you’re one of the lucky winners, you’ll know within just two days. Good luck!

Frequently Asked Questions

Every month, there’s a prize draw of £5,000, along with at least twenty smaller prizes of no less than £20. Open an account today for a chance to win!

Absolutely! You have the flexibility to withdraw your money whenever you need it. Just use your online banking, mobile app, or give us a call, and we’ll assist you in withdrawing the desired amount.

You can easily open your Prize Saver account with just £1, and you can save up to £200. Once your account is set up, you’ll have the flexibility to make additional deposits. You can transfer funds from your existing accounts or make a one-time deposit.

You might need to pay tax on the interest or dividend you receive from your savings accounts with us. This will depend on your personal financial situation. For more information, please visit https://www.gov.uk/apply-tax-free-interest-on-savings

Rest assured, all our savings products are protected by the UK’s Financial Services Compensation Scheme (FSCS), guaranteeing your savings up to £85,000. Any deposits exceeding the current limit are not covered. For additional details about the FSCS, please visit www.fscs.org.uk

To open a Prize Saver account, you’ll need to become a member of our credit union and save a minimum of £10 per month in our Regular Saver account.

Don’t worry if you’re not a member yet – you can become a member for free here.

Once you join, head back here to complete our Prize Saver application, and our friendly support team will assist you.

To get a Prize Saver account, simply fill out the form below. We’re here to help you every step of the way!

All our savings accounts include free life cover up to £25,000 (up to the age of 65). This means, should the worst happen, your savings could be doubled up to the first £25,000, allowing you to support your family when they need it most. 

The free life cover benefit is subject to the terms and conditions of Serve and Protect Loan Protection and Life Savings policies, arranged by CMGL and underwritten by Covea Life Ltd. Note that this protection is a benefit of membership provided at no extra cost to the member. The Credit Union is the policyholder for Loan Protection and Life Savings.

How to apply?

If you’re already a member, our Prize Saver account is just the thing for you. Just fill out the form below to get started. It’s that simple! 

Results

Results are unveiled between the 15th and 20th of each month and winners are contacted directly once the monthly prize draw has been made. Good luck!

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