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Regular Savings Account

Start Saving with Our Regular Savings Account

Secure your financial future with a regular savings account, offering ease, flexibility, and peace of mind. Enjoy the convenience of automatic savings deductions from your pay (where available), helping you build your savings effortlessly.

Open a Regular Saver
Smiling man with a positive attitude, enjoying the benefits of saving.
FSCS logo - ensuring protection for depositors and investors in the UK.

Introducing Our Regular Savings Account

At Serve and Protect, saving is simple and automatic. Set up monthly deductions from as little as £10 per month directly from your salary, and watch your savings grow without any effort. It’s a hassle-free way to build your financial security.

Enjoy easy, consistent saving. With no monthly fees, a competitive annual dividend, and access to your funds anytime through our online banking or mobile app, saving for your future has never been easier!

Open a Regular Saver
  • Save regularly from as little as £10 per month with the ability to change your amount anytime.
  • Withdraw funds whenever you want, without restrictions or penalties.
  • Receive an annual dividend based on your average savings balance through our financial year.

What makes our Regular Savings Account special?

Achieve your goals while saving on your terms. Whether you’re preparing for a rainy day or a big purchase, our Regular Savings Account empowers you to save consistently and conveniently.

Automatic Deductions

Save without even thinking about it! If your employer is signed up, you can set up automatic deductions straight from your salary.

Easy Access

Need easy access to your funds? Withdraw your savings anytime through online banking or our mobile app with no restrictions or penalties.

Flexibility

Change the amount you save each month, whether you need to save more or less, giving you complete control over your savings.

You can also boost your savings anytime with additional deposits—whether it’s a bonus, gift, or any extra cash you want to set aside.

Competitive Dividend

Receive an annual dividend based on your average savings balance throughout our financial year, helping your money grow the smarter way.

Purpose-Driven Saving

Every pound you save supports vital roles in our community, creating a positive impact alongside your returns.

FSCS Protection

Your savings are protected up to £85,000 by the FSCS, giving you peace of mind while you save.

Happy man writing down the advantages of a Regular Savings Account, such as automatic savings and a competitive annual dividend.
Happy man writing down the advantages of a Regular Savings Account, such as automatic savings and a competitive annual dividend.
Happy man writing down the advantages of a Regular Savings Account, such as automatic savings and a competitive annual dividend.
Woman leaning back on a chair, reflecting the ease and convenience of payroll loan repayment directly from salary with Serve and Protect Credit Union.
Woman leaning back on a chair, reflecting the ease and convenience of payroll loan repayment directly from salary with Serve and Protect Credit Union.
Woman leaning back on a chair, reflecting the ease and convenience of payroll loan repayment directly from salary with Serve and Protect Credit Union.

Benefits of Payroll Savings

We work directly with employers across the police, prison, military, fire and health services to allow employees to save with convenient deductions from their salary.

With payroll savings, deductions are automatically taken from your pay each month, making life simpler. Here’s why it’s a great choice:

  • Automatic deductions mean you can save without even thinking about it.
  • Regular saving helps you maintain a healthy financial routine.
  • Steady savings growth builds confidence and security.

Start saving from your pay today and take a step closer to achieving your financial goals with simplicity and ease.

Summary Box for the Regular Saver

Here’s a quick rundown of the key points about our Regular Saver, so you have everything you need to know before applying.

Account name

Regular Saver

What is the savings return?

We provide an annual dividend based on our profits and success. This is announced at our AGM and shared with members. You can view our past dividends here.

How do I open and manage my account?

To open an account you must: 

You can open an account:

  • Online by completing an application here
  • You must save a minimum of £10 per month

How do I pay into this account?

  • If your employer is signed up, you can save with deductions from your pay
  • If not, you can set up a direct debit
  • You can also pay in extra deposits through bank transfers

How do I manage this account and get in contact?

  • You can manage your account through online banking, through our mobile app, and over the phone

Can I withdraw money?

Yes, you can make as many withdrawals as you like.

You can withdraw money:

  • Through online banking or our mobile app
  • Or by giving our friendly team a call

Please note:

  • You’re required to leave a minimum balance of £5 in your Regular Saver
  • Withdrawals made before 2pm between Monday and Friday (excluding bank holidays) will be received the same day. Withdrawals outside of this period, will be received on the next working day. 

Additional information

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. You can find more information here.

Are you ready to open our Regular Saver? Click here to get started.

Frequently Asked Questions

We require all our members to save into our Regular Saver.

  • You have the flexibility to save as little as £10 per month through regular deductions. Start small or aim higher – the choice is yours! 
  • Monthly deductions can be made via salary deduction if your employer has signed up, or through direct debit.
  • You can change the amount you save at any time, and you have the option the make additional deposits via bank transfer.

At our AGM (usually in December) we will announce the annual dividend for the Regular Saver (based on our profits), and this will be paid into your account.

Yes, the account is easy access which means you can withdraw as often as you like. Withdrawals made before 2pm Monday to Friday (excluding Bank Holidays) will be paid the same day.

Our annual dividend for our Regular Saver is announced and paid following our AGM (usually in December).

Your dividend is based on the average saving balance throughout our financial year (October to September).

When you save monthly with deductions from your salary, please keep in mind that the deductions are taken after taxes and any other pre-tax deductions.

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

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Unsure how much to save? Use our Savings Calculator to work it out!

Savings Calculator

Ready to Apply?

Build your savings with confidence, flexibility, and ease. Join thousands of members taking control of their financial future with a Regular Savings Account.

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FSCS (Financial Services Compensation Scheme) logo, representing financial protection and compensation for eligible savings.

Your Savings Are Safe

Feel secure knowing your savings are protected. With Serve and Protect, your funds are covered up to £85,000 by the Financial Services Compensation Scheme (FSCS). This means you can save with us confidently, knowing your money is in safe hands.

Learn More About FSCS Protection

Helping You Understand Savings Terms

We know financial jargon can be confusing, so we’ve simplified some of the key terms you might come across:

Annual General Meeting (AGM)

An AGM, or Annual General Meeting, is a gathering where our come together to review the year’s performance, discuss key decisions, and announce the annual dividend. It’s a vital opportunity for members to have their say and stay involved!

Annual Dividend

The annual dividend is a yearly thank-you to credit union members, based on their savings and the union’s success.

Financial Year

The financial year for credit unions is a 12-month period between 1 October and 30 September.

Payroll Savings

Payroll savings is a convenient way to save monthly by automatically setting aside a portion of your income into a designated savings account.

Personal Savings Allowance

The amount of interest you can earn tax-free, depending on your tax band.

Confused by financial jargon? Visit our Jargon Buster for more helpful explanations.

Archived Rates

Below, you’ll find an archive of the Regular Saver annual dividends we’ve paid, allowing you to easily track what was provided and when.

Financial yearEffective periodAnnual dividend
2023/202401.10.2023 - 30.09.20243.50%
2022/202301.10.2022 - 30.09.20233.50%
2021/202201.10.2021 - 30.09.20221.75%
2020/202101.10.2020 - 30.09.20211.00%
2019/202001.10.2019 - 30.09.20201.20%
2018/201901.10.2018 - 30.09.20191.00%