What do you think of when you hear the term credit union? People often know us as a community credit union savings account and loans organisation, or even a community bank.
We reckon most people will think of the loans we offer, and we hope they’ll understand that we represent a fair and ethical alternative to most of the other mainstream lenders. We’re proud as punch that we’re a not for profit organisation and put any funds we generate back into the credit union to improve the lives and communities of our members.
The only way we can do that is with the support of our saver members, whose savings support our ability to provide loans to people in need. As a fully regulated financial organisation, we are covered under the Financial Services Compensation Scheme.
A credit union savings account also helps those saver members to build up a pot to help them deal with the kind of expenses life can so often throw at us.
You can open a credit union savings account and become one of our members in a matter of minutes because we’ve made the process as simple as possible. You can join online, and once you’ve opened your credit union savings account you can start saving.
For some members, the savings account will be somewhere they occasionally put any spare money in order to slowly build up a larger pot for the proverbial rainy day. For others, the credit union savings account will be a place to save on a regular basis.
No matter how you choose to save, you can access and manage your credit union savings account via online banking, and transfer money into the account using bank transfers, direct debits, standing orders or, if you receive benefits, direct from your benefit payments.
Paying into your credit union savings account in this way makes it easier to pay in a manageable amount on a regular basis, and before you know it the amount you have in your credit union savings account will begin to mount. The money you save in a savings account can be easily accessed at any time (subject to terms and conditions), so you don’t need to worry about getting hold of it in an emergency, and we also offer the option of direct salary savings.
Salary savings is a free service which we operate in partnership with employers and public sector organisations across Blackpool, Fylde, Wyre, Preston and Lancaster. You choose how much you want to save each month and we liaise directly with your payroll department to set up a regular deduction from your salary which goes straight into your savings account. Saving in this way is a quick and convenient way to put some money aside for when you need it, with the added benefit being that, as a member of CLEVR Money, you become eligible to apply for our fair and responsible loans if needed too (must be age 18+).
As well as a standard savings account we offer a Second Saver account which can be used to put away a sum for a specific purpose for example, and our Christmas Savings Account for the time of the year when some extra cash might come in most handy. We even offer a Junior Savings Account for members under the age of 16 to get into the saving habit early. What every type of savings account has in common is that they offer peace of mind to our members by making saving easy to do, and welcoming them into the CLEVR Money community.