Find out how to save with the Credit Union
Savings - Larne Credit Union Ltd.

Share Accounts

Savings are known as shares and each share you hold is equal to £1. The maximum amount of shares an individual member may hold in Larne Credit Union Limited is £18,000.

At the end of each financial year we declare a dividend on each share that you have held for that year. The more shares you have, the greater the dividend you will receive.

Credit Union savings are now protected by The Financial Services Compensation Scheme. This guarantees savings of up to £85,000 so all members can be assured that their savings are secure.

You can withdraw your savings at any time provided they are not pledged as security for a loan.

The maximum share lodgement limit will be £1000 per transaction (this applies to Shares and Easy Shares combined).

Paying In Options – Payments can be made by cash, cheque, debit card, standing order or direct debit.

Dividend

Larne Credit Union Limited does not make a profit. Any surplus income is returned to you, the member, in the form of a dividend.

Life Saving Insurance

This is a free Life Insurance cover which Larne Credit Union Ltd provides to all eligible members as an additional incentive to save regularly and maintain savings.

Easy Shares

Members may open an additional Easy Share Account. Easy Shares are the basis of an excellent budgeting system. You can deposit or withdraw when you want!

Paying In Options

By Cash, Cheque, Direct Debit or Standing Order.

Added Protection

Credit Union savings are protected by The FSCS. This guarantees savings of up to £85,000 so all members can be assured that their savings are secure.

Easy Access

You can withdraw your savings at any time provided they are not pledged as security for a loan.

Any person age 16 and over can apply to join Larne Credit Union Limited, provided they live or work within BT40 or specific areas within BT38, BT39 & BT44.

The minor accounts in Larne Credit Union Limited are important, as hopefully the minors will become full members when they reach the age of 16. Up until that time the parents open savings accounts for them, the maximum amount of savings is £5,000. Any withdrawals from minor accounts can be made by the parent if the child is less than 7 years old. If 7 years old and over both minor and parent signatures are required.

At the age of 16 the minor is eligible to join Larne Credit Union Limited as a full member. We would like to inform parents that at age 16 the savings would legally belong to the minor and they would have access to these funds. We would envisage that at 16, the minor would become a full member and continue to save with the Credit Union, availing of the services we provide and giving of their service to us if they wished. They would not be eligible to borrow until they reach the age of 18.

Deposits paid into a minor account can only be in the form of cash or cheques made payable to the minor.

Become a Member

Eligibility


Any person age 16 and over can apply to join Larne Credit Union Limited, provided they live or work within the common bond of membership.

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If you would like more information please contact us today.

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