Saving

Savings in a credit union are known as shares and these share savings are the working capital of the credit union.

Members of credit unions pool their savings which then provides a pool of funds from which loans are made.

Regular savings with your credit union can help you to build up a substantial savings account.

The table below shows how your savings can accumulate and does not take into consideration any dividend which might be due.

Years

£2 p/wk

£5 p/wk

£10 p/wk

£20 p/wk

£25 p/wk

1

£104

£260

£520

£1,040

£1,300

2

£208

£520

£1,040

£2,080

£2,600

3

£312

£720

£1,560

£3,120

£3,900

4

£416

£1,040

£2,080

£4,160

£5,200

5

£520

£1,300

£2,600

£5,200

£6,500