MCCU -Additional Savings account

There may be times when you want to save money for a particular purpose, and would like to keep the money in a separate account.

We can open an additional account for you which is separate from your normal Savings Account.

There is no extra membership fee and you do not need to keep a minimum balance. However, Additional Savings Account balances cannot be used to support or guarantee a loan application.

Just as you can with your main Savings Account, you can choose to save weekly or monthly, at any branch, by Standing Order from a bank account, or, if your employer runs this scheme, by payroll deduction.

The maximum amount that you can save with the Credit Union, including all of your Savings Accounts, is £10,000.

You can withdraw money from your account when you need it. Amounts up to £200 in cash can be withdrawn without notice. Larger cash amounts and cheques must be requested in advance - subject to availability of funds, we aim to have the money ready for collection on the next day of opening.

Additional Savings Accounts balances attract the same rate of dividend as we pay in respect of ordinary Savings Accounts. On 30 September 2006, we paid a 1% dividend.

You can open an additional Savings Account at any branch.