Tel: 03030300010 Email: onlinebanking@sycu.co.uk

24 June 2017
Shares

Shares

Savings as shares in a Credit Union are a better way to save. You are not just another customer but an owner-member of a highly successful financial co-operative. Yes, you have a share in the ownership of the Credit Union. Along with having a say in the operation of the Credit Union you can also earn dividends.

Benefits of Credit Union savings

  • Savings balances over and above any loan you may have are available to you to withdraw on demand.
  • Competitive dividends on shares.
  • A savings protection scheme is in place to the benefit of the member up to £75,000
  • There are no transaction charges or fees.

For small to big savers your Credit Union is where you belong.


Types of Share Accounts

Regular Share Accounts

  • Members' present accounts with Credit Union are considered as a Regular Share Account. A Regular Share Account is a lot like a Current Account.
  • The onus is on the member to declare their account to the HMRC.
  • Dividend rate declared at A.G.M. is posted gross to members' share accounts.

Security

  • All monies received in the credit union are properly recorded and lodged regularly.
  • Full financial statements are prepared and only the individual owner-member can reveal their own statement.
  • Annual independently audited returns are lodged with the relevant authority.
  • Savings up to £75,000 are protected under the Financial Services Compensation Scheme.
  • South Yorkshire Credit Union Ltd is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.
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South Yorkshire Credit Union Tel: 03030300010 Email: onlinebanking@sycu.co.uk Web: http://www.sycu.co.uk
South Yorkshire Credit Union Limited is authorized by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and Prudential Regulation Authority. • Financial Conduct Authority and Prudential Regulation Authority Ref No 213840. • Industrial and Provident Society Regulation No 675C • Registered Office: 70 Market Street, Barnsley, South Yorkshire, S70 1SN