How do I open a savings account?

Our friendly team will help you through the simple application process. You can open a savings account at any of our service points. You can find more information about your local collection point on the 'Collection Points' page.

How do I save?

You can start saving from as little as £1 per week and save any amount up to £35,000. Deposits can be made at any local service point by cash or cheque. You can even set up a standing order to make regular payments to your savings account, direct from your bank account.

We have arranged with some employers in Newcastle and Gateshead that staff can pay into their savings accounts directly through their payroll. If you would like further information about this please call our Head Office on (0191) 276 7963

Are my savings secure?

You can be sure that your money is in safe hands with us. We are authorised and regulated by the Financial Services Authority (FSA), which means that we operate to the same standards as any bank or building society. We are here for you and we always put the needs of our members first.

Do I earn interest on my savings?

Instead of receiving annual interest on your savings, members receive a share of our annual profits, known as a dividend. The dividend is paid annually after the annual general meeting. Please note there is no guarantee a dividend will be paid each year.

Can I withdraw my money?

You can withdraw money from your savings account at any time. However, if savings are used to apply for credit there are restrictions on the amount of withdrawal.