Savings

At White Cart Credit Union we encourage our members to save as we believe regular saving ensures you are working towards making the best use of your money.

You can pay into your savings by cash or cheque, over the counter at our office, by standing order from your bank or through payroll deductions with some employers.

Your money is in secure hands with us. We are authorised and regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) and members’ savings are protected by the Financial Services Compensation Scheme.

Everyone who saves with us is a member of the Credit Union, a part owner of the organisation. Members receive a share of our annual profits, known as a dividend, which is paid annually based on each member’s average level of savings.

Note: Provided you live or work in Paisley, you can open a savings account at our office. We require two forms of identification, one of which should be photographic e.g. passport or driving license and one which proves you live or work in Paisley.

Life Savings Protection

A cash benefit on your savings
Leave your loved ones a cash lump sum when you die, with Life Savings Protection*

Saving with your Credit Union really does add up as it includes the additional benefit of Life Savings Protection, which can be a real financial comfort to your loved ones should you die.

At a difficult time, a lump sum on bereavement can be a real help. It could help towards funeral costs or could be left as a legacy for your loved ones. Additional peace of mind for your family is just another benefit of being a Credit Union member.

* Subject to terms and conditions. Cover limits and certain restrictions apply based on savings balance and on age at death or age when savings were made

Life Savings Protection is underwritten by Covea Life Limited.
Covea Life Limited is authorised by the Prudential Regulation Authority and regulated by Financial Conduct Authority and Prudential Regulation Authority.

Holiday/Christmas Savings

In addition to a shares/loan account, we offer our members a separate savings only account.

Many members find that having a goal, such as a holiday or Christmas, is an excellent incentive to save. Our savings account is ideal for this purpose.

Putting money away regularly, even a small amount, is the best way of being able to cover future expenses. It not only gives you peace of mind, but can also help avoid the need to borrow.

Saving money with us could not be simpler. Unlike some other savings schemes, you can save as much or as little as you like, weekly, monthly or as often as you wish (up to our individual maximum deposit of £15,000. A minimum of £1 must be kept in your account at all times to retain credit union membership.

The overall pool of savings with the credit union is used to make loans to our members. The interest from loans is used to pay expenses; to build up reserves and the remainder may be returned to the members by way of dividend.

Members’ savings are protected by the Financial Services Compensation Scheme, currently up to a total of £75,000 per member.

White Cart Credit Union

Are you ready to join?

Feel free to contact us via the contact page or stop by. We are located in Paisley, UK