Save
with us
We want to help everyone to build up savings, no matter how much or how little money they have.
Having savings helps us to plan for the future, budget for holidays and special occasions and ensure that it’s easier to deal with emergencies and unexpected events.
- Save through your bank, your pay, your benefits or in person
- Become a member and shareholder in the organisation not just another customer
Savings with Moray Firth Credit Union is a better way to save. You are not just another customer but an active member of a highly successful financial cooperative. And once you become a member by paying a £2 membership fee, you have a share in the ownership of the Credit Union.
By saving on a regular basis, you build up a pot of money. You can save from as little as £1 per week to whatever maximum you choose. The maximum savings that any member can hold is £10,000.
Remember the secret is to save regularly – members are often surprised by how much and how quickly it mounts up!
Benefits of becoming a member
- Flexible & Convenient Loans
- Attractive dividend on savings (Subject to Profits)
- Quality service with no hidden fee
- Save by Standing Order or by visiting the offices
- Online access to balance
- All covered by Financial Service Compensation Scheme
Main Savings Accounts
The savings in this account may be used as collateral for a loan if the member wants to borrow.
Sub Savings Accounts
It is possible to have more than one savings account. You may want an account for Christmas or holidays or for car repairs etc. Sub account savings are not used as collateral for loans
FAQs
To join Moray Firth Credit Union you must live, work or study in Moray or Nairn.
When you complete our online membership form you will be asked for for proof of address and photo ID.
Withdrawing your money is a simple process and there is no hidden charge. Payment is made to you either in cash, by cheque or by BACS into your nominated bank account.
All money saved by Credit Union members is pooled together. This pool of money is then used to give members low-cost loans should they wish to borrow.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank/building society/credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the bank/building society/credit union, including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call 0800 678 1100 or 0207 741 4100.