Savings that earn a share of the profit.
When you save with MCU you're not lending us money. You're buying shares in your credit union. Every year, the surplus the union earns gets paid back to members as a dividend on those shares.
One share account, kept simple.
Your savings sit in a single share account, in your name, with your Member Number. You can see the balance and every transaction against it whenever you sign in to the member portal.
We don't charge account fees. The minimum balance to keep the account open is £5, and the maximum total members can hold with us is £15,000.
Pay in by bank transfer, by standing order, in person on a Saturday, or through payroll deduction with your employer.
- Open with£10 (£5 becomes your first share)
- Account feeNone
- Minimum balance£5 to keep open
- Maximum£15,000 per member
- DividendVoted at the AGM each year
- ProtectionCash reserves approved by the FSA
A return that comes from members lending to members.
Each year the Board reviews the surplus after reserves and operating costs. The rate is voted on by members at the AGM, not by a treasury desk in London.
- 01The Board reviews the year's surplus after operating costs and the regulatory reserve.
- 02A proposed dividend rate is presented at the AGM.
- 03Members vote. If approved, the dividend is paid into every share account.
The current year's declared rate and the full history of past dividends are published in our annual report.
Read the annual report →Save before you see it
Ask your employer about MCU payroll deduction. A set amount comes off your wage every payday and lands in your share account, without you having to think about it.
Payroll deduction for employees →Protected by reserves
Savings are protected up to the £15,000 maximum balance (less any loan liability) by cash reserves and funds held under an arrangement approved by the Isle of Man FSA.
How your savings are protected →