SAVINGS ACCOUNT

Savings for the expected and unexpected

As a member of Pioneer Mutual Credit Union, you are not ‘just another customer’ but you are a co-owning member of our organisation

This provides you with security and protection for your savings with us and as an ethical alternative to a bank, we use your invested savings to provide affordable finance to our members.

You can also be assured that your money is safe with us as like any bank or building society, your money is protected by the FSCS.

Saving with Pioneer Mutual Credit Unions means that you: 

  • Save at an affordable level whether it’s £1 or £100
  • Have no hidden charges or fees to pay
  • Get access to our range of exclusive loans and savings products
  • Receive free life savings protection
  • Have a range of different ways to pay into your account
  • Have our mobile app that will give you easy access to your savings

Saving and borrowing with us really does add up as it includes the additional benefit of Life Savings and Loans Protection

FURTHER INFORMATION

Paying into your savings

It’s never been easier to pay into your savings accounts with our mobile app and internet banking. If you don’t yet have these, get in touch with us and we can help you get set up.

Another simple way to save with us is through our Pioneer Payroll Savings, which is a deduction from your salary.

Find out more here

These are the different ways to pay into your savings accounts:

  • Via our Mobile App
  • Internet Banking
  • In Branch
  • Direct Debit
  • Standing Order
  • Pioneer Payroll
Making a savings plan

Regular saving allows us to set financial goals and achieve them. We can be confident that if an emergency arises that we will be able to deal with it. Committing to a regular saving pattern can be difficult but Pioneer Mutual Credit Union makes it so easy with our range of ways to deposit savings.

Whether you want to save £1 or £100, members of our credit union are able to save at affordable levels that are right for them. Small and regular amounts soon add up so don’t be put off if you can only put a little away every month. Take a look at our examples below. This shows you that even £2 per month can add up to a lot each year.

Amount Saved £2 £5 £10 £20 £25
Year 1 £104 £260 £520 £1,040 £1,300
Year 2 £208 £520 £1,040 £2,080 £2,600
Year 3 £312 £780 £1,560 £3,120 £3,900
Year 4 £416 £1,040 £2,080 £4,160 £5,200
Year 5 £520 £1,300 £2,600 £5,200 £6,500

Monthly Savings Table

Amount Saved £10 £15 £30 £40 £50
Year 1 £120 £180 £260 £480 £600
Year 2 £240 £360 £720 £960 £1,200
Year 3 £360 £540 £1,080 £1,400 £1,800
Year 4 £480 £720 £1,440 £1,920 £2,400
Year 5 £600 £900 £1,800 £2,400 £3,000