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Savings

By putting a little aside on a regular basis, you not only have something to look forward to, but also something to fall back on, should the need arise. You are not just another customer but a member of a highly successful financial co-operative. Each member holds a share in the ownership of the Credit Union, and along with having a say in the operation of the Credit Union, you could also earn dividends on every share held.

Benefits of Credit Union savings:

  • Dividends payable annually based on savings balances
  • Withdrawals and deposits can be made directly to and from your bank account
  • Life cover at no extra cost – Savings doubled up to a maximum of £15,000 in the event of a claim
  • Protected by the Financial Services Compensations Scheme up to £85,000 (see FSCS information sheet and exceptions list)
  • Payroll deduction available from some employers
  • No hidden costs or charges
  • Junior accounts available


We offer a variety of savings accounts;

Regular Savings Accounts

All members are issued with a regular savings account when they join the credit union. This account can be used for general savings or to access loans after regular savings deposits are made (Terms and conditions apply).

Budget Account

Modern living involves the payment of all kinds of regular bills, such as TV license, insurances, electricity, road tax etc. Using our Budget account allows.

Instant Access Account

Savings that can be accessed at any time. These savings are unattached from any loans and cannot be used as collateral against a loan.

Christmas Saving accounts

Allows you to save throughout the year until December to help cover the cost of Christmas.

Gold Savers Account

These accounts require a one-off payment minimum £2500 maximum £10,000. No further funds can be added to the account throughout the term of the financial year. These accounts will be made available for limited periods only as set by the Board of Directors and will be closed when they reach an amount agreed by the Board.

An “Annual Interest amount of 2.5%” is payable on a Gold saver account, (Calculated on the lowest balance per calendar month)

Young Savers

Enterprise offers Young Savers account – a great way for kids and young people to save money and plan their spending on young saver.

Ways to pay:

Cash – at our office or at our ‘collection points’.
Cheque – made payable to Enterprise Credit Union Ltd.
Standing order – direct from a bank/building society account.
Various DWP benefits– deposits can be made directly to the account.
Debit Card – Via telephone or at branch

Payroll Deduction- straight from your salary current payroll partners can be found by clicking here.

The tables below give examples of how regular savings can soon add up!

Weekly Savings Table:

Amount Saved: £5 £10 £20 £25
Year 1 £ 260 £ 520 £1,040 £1,300
Year 2 £ 520 £1,040 £2,080 £2,600
Year 3 £ 780 £1,560 £3,120 £3,900
Year 4 £1,040 £2,080 £1,460 £5,200
Year 5 £1,300 £2,600 £5,200 £6,500


Monthly Savings Table:

Amount Saved: £20 £30 £40 £50 £100
Year 1 £ 240 £ 360 £ 480 £ 600 £ 1200
Year 2 £ 480 £ 720 £ 960 £ 1200 £ 2400
Year 3 £ 720 £ 1080 £ 1400 £ 1800 £ 3600
Year 4 £ 960 £ 1440 £ 1920 £ 2400 £ 4800
Year 5 £ 1200 £ 1800 £ 2400 £ 3000 £ 6000