When you join Gateway, we encourage you to save regularly, even if it is only a few pounds a week or month. We know that it can sometimes be difficult to save and we try to make it as easy and convenient for you as we can. If you are not sure which account or payment method would suit you, please give us a call or drop in for a chat.
We rely on our members savings to be able to give loans; we don't borrow on the money markets or take risks with your savings. We also know that our members appreciate the peace of mind that comes from having savings, often for the first time.
If you're fortunate enough to have savings already why not place some of it with Gateway Credit Union? Your money will be accessible, 100% safe and earn a dividend when we make a surplus. Plus your savings will be put to good use in the local community by being loaned to fellow members.
We currently have five types of savings account for adults
and two for children
All adult savings receive the same dividend (0.25% in 2016-17, 0.1% in 2017-18.). Our Cash ISA currently receives 1.25% AER whilst all children's savings receive annual interest of currently 1.9%.
We charge an annual membership fee of £5 when you join, and then £2 deducted from your Share Account at the end of September from your second year of membership. The minimum to open a Share Account and become a member is £8;-£5 membership fee and £3 into savings.The current maximum shareholding per member allowed under our current rules is £30,000.
We have lots of convenient ways to pay into your savings or loan account. You can use any or all of them, whatever suits you best. Click here for details
Most members register a bank account with us for phone and online withdrawals up to £2000. Alternatively you can call in or post us a signed withdrawal form. We will send you a cheque or make a transfer to your bank account. Withdrawals are generally processed on the same working day as we receive them.
Keeping track of your savings.
When you open an account we will issue you with a card and your membership number. We will normally send you an annual statement, but you can request a statement at any time. We offer an online members area for PC users, and a web app for your tablet or smartphone.
If you want to keep track of your cash payments, ask us for a passbook.