Saving with us

Savings at a Credit Union are known as shares. Importantly, members are not just customers, but owners of a successful financial co-operative.

Additionally, our members have a say in how we run the business.

Benefits of saving with Knowsley Mutual Credit Union

Protected savings

Savings with the Credit Union are protected because:

Our regular share account

Save as little and as often as you like. Savings attract an annual dividend.

These deposits can be used as security when borrowing from us. Because of this, you can apply to borrow a higher amount. Additionally, you can also use up to 50% of your savings as a guarantee for another member’s loan.

Dividends are taxable

Members must declare any dividend payment to HMRC. Dividends are declared at our Annual General Meeting. Importantly, these are paid gross to members’ accounts. Remember, credit union dividends are treated as savings interest for tax purposes. Dividends are therefore taxable income.

Ready to save?

Whether you're a member or not, it only takes a few minutes to start saving with us.