1.  Members Saving Accounts

 Savings are encouraged within the Credit Union. A clear savings record pays dividends - literally! Potential benefits include:

  • Getting out of debt 
  • Buying a home 
  • Sending a child to university 
  • Purchasing a car 
  • Providing for retirement 

Save a little - Get a lot

Saving for the things you need may be easier than you think.  Your credit union is there to help you make an improvement in your financial situation, no matter how good it is!

Start today!

Don't miss a chance to improve your life. Call at Kilrea & District No.5 Credit Union Ltd. to set up an appointment to see how you can start. Saving a little each week can add up to big savings. Review the chart below to see what saving only £10 a month can do to change your financial situation. Multiply these numbers by four to see what you could save if you were able to put away £10 a week!

How Your Money Can Grow
Savings Based On £10 Monthly Deposit


With 2% Dividend

With 4% Dividend

1 year



5 years



10 years



15 years



20 years



British Pound amounts are compounded monthly.

 2.  Under Age Depositor Accounts

Young people can save at the Credit Union too! Legally speaking, their account must be administered by their parent or guardian until they become 16 years old but they can have an account from day 1, literally. Their money, up to a maximum of £10,000, is put in a secure bank account and all interest earned there is added to the young person's account at the end of the year.

Eventually, when the youngster reaches the age of 16 years, the savings balance is transferred to a new adult Share Account where the shares can accumulate up to a legal maximum of £15,000 in value. At 18 years the share account holder is eligible to apply for a Credit Union loan if they so desire. Any such loan has to be for a non-frivolous purpose!


Ayn Rand

Money is the barometer of society’s virtue.

 A creative man is motivated by his desire to achieve,

not by his desire to beat others…..