Portadown Credit Union actively encourages its Members to save. Each £1 of savings in the Credit Union equals a share in the Credit Union. The more shares you hold, the greater the return you receive when the annual dividend is being paid. A member can hold up to £20,000 pounds in their account.
What is a minor account?
A minor account is an account held by a member of Portadown Credit Union, who is under sixteen years of age. These accounts can be set up from birth and require a parent/guardian as signatory, as well as the minor after the age of seven. A minor account also earns a interest on an annual basis, again at a performance based rate. The maximum amount permitted in a minor account is £5000.
What’s a Dividend? A Dividend is the same as interest on your savings, but because you are a shareholder in the Credit Union, it’s known as a dividend.
In 2017, Members agreed at the Annual General Meeting (AGM) on the dividend and interest rebate to be paid out. To individual Members this equated to a return of 1% on savings and an interest rebate of 40% on loans.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.