Christmas Savings

Christmas Savings Account

Why not put something away each week

Pay in any time and take out from November onwards

It doesn't take long for Christmas to creep up on us each year, and at Ayrshire Credit Union we know that it can be expensive time, and we like to encourage our members to save regularly. That's why we created our Christmas Savings Account. so why not open an account today and start putting something away each week; it soon mounts up.

  • I am over 16
  • I live or work in Ayrshire
  • I am looking to save for Christmas throughout the year

How can I pay in to my savings account?

Members of Ayrshire Credit Union are encouraged to save regularly, and that's why we try and make it as easy as possible:

  • You can pay-in at our office at 24 The Foregate, Kilmarnock, KA1 1LU
  • You can also pay by Standing Order
  • We can also arrange payroll deductions for employees of our Payroll Partners
  • You can even pay in at any Post Office or Paypoint outlet (Payments take around two business days to reach your account and we ask that you pay in a minimum of £10)
  • Members can also have their Benefits paid directly to their shares

How easily can I withdraw my savings?

All withdrawals over £500 can be made by either Bank Transfer or Cheque - visit the Credit Union office and request a withdrawal form. Christmas Shares can only be withdrawn from November each year.

Is there a minimum amount I must save?

No. You can save as much or as little as you like, as often as you want. You can save from 50p to £15,000 (across all share accounts) - the choice is yours!

How safe is my money?

Credit Unions are authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to ensure the Board and other Volunteers make prudent decisions and take good care of the members money. Alongside the banks and building societies, the Financial Services Compensation Scheme (FSCS) also covers Credit Unions. And of course, if you feel we have not dealt properly with your complaint, you can also turn to the Financial Ombudsman Service (FOS).

Ayrshire Credit Union provides Life Insurance at no direct cost to Members.

Our Life Savings Insurance is a unique value added benefit which gives you a level of additional cover you simply would not get with traditional banking institutions.

Savings at date of death will be doubled up to member’s 65th birthday. Savings made after age 65 and up to the member’s 80th birthday will have 25% added (maximum cover £5,000).

Conditions apply (for full information please speak to one of our volunteers).

This additional insurance cover provides invaluable support to bereaved families and many of our members rely on this to help contribute to funeral costs.

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme. Find out more about the FSCS Depositor Guarantee.

We are also authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. This means that we meet strict conditions for trading, we are required to submit information on our financial performance to the regulators every three months. In addition all of the senior decision makers within the credit union have to be vetted by the regulators.