North Tyneside Employees Credit Union Savings

NorthTyneSide-Savings

At North Tyneside Employees Credit Union, we offer a savings account and loans. To gain access to our savings account, you must become a member of the credit union.

Savings Account

At North Tyneside Employees Credit Union, we offer a real alternative to banks and building societies. Unlike a regular savings account in which you receive interest, you will rewarded for saving with us by payment of a yearly dividend. This allows you to share in the profits of the credit union.

We appreciate saving money can be difficult and so we offer many easy ways to save with us. For example, you could pay into your savings account via standing order or salary deduction, we can also accept one off payments by debit card or cheque.

FINANCIAL SERVICES COMPENSATION SCHEME

Here at North Tyneside Employees Credit Union, the safety of your money is very important to us. This is why we are a member of the Financial Services Compensation Scheme (FSCS). This means that your savings are guaranteed up to a value of £85,000 if anything were to happen to the credit union. If you would like to read more about the Financial Services Compensation Scheme

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Become a member

To become a member of North Tyneside Employees Credit Union, you must fall into what is called our ‘common bond’. This means you must work for North Tyneside Council, (or its successors) or be retired from North Tyneside Council.
From March 2011 wives/husbands and partners of members are also able to join.

Adult Members

To join the credit union, you must complete the relevant membership application form (available from the main office, outreach office or use the link below). You must provide proof of ID (e.g. driving licence, passport) and proof of address (e.g. recent utility bill) when submitting your application.

Your application will be subject to a non-refundable £5.00 administration fee and you must deposit a minimum of £5.00 into your savings account.


Membership Application Form


Chip and Pin

We are pleased to anounce that our members now have the added benefit of being able to use a debit card to make payments into their account. You can make payments either directly into your savings or an extra payment to settle your loan early, so you can apply for a new one.

This can be done in the office or for even more convenience over the telephone. In the past we have only been able to accept cheques which sometimes take upto 10 days to clear, now with the chip and pin service members could have a new loan within 4 working days.