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25 July 2017


Savings as shares in a Credit Union are a better way to save. You are not just another customer but an active member of a highly successful financial co-operative. Yes, you have a share in the ownership of the Credit Union.

Ways for you to save and with withdraw your money


  • Make direct transfers on a regular or one off basis from your bank account to our bank account. Our bank account is with The Co-operative Bank, account number 65520509, sort code 08-02-28
  • Pay in money to your account over the telephone using your debit or credit card
  • Visit our office and pay in cash
  • Send us cheques made payable to K&C Credit Union Limited
  • Payroll deduction through employer sponsored plans

You can save as much or as little as you like up to 15,000 GBP. Please always quote your membership number with any transfer or cheque sent to us.

Withdrawing money

Withdrawing your money from the credit union is easy. Simply telephone us on 020 7605 6341 or e mail us at stating your name, membership number, how much you would like to withdraw and which account you would like the money to go to.

If the account you ask us to transfer the money to is different to that we have on record we will telephone you and ask a number of security questions.

If your request for transfer is made before 15.30 on a working day we will action your request before close of business that day. If the request is made after 15.30 on any working day your request with be actioned the following working day.

If for some reason we are not able to action your request to transfer we will attempt to make contact by telephone to discuss with you.

Money transfers from us to you will be made using the faster payment system and will usually appear in your account within 2 hours of the payment being sent by us.

If you have any queries or questions regarding withdrawing your money from your credit union account please telephone us and we will be pleased to help.

Dividends or Interest:

It can be confusing for people who have no experience of credit unions that their saving account has a dual role. Many people only have experience of interest bearing savings accounts in banks. When you save at a credit union you automatically become a member and we call your saving account a share account. As a member you have a share in the ownership of Your Credit Union. You will be invited to attend the Annual General Meeting and participate in electing new Board members, agreeing the accounts of Your Credit Union and voting on the annual dividend and other proposals by the Board. Each member has one vote regardless of the size of their share account.

Throughout the year your money is lent out to qualifying Your Credit Union members who pay interest on their loans. That interest is used to pay for the running costs of Your Credit Union and any dividend that can be returned to the members. At the Annual General Meeting the Board will propose how much dividend can be returned to shareholders. The dividend can range from 0% at smaller credit unions to 3% at some of the larger credit unions. Our dividend for the last 2 years (2013/14 and 2014/15) has been 2%.

Your Credit Union Tel: Email: Web: