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Corporate Members

Membership of credit unions has always been limited to individuals, but from January 2012 the law changed and permitted credit unions to accept corporate members.

Corporate Membership is for organisations rather than individuals. Businesses, charities, partnerships, clubs, societies and voluntary groups, whether incorporated or not, can become corporate members and place sums on deposit with their local credit union.

By depositing funds with us rather than a High Street Bank you know that your organisation’s money is helping the local community.

Deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS) for organisations with assets up to £1.4m. In the same way as the rest of the financial services industry, the deposits of large organisations are not covered by the FSCS. Further information can be found at: http://www.fscs.org.uk/

Kent Savers does not currently pay interest on corporate deposits. Instead, corporate deposits, together with savings from individual members, qualify for Kent Savers annual profit sharing dividend.

Deposits may be withdrawn upon request with a completed Share Withdrawal Form.

Can We Join?

Yes!

If your organisation would like to open a Corporate Membership Account with us, please complete the Corporate Membership Application Form.

Once your organisation has been allocated a membership number you will be sent details of how to deposit and withdraw funds. A £2 membership fee will be deducted from the first deposit made to your Corporate Membership account.

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Kent Savers Credit Union Tel: 0333 321 9050 Email: info@kentsavers.co.uk Web: http://www.kentsavers.co.uk
Kent Savers Credit Union is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation and Financial Conduct Authorities - Firm No. 503258