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Find Your Ideal Savings Account
Whether you are saving for a holiday, Christmas, a grandchild or just for a rainy day, Bridgend Lifesavers Credit Union can help you to plan for the future with a range of savings accounts tailored to suit your needs.
- Adult Savers: We offer flexible, easy savings accounts. Once you have become a member of the credit union, there are no monthly costs and you can make as many or as few deposits and withdrawals as you need.
- Student Savers: Through our partnership with Bridgend College we have developed a Student Savings account suitable for anyone over the age of 16 and still in education. You have full control of your money and can even deposit your EMA direct into your account, ensuring you are regularly putting money aside for when you need it.
- School Savers: By working directly with schools, Bridgend Lifesavers are able to offer a pupil-led school savings scheme. By combining financial education and family learning within the community we aim to help teach children from an early age the value of saving while learning valuable money management and life skills.
- Junior Savers: Our Junior Savings accounts are perfect for anyone that wants to save for their children or grandchildren, under the age of 18. The accounts pay an annual interest and can only be accessed by the person who has set up the account.
- Payroll Deduction: We work in partnership with a number of organisations to provide savings direct from the employees pay. There couldn’t be an easier way to save money on a regular basis.
- Community Accounts: Our Community Accounts are suitable for any community group, business or charity looking to bank deposits or grant cheques with an ethical, flexible and community-based organisation.
For more information about all the Savings Accounts we offer, please follow the links at the top of this page.
Setting Up a Savings Account
Setting up an account couldn’t be easier. You can either join online or at any one of our branches or collection points.
Remember, if you are joining by post or in person you will need to bring your completed membership form together with two acceptable proofs of identification.
It costs just £1 to join but remember that this is the only cost that you will have in opening a savings account with us. Furthermore, your membership entitles you to a range of fantastic benefits, including free life and loan insurance and access to low-cost, affordable loans.
Benefits of Saving With Bridgend Lifesavers Credit Union
More and more people are recognising the benefits of joining their local credit union so why not make the right choice today and find out how much we can do for you.
- Regular Savings: You can choose the amount you save, whatever works best for you – weekly, fortnightly or monthly.
- Low-Cost Loans: By saving with Bridgend Lifesavers Credit Union you gain access to affordable loans with no administration or set-up fees and no early repayment charges.
- Online Account Access: All members have 24-hour online account access so you can check your balance and watch your savings grow.
- Your Savings are Safe: Bridgend Lifesavers Credit Union is regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) and is a member of the Financial Services Compensation Scheme (FSCS) so you can rest assured that your money is protected. For further information on the FSCS depositor’s compensation scheme, please follow the Ethical & Secure link at the top of this page.
- Supporting your local community: Saving with us helps us to invest in the community and allows us to pool member savings to help other people in the community. It remains your money but goes a long way to helping others.
- Annual Dividends: Savings are eligible for an annual dividend, depending upon profits made and reserves met.
Flexible Ways to Save
- Deposit cash or cheques at one of our branches in Sarn, Bridgend town centre or Pontycymmer
- Deposit cash or cheques at any of our community collection points as detailed on our Contact Us page
- Set up a regular standing order to your savings account. You can set this up online or complete a standing order form and we will do the rest. Please note that if you set this up online you must use your membership number and surname as a reference
- Set up payment via payroll membership (participating employers only)
- Pay benefit payments direct into your account
Flexible Ways to Withdraw
You can withdraw your savings at any time by completing a share withdrawal form or by contacting us at any of our offices.
- BACs: Direct transfer to your bank account. Once you have done this for the first time, all subsequent transfers can be arranged over the telephone
- Cash Withdrawal: Up to £100. Please allow 24hrs notice
- Cheque Cashable in to your Bank Account: Please allow 3 working days for the cheque to be processed
Acceptable Forms of identification
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In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the credit union, including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility) please ask at your local branch, refer to the FSCS website or call 0800 678 1100.