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  028 2882 245353

  manager.ocu@omaghcreditunion.co.uk

HomeSavings

Savings

Save With Your Credit Union

Whether you're saving for something in the future, or just for a 'rainy day', regular saving is a good idea.

Regular saving with your credit union is an even better idea.

Benefits of Savings

Regular saving and sensible borrowing are key to managing your money. Your savings in the credit union are called shares.

 

  • No Transaction fees or charges

  • Many borrowing members continue to save while repaying a loan.

  • By building your share balance, you could increase your borrowing potential.

  • Join before your 70th birthday and be in good health to avail of the Death Benefit Insurance

  • Earn Dividends which are paid annually

  • FSCS compensation scheme to £120,000 as at 1st December 2025

  • Free Life Savings Insurance up to £15,000 (Ts&Cs apply)

  • Instant access as long as they are not collateral against a loan

Three Share Accounts

Main Share Account

We will consider these shares when you apply for a loan. Pledged Shares may not ordinarily be withdrawn.

Maximum Savings £20,000.

Junior Savings

Open account from birth to 16yrs old. Can avail of Death Insurance Insurance for £1.48.

Maximum Savings £10,000.

Easy Shares

Easy Shares are not pledged against your loan so they can be withdrawn at any time. This is a great place to save for Christmas, Summer Holidays, big bills like insurance and tax, and special occasions.

The maximum Easy Shares limit is £5,000.

Understanding your Savings

You can save as much or as little as you like. There is a minimum balance of £5 to keep your account open. There’s no monthly or yearly limit, but the maximum savings:

  • Adult Account – £25,000
  • Junior Account – £10,000

There are a number of ways you can put money into your Credit Union account:

  • Set up a Standing Order
  • In any of our branches using cash, cheque or debit card
  • By telephone using a debit card
    Online via our website or log on directly to our member area (registration is required)

Contact us and we can upload your statement to the secure Member Hub on our website, or we can print a statement for you in our office. We issue an annual statement of account for all our members. To reduce our carbon footprint, we encourage our members to Opt-in for E-statements via the Member Hub.

Yes, your savings are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 as at 1st December 2025. Any deposits you hold above the £120,000 limit will not be covered.

DIVIDEND

As a shareholder, you receive an annual dividend. This is your share of the surplus funds available at year-end after we have paid our bills and met our regulatory obligations. The amount of dividend you receive depends on the amount of shares, how long you have been in your account, and the performance of the Credit Union during the financial year.