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Loyalty Account

Our Loyalty Account is designed for longer term savers with larger deposits.

Account name

  • Loyalty Account

What is the interest rate?

  • Unlike banks and building societies, we don’t pay an interest rate on your savings. Instead, we aim to pay a quarterly/annual dividend to all qualifying members. The amount of the dividend is set by the Leeds Credit Union Board each quarter/year. Please be aware that some years no dividend may be paid.

How do I open and manage my account?

  • You must be aged 18 or over
  • You must be a member of Leeds Credit Union. To become a member you must live or work in Leeds, Wakefield or the London Borough of Barking & Dagenham, or by associated with one of our partners.
How to open an account
  • You can open a Loyalty Account online, in branch or by downloading and posting an application form.
Operating the account
  • You can manage your account online, in branch or via our mobile app.
  • Minimum opening deposit: £1,000
  • Minimum operating balance: £1,000
  • The account must be maintained for at least 12 months from the date of opening.
Closing the account
  • You must give at least 60 days’ written notice to close the account.
Can I withdraw the money?
  • You can make one withdrawal each year via our branches, online or via our mobile app.
Additional information
  • If a dividend is paid, it is paid gross of tax, that is with no tax deducted.
  For existing members, simply email services@leedscreditunion.co.uk, quoting your membership number, and the savings account you would like to open. Our team would be happy to help. If you are not a member of the credit union already, you can apply online, in branch, or download our application form. Find our Terms & Conditions here. You can also view our Privacy Policy, which describes how we use our members' information.