Our Loyalty Account is designed for longer term savers with larger deposits.
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?
How to open an 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, Harrogate, Craven or the London Borough of Barking & Dagenham, or by associated with one of our partners.
Operating the account
- You can open a Loyalty Account online, in branch or by downloading and posting an application form.
- You can manage your account online, in branch or via our mobile app.
- Minimum opening deposit: £1,000
- Minimum operating balance: £1,000
Closing the account
- The account must be maintained for at least 12 months from the date of opening.
Can I withdraw the money?
- You must give at least 60 days’ written notice to close the account.
- You can make one withdrawal each year via our branches, online or via our mobile app.
- If a dividend is paid, it is paid gross of tax, that is with no tax deducted.
For existing members, simply email firstname.lastname@example.org, 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
, which describes how we use our members' information.