- Online Bank Account
Regular savings in a Community Bank General Saver account offers a buffer if things go wrong when you’re least expecting them. Even a small amount of savings can soften the blow and help you avoid resorting to expensive borrowing. Save as much as you can, as often as you can.
Access to your money – there are no penalties for withdrawing money, so you can take it out whenever you want
Watch your money grow – dividends are paid annually but are dependent on the financial position of the bank
Manage your account your way – online, in branch or by telephone
Pay in to suit you – by cash, cheque, standing order, payroll deduction or by paying in a benefit of your choice
Ethical savings – by saving with the bank you are allowing other local people to borrow who would otherwise be unable to access high street lending.
As a member the maximum you can save with us is £15,000. You must live or work in Derbyshire to become a member.
We only pay interest on our interest bearing accounts. These include:
Interest is paid annually and the rate is set by the Board of Directors prior to each financial year.
Go to the relevant product page to find out the current rate of interest.
Dividend
As a community bank owned and controlled by our members we do not pay interest in the same way as most savings accounts. Instead we pay an annual dividend to each ‘savings’ account. The dividend rate is set at the AGM taking into account the financial position of the bank. The dividend rates paid previously:
2016/17 – 0%
2015/16 – 0.5%
2014/15 – 1%
2013/14 – 0.5%
2012/13 – 0%
Please note we only pay a dividend on savings held in the general saver or one of our other savings accounts.
Junior Saver Accounts do not qualify for a dividend, as young people are not eligible to be members, but their savings accounts are also considered to receive an annual return.
Important information:
Your dividend is paid gross of tax so you should ensure you meet any taxation responsibilities that may be due. Our financial year runs October to September.
Responsible employers are always looking for ways to provide staff benefits to their employees. Financial worries are a huge concern to employers and workers alike. Debt can cause stress and depression which can lead to reduced productivity or even absences.
Do you know what state your finances are in? If not, get a clearer picture of your financial health with our links to money advice and support. Get to grips with your finances today!
