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Saving with Rugby Credit Union

When you join a Credit Union you become a Member and your savings are known as shares. Every Member is entitled to attend and vote at a General Meeting of the Credit Union. It makes no difference how much money is in your savings / shares account, because credit unions are a cooperative, the principle is one member - one vote. Members OWN the Credit Union and when the Credit Union makes a surplus it is divided amongst Members as a dividend.

How do I save?

There are many ways you can pay into your Account at the Credit Union:

  • By standing order or Bank Transfer (Our Account/Sort Code details are on the bank standing order form).
  • By payroll deduction - simply asking your employer to make a regular deduction from your salary.
  • By having a benefit payment directed to your Credit Union Account.
  • In person at our office with cash or by cheque made payable to Rugby Credit Union.

How much do I have to save?

As much or as little as you wish.

The maximum value of shares (savings) a member may hold is currently limited by law to £15,000.

Your savings are fully covered by the Financial Services Compensation Scheme

Junior Members

The Credit Union encourages young savers. Credit Unions in the UK have many young savers - encouraging them from a young age to get into the saving habit. Children, grandchildren, nieces, nephews or any child under 16 can join as junior members. As Junior Members they may save any amount each week or month and enjoy instant access to their savings. We endeavour to pay an annual dividend to our junior savers. Once they reach 16 Junior Members qualify for full membership, becoming eligible for loans at 18. By being members of the credit union, they have the opportunity to borrow money when they most need it - such as when they go to university, or buy their first car. The maximum Junior members may save is limited by law to £5,000. There is no membership fee for young savers.

To find out more visit our Junior Savers page where you can also download an application form.

Contact the office for further information.

How do I access money in my Account?

To manage your account online or by phone you will need to set up a nominated account that you wish to have money paid into. You will also need to have provided security & password responses for our staff to verify your identity and confirm your instructions.

Your shares/savings can be withdrawn to your nominated Bank Account, transferred to your Credit Union Engage Debit Card or collected in cash or cheque from the office (subject to our cash limits).

Please complete the Share Withdrawal Form (below) or download and email to us. The Credit Union will contact you to confirm your instructions and complete anti-fraud security checks. Bank transfers will normally be completed same day but please allow 24 hours for BACS processing.

Our Office hours are 10am-3pm Mon-Thursday. We can only process payments on these days.

Share (Savings) Withdrawal Form

Please transfer the sum below from my Share (savings) account.
Please tick how you want your savings paid:
Thank you
Your request has been submitted.
A member of staff will be calling you to verify your withdrawal request
Oops! Something went wrong while submitting the form.

Document Downloads

You can choose to download a file in PDF format or in Microsoft Word.


To withdraw your share (savings) please download and complete this from.

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With competitive interest rates and repayments tailored to suit your circumstances – look no further than a RCU loan.

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Saving with RCU is easy and convenient.
Every member is given a savings account, which you can use to save for whatever you want!

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Check your balance online, in exactly the same way you would with a high street bank. Plus use your Engage Visa Card to make purchases.

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