Manchester Credit Union urges people to make long-term savings

Christine Moore, CEO of Manchester Credit Union
Christine Moore, CEO of Manchester Credit Union

Manchester Credit Union is urging more people across Greater Manchester to open longer term savings accounts to secure a better future.

In the past 12 months, 4,996 new savings accounts were opened with Manchester Credit Union and the union has now launched a new Gold Saver account to encourage longer term savers.

Christine Moore, chief executive of Manchester Credit Union, said: “We are on a mission to make our members better off.

“When members take out loans with us, a small amount is also put in the member’s account as savings so when they have repaid the loan, they have a pot of money to start them off on the right foot.

“Our new Gold Saver account is a way for us to encourage longer term savings to help people secure a better future. The account pays an enhanced dividend, which is guaranteed to be 1.5% higher than the standard dividend paid on our instant access accounts. This means you can create a nest egg, whether that is for a deposit on a house, a holiday of a lifetime or a new car.”

The Gold Saver account needs to have a minimum £500 balance at all times, which can be paid regularly or as a one-off deposit – with one withdrawal a year.

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