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Islington & City Credit Union is
a savings and loans
co-operative. We are all about
encouraging our membership to
save for the future and its easy
to open a savings account with
the credit union. You can also
join one of our
payroll deduction schemes if
you work for one
of the organisations listed on
the front page.
Each member automatically gets
four savings accounts which can
be used for a variety of
purposes - for example
Christmas, holidays and tax
bills.
Your savings are safe:
We are
members of the
Financial Services Authority
Compensation Scheme and the
maximum deposit into a credit
union account of £10,000 is 100%
backed by the scheme.
As a savings and loans
co-operative we redistribute our
profits to our members. The
credit union is a not for profit
agency and any surplus is either
reinvested in the business or
given to our members through a
profit sharing dividend
(1% 2009). This is like
interest on a savings account
and can be paid annually. The
more successful the credit
union, the larger any potential
dividend could be.
You can download a
membership application form
from this website. We also
answer some Frequently Asked
Questions on our
about us page.
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