Regular Saver

Open to all members. Build up savings through regular monthly contributions. No guaranteed interest but dividend payable from Churches Mutual's surplus. Deposit straight from your bank or by deduction from salary and you can choose to make deposits into your Regular Savers' Account in the way that suits you best:

  • Bank Standing Order – a fixed amount on a fixed day sent to Churches Mutual by your bank.
  • Payroll Deduction – a fixed amount deducted from your salary at source and sent to Churches Mutual by your employer.

There is no limit on the amount of savings deposited monthly into the regular savers account however we do ask that the amount is affordable within your monthly budget. This is particularly important as due to overheads relating to withdrawals we have had to take the reluctant decision to charge an admin fee of £1.20 for every share withdrawal over and above six per credit union year (1st October - 30th September).

The following employers are currently part of the payroll deduction scheme:

  • Methodist Connexion
  • Church of England Church Commissioners/Pensions Board 
  • Church of England NCIs
  • Church of Scotland
  • Church in Wales
  • United Reformed Church
  • CrossReach
  • Diocese of Oxford
  • Diocese of Salisbury MAT
  • RC Diocese of Westminster
  • St Vincent de Paul Society
  • Alethiea Anglican Academies Trust
  • The Good Shepherd MAT
  • The Springfield Project, Birmingham

If you work for an organisation within our common bond which does not offer payroll savings but would like to please contact us at admin@cmcu.org.uk.

Save Each Month After 6 Months After 1 Year After 3 Years After 5 Years
£10 £60 £120 £360 £600
£25 £150 £300 £900 £1500
£50 £300 £600 £1800 £3000
£150 £900 £1800 £5400 £9000

Although it may not sound like it the Regular Saver's Account is also the account for you if you wish to make a one off deposit between £100 and £1995 and so do not qualify for the Premier Investment Account (although we will always encourage you to add to your savings at any time).

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