Little and often builds a nice savings pot
Free deposits and withdrawals
Your savings are protected at all times
Be eligible for a dividend, when paid
Save with us
Regular savings soon build up into a nice pot, working towards your financial goals and building a fitter future.
Your savings also go towards helping others in your local community in Kent.
That’s an all round win-win.
Christmas Savings account
Spread the cost of Christmas, as well as the love and joy!
Save weekly or monthly to be ready for the festive season! You get all the benefits of our Share account, with ‘instant access’ in November and December.
- split regular savings between your Christmas Savings and Share accounts
- have some of your Child Benefit paid directly into a Christmas Savings account – get Christmas wrapped up early!
Contact us for details.
Save & borrow as you earn
Kent Savers links with businesses to offer savings and loans to their employees via a Payroll Deduction scheme. Kent Savers offer reduced interest rates on loans through this scheme.
If your employer is not already part of our Payroll Deduction scheme, ask them to contact us!
Community Investment account
Would you like to invest for the benefit of your local community?
We want to help people to avoid unscrupulous, high-cost lenders and loan sharks – you can help us do that.
Find out more about Kent Savers’ Community Investment account here.
Steps towards saving
Take 3 simple steps with us towards your savings goals
Apply for membership with a Share (savings) account.
Select an amount and how you’d like to pay into your Share account.
Watch your savings grow towards your personal goals!
Choose from several ways to pay into your savings account and to make a loan payment
Engage Classic Card
We offer savings accounts to individuals or corporates, including Share (individual savings), Christmas Savings and Community Investment accounts. We offer Corporate membership to charitable and other community organisations. A Junior Savers account is available to under 18s. We do not offer ISAs or joint accounts.
To open a savings (Share) account, you must be a member of Kent Savers. To join, we require a £2 membership joining fee and £3 minimum savings balance.
A current temporary upper limit is in place for new deposits of £18,000 – existing accounts with larger balances are unaffected.
As a co-operative, Kent Savers may pay a share of reserves to members in the form of a dividend (not interest) on their shares.
Any annual dividend is approved by members at our annual general meeting. Any dividend entitlement is based on each member’s average daily savings balance. Any dividends are paid gross, as in before deduction of any tax.
Kent Savers is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including individuals and small businesses – are covered by the scheme and would be entitled to claim up to £85,000. The maximum deposit for Kent Savers is £18,000 per individual or organisation.
There are several ways to pay & save into your Share account.
Always be sure to use the correct reference for the account you want to pay into (especially if you have a Christmas Savings account as well as a Share account).
Restrictions on withdrawals apply if:
- any repayment on a loan held with us is overdue, or
- the balance of your Share account would fall below £3, or
- you wish to withdraw from your Christmas Savings account outside of November and December (in which case, your Christmas Savings account will be closed and its whole balance transferred to your Share Account).
Any Christmas Savings you still have as at 31st December are automatically rolled forward to give you a head start for next Christmas!
If you would like to transfer savings between your Kent Savers accounts, have not yet nominated a payee account or prefer not to go online to make withdrawals, please complete a Share Withdrawal Form and send it to us.
With a Community Investment account, you help others to access affordable credit when they need it most.
An investment of £5,000 helps Kent Savers to support at least 10 others with fairly priced loans of £500 or more. As these are repaid, Kent Savers can then redeploy your investment to others, which directly benefits the quality of life in our local communities.
Save from £3 up to a current limit of £18,000 and withdraw from your Community Investment account at any time.