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Tel: 0141 445 0022 Fax: 0141 440 2294 Email: admin@nhscreditunion.com

28 March 2017
Dividend Payments

As Credit Unions are mutual organisations, we pay a dividend on our members’ savings instead of interest. This is because members are the owners of the Credit Union and not just customers. So members’ savings are classed as shares, with each share being eligible for a dividend at the end of the Credit Union financial year.

The amount of dividend we pay will depend on the financial success of the Credit Union that year as any surplus funds are returned to our members or reinvested in the business.

Dividends are decided at the Annual General Meeting each year.

Please note
The Credit Union pays dividends without the deduction of income tax. The responsibility for any tax liability lies with the individual member.

NHS Credit Union Limited Tel: 0141 445 0022 Fax: 0141 440 2294 Email: admin@nhscreditunion.com Web: http://www.nhscreditunion.com
NHS (Scotland & North England) Credit Union Ltd is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. ‘NHS Credit Union Ltd’ is a registered trading name of NHS (Scotland & North England) Credit Union Ltd.