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NewsSavings accounts
27 September 2016
Savings accounts

The interest rates on some of our savings accounts are changing. This will affect our Cash ISA, Child Trust Fund Account and the Children’s Savings account.

A dividend is still payable on our Member Share Account, which is decided at our AGM – the rate last year was 0.5%.  

Summary of interest rate changes 

Cash ISA 

The current rate is 1.2% AER. 
The new rate from 01/11/2016 will be 0.85% AER.

Child Trust Fund 

The current rate is 2.5%. 
The new rate from 01/10/16 will be 1.75%.

Children’s Savings Account – Money Munchers 

The current rate is 1.5%.
The new rate from 01/10/16 will be 1.0%.

We are making these changes following widespread reductions in interest rates at other institutions which themselves followed the Bank of England’s Base Rate reduction in August.

Having now seen where competitor interest rates are ending up, and in order to maintain the competitiveness of our savings and loan products, as well as acting in the wider interests of all of our members we’re unable to maintain our interest rates at the previous level.

We are confident that our rates remain competitive with other savings account interest rates, many of which are now even lower.

Please don’t hesitate to let us know if you have any questions regarding this change by emailing us info@bristolcreditunion.org.uk, or by calling us on 0117 924 7309.

How to contact Bristol Credit Union

Main Branch

112/114 Cheltenham Road
Bristol, BS6 5RW

By phone

Call us on 0117 924 7309

By email

Find Us here:
Bristol Credit Union Tel: 0117 924 7309 Fax: 0117 989 2540 Email: info@bristolcreditunion.org.uk Web: http://www.bristolcreditunion.org
© Bristol Credit Union 112/114 Cheltenham Road, Bristol BS6 5RW Tel: 0117 924 7309