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Good afternoon, welcome to the East Kilbride Credit Union web site. It is Sunday, 20th May, 2012, 05:14 PM
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 HELP/FAQs

Welcome to our help section. Please select a category below to find answers to some of the most common questions.

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Can I withdraw my shares if I have a current loan?
You can only make a withdrawal if the balance of your shares is greater than the balance of your outstanding loan. If this is the case, you would be able to withdraw the difference between the two balances.
Are my savings secure?
The Financial Services Authority (FSA) took over responsibility for regulating credit unions from 2002. All credit unions will have to operate under the same rules as the banks and building societies and will be part of the Financial Services Compensation Scheme (FSCS).
Can I withdraw my shares at any time?
Yes, you can withdraw your shares at any time you like as long as you do not have an outstanding loan with us. Just remember to bring some form of photographic identification with you such as a passport or driving licence.
How do my shares affect my borrowing power?
The more shares you have the more power you have when it comes to borrowing from the credit union. This is based on regular saving deposits and not on share loading. Share loading is where members make large deposits over a short period of time in order to secure a loan.
How much can I save and how often?
You can save as much as you want whenever you want. There is no set limit and what you pay in is your own choice. The maximum amount you can save in East Kilbride Credit Union is currently £45,000.
What is a shares 2 account?
You can have a second savings account called shares 2. It is not possible to take a loan out against this account. It is simply for saving and means that you can have access to savings when your shares 1 is held as collateral for any current loan you may have outstanding.
 
 
Authorised & Regulated by the Financial Services Authority. Registration No 213849. © 2012 East Kilbride Credit Union Ltd. All Rights Reserved.