Save For Any Reason
Savings for a dream
At Acorn Community Bank you can open up as many savings accounts as you wish, so you can save up for different reasons
This way you can save up for birthdays, school uniforms, holidays and anything else that’s important to you. This will help you to plan your finances.
You can transfer a lump sum of money from your Regular Savings Account, set up a regular payment by bank transfer or pay in cash at one of our collection points.
If you are already a member and would like to open an extra savings account, please call our office on 0303 030 0147 or write to firstname.lastname@example.org. Don’t forget to quote your membership number. They will open up an account for you right away.
If you are not a member, then join up now and ask for an extra savings account to be opened alongside your regular savings account.
- Reduce the cost of your holiday by avoiding costly credit
- Funding the additional costs of school holidays
- Savings protected under the FSCS scheme
- Maximum £60,000 balance
- Easy access to funds when you need it
- Transfered to share account on request
- No penalty for withdrawals
The Extra Savings Account offers members the ability to save for any reason. Funds in these accounts are available for withdrawal at any time
There is no penalty for making withdrawals, and there is a potential dividend paid annually on savings. Money in extra savings accounts (apart from the main Shares account) cannot be used as security for a loan.
Financial services compensation scheme
All accounts benefit from our participation in 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 most individuals and small businesses – are covered by the scheme.
For further information about the scheme (including the amounts covered and eligibility to claim) please refer to the FSCS website