Members’ Shares/Savings Accounts
Our FSCS protected Members’ Savings or Shares Accounts are easily accessible and a guaranteed way to prepare for the future and for a specific purpose
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Why Save with AlBirr Credit Union?
Why Save with AlBirr Credit Union?
Saving isn’t merely a habit, it’s your cushion against life’s surprises and a springboard for future goals. With our easy-access, Shariah-compliant savings account, you can:
* Prepare for emergencies without resorting to high-cost credit
* Harness opportunities from business ventures to special life events
* Benefit from profit-sharing through dividends on shares if a surplus is generated, not interest
At AlBirr Credit Union, we want to support you to get into the habit of saving. This is a targeted purposeful savings product, good for long term savings. This will encourage you to saving towards future needs, planning your finances, and learning vital lessons in managing money. Although you are in control of your money , it is expected to be the least accessible – only for intended purpose.
Our Member’s Savings Account will help you construct a Financial Plan. Regular savings is a paramount part of a proper financial planning and budgeting.
Products
Shariah Compliant Savings Accounts
Our Shari’ah advisor is Ihsan Islamic Finance Solutions (IIFS), a renowned UK Islamic finance and banking advisory firm
https://iifs.co.uk/
Tailored Savings Plans
Whether you’re planning for unexpected expenses or life’s special occasions, our Shariah-compliant savings products empower you to:
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Build a financial cushion for emergencies
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Allocate funds for religious obligations
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Plan for family holidays and celebrations
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Invest in your children’s future
How It Works
1.
Open Your Account
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Complete a simple online form
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Pay your one-off £5 joining fee (deducted from your new account)
2.
Save Regularly or Flexibly
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Set up a standing order, salary deduction or pay cash deposits
3.
Enjoy Member Ownership
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Vote at our AGM and share in the annual surplus
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Help shape products and services tailored to our community
About Our Savings Products
Our savings products are to help our members fulfil their dreams as they prepare for rainy days by setting aside a portion of their incomes as savings.
With your credit union account, you can access your savings 24/7 via our mobile & web apps. Checking your balances and payments, it’s never been easier to manage your money.
You will have a peace of mind with your savings because it is shariah compliant and we will not pay interest on it.
Your eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
Our savings products such as the YOUNG SAVERS ACCOUNTS have been developed following a customer centric approach.
With AlBirr, you manage your savings online – so you’re always in control
Making Deposits Into Your ABCU Account
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Standing Order & Bank Transfer
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Salary Savings Schemes
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Cash
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Cheques
Payment Details
Bank Name: Co-OperativeBank
Account Name: AlBirr Credit Union
Sort Code: 08-92-99
Account Number: 6742 4328
Reference: (Your AlbirrCUMembership No)
