We make it easy for members to manage their money and work towards financial goals with Savings Pots. You can create up to 3 savings pots within your Member Savings Account in order to save for different purposes.
What are savings pots?
Savings Pots allow you to split your savings into up to three separate pots to help you save for different purposes — like holidays, emergencies, or Christmas spending.
You can create:
- Two Standard Savings Pots
- One Christmas Savings Pot (with special withdrawal terms and conditions)
Savings Pots can only be managed using our Mobile App.
Savings pots are ideal for saving regularly, but there is no requirement to do so.
Christmas Savings Pot
Our Christmas Pot is designed to help you save for the festive season. Please note:
- A £5 fee applies to any withdrawals made outside the months of October, November, or December
- No regular contributions are required, but setting up a regular deposit to your Christmas pot is an ideal way to save funds for the festive period.
Savings Pot contribution & balance terms
- Minimum pot balance: £0.01
- Maximum pot balance: £85,000 (subject to aggregate limits across all accounts)
- Minimum regular pot contribution: £10
- Maximum regular pot contribution: £1,000
If the balance in a savings pot reaches to £0, it will be automatically closed within 90 days.
Features & Benefits
- Eligible for annual dividends (same as the Member Savings Account)
- No requirement to save regularly
You can also:
- Name your savings pot
- Set a savings goal
- Lock the pot to prevent withdrawals and help you stay on track with savings goals
If you need support using Savings Pots or have any questions about setting goals or managing your contributions, our team is here to help. You can also manage and track your pots anytime through our Mobile App.