Q How can I put money into my account?

A1. You can pay in cash at our office at 11 The Square, Cumnock KA18 1BG.

A2. You can arrange payments by one of the following methods:

  • Bank transfer,
  • Standing Order. Click here to link to a standing order form.
  • We can also accept cheques made out to 'Sovereign Credit Union' if you write your member number on the reverse.
  • If you work for East Ayrshire Council you can arrange for regular direct payments to be sent to us by the payroll department.

Q. Is there a minimum amount for saving?

A. No. It's up to you how much and how often you save.

Q. How can I withdraw money from my savings?

A. Withdrawals are normally made by bank transfers. Just call or visit our office, or obtain a withdrawal form by following this link.

Q. Is there a fee for adult members?

A. There is no joining fee. All adult members are charged an annual fee of £5 which is deducted from their Ordinary Savings Account on or near the 1st of October each year. (If a member wishes only to have a Christmas Savings Account then a nominal Ordinary Savings Account is opened in their name to hold £5 from their savings pending each 1st of October.) There is no fee for junior members.

Q. What happens if my savings balance falls below £5?

A. If there is less than £5 in your Ordinary Savings Account, and/or your annual fee is not paid, then the account becomes dormant. However, the account can be reactivated at any time simply by resuming saving.

Q. Is there an annual fee for junior members?

A. There is no joining fee nor annual fee for junior members.