Fixed-Term Savings | Welcome to Enterprise Credit Union
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Fixed-Term Savings

Get more for your money with a Fixed-Term Savings Account. Choose the term that works for you, enjoy a guaranteed return, and have the confidence that your savings are fully protected.

Open a Fixed-Term Savings Account
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The window for this exclusive offer opened on Monday 1st April 2025, and is now closed. We hope you were able to take advantage of this limited-time offer while it was available.

Benefits of an ECU Fixed-Term Savings Account

Our fixed-term savings accounts offer higher returns and security for your hard earned savings… 

  • Get More For Your Money: Enjoy our highest savings interest rates of up to 5%.
  • Avoid Temptation: Limited withdrawal encourages disciplined saving habits and less temptation to dip into your savings.
  • Peace of Mind: Your savings are protected up to a value of £120,000 by the Financial Services Compensation Scheme (FSCS), providing additional security and reassurance.
  • Free Life Savings Cover: Your savings come with added security. If the unexpected occurs, it doubles the value of your savings across all accounts up to £15,000.
  • Support Your Local Community: Your investment helps your community grow.

About the Fixed-Term Savings Account

Fixed-Term Saving is a smart and secure way to grow your money over a set period of time. With our exclusive offering, you can choose from Silver, Gold, or Platinum accounts, each tailored to suit your investment needs.

Explore the details of our exclusive fixed-term accounts below:

Account type: Silver

Value of Savings
Term
Interest Rate
Start Date
Maturity Date
£2,500 – £10,000
12 Months
3.25%
1st April 2025
31st March 2026

Account type: Gold

Value of Savings
Term
Interest Rate
Start Date
Maturity Date
£11,000 – £20,000
12 Months
4.25%
1st April 2025
31st March 2026

Account type: Platinum

Value of Savings
Term
Interest Rate
Start Date
Maturity Date
£2,500 – £10,000
24 Months
5%
1st April 2025
31st March 2026
p
For more information, access our FAQs page.

Documents and Terms & Conditions

Savings Accounts FAQs

How do I withdraw my savings?

You can withdraw money from your Share Account at any time, unless it is secured against a loan. If you have a loan, savings held in your Share 1 account are locked in as security. Any balance above the loan amount can be withdrawn. Savings held in term deposit accounts are subject to their own terms and conditions.

Withdrawals can be requested online or using our mobile app, or in person at any of our branches (cash withdrawal limits apply). Funds are normally paid directly into your bank account. Members can also make faster withdrawals up to £100 online or using our mobile app. Payments are sent to your bank within seconds and this service is available 24/7. Larger withdrawals will continue to follow the standard withdrawal process.

For fraud prevention, we can only pay withdrawals into a bank account in your name. If your bank account details are not shown, please contact us so we can verify them. Standard withdrawals requested before 3.00pm on a working day (Monday to Friday, excluding public holidays) are processed the same day and usually reach your bank after 4.30pm. Requests made after this time will be processed the following working day.

Can I withdraw my Attached Savings?
If your attached savings are more than your loan balance, you will be able to withdraw those shares. Attached Savings are a condition of our loans and enable our Members to build up savings easily, giving financial options and flexibility.
Do I earn interest on my savings?

All members are part-owners of the credit union and share in its success. Instead of paying interest on regular savings, we pay a dividend when the credit union performs well. This dividend is proposed by the Board of Directors and voted on by members at the AGM.

Once approved, the dividend is normally paid into your account the following day. The amount you receive depends on how much you have saved over the financial year (1 October to 30 September). It is worked out in a similar way to interest and is based on your savings balance throughout the year. This means your dividend is calculated using your daily balance — so keeping money in your account for longer can increase the dividend you earn.

Interest is also paid on some special term savings accounts, such as the Gold Account which have their own terms and conditions. Find out more information about our interest-bearing accounts by clicking here.

Is the dividend taxable?
Credit union dividends are treated by HMRC in the same way as interest on savings accounts. It should be declared in your tax returns but can be part of your non-taxable Personal Savings Allowance. Tax on savings interest – GOV.UK (www.gov.uk)
Is there a maximum for savings?
The maximum one member can hold can be no greater than 1.5% of the total non-deferred shares in the credit union across all savings accounts and we would discourage members to hold more than the FSCS maximum cover of £120,000. Full details of the FSCS scheme can be found by clicking here.
Can I open an additional savings account?

Yes, members can open additional savings accounts to help manage money for different goals, such as budgeting, Christmas, or general savings. These extra accounts can make it easier to set money aside for specific purposes while keeping everything in one place.

To find out more about the different savings accounts we offer, visit our savings accounts page. If you would like to open an additional savings account, please contact us and we’ll be happy to help.

Can I open a Junior Savings Account?
At Enterprise Credit Union we offer a Young Savers Account which is open to the family of our members, up to the age of 18. The account can be opened by adult members on behalf of the young person they choose. This is a great way to encourage good saving and spending habits in young people and to prepare for their future. For more info click here.
What happens to a Junior Savings Account when they reach 18?
The account will automatically transfer to an adult members account.
Do we offer joint accounts?
No, we only offer single membership accounts.
What is meant by a Nominee?

Credit union members can nominate a person (known as a beneficiary) they would like their savings to be paid to in the event of their death. This nomination allows us to release up to £5,000 without the need for probate or letters of administration, helping funds reach loved ones more quickly when they are needed most.

We encourage all members to complete a Nominee Form and to keep it up to date if you wish to change your beneficiary or if your circumstances change. To add or update your nominee or beneficiary, please contact us.

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