Our Services.

We offer simple and straightforward savings and loan accounts. Our Savings accounts pay a dividend (equivalent to interest) based on our financial performance. Our loans are much cheaper than payday lenders – we currently charge just 1% interest per month  (12.68% APR) – and you can pay off all or part of the loan without penalties whenever you want.
Note that we do not offer current accounts. Many of our members have a current account with a high street bank and use that to transfer money into their savings or loan accounts  with us. If you are interested in doing this, please ask for details.

The different accounts we offer are as follows:

Savings Account
Savings  accounts can be opened with a minimum of £5 and the balance must reach £25 within 6 months. You can add money  at any time subject to a maximum balance of £15,000.
Withdrawals from savings accounts require 30 days notice .
Accounts attract a dividend each year subject to the financial performance of DFCU, which is the equivalent of interest. Savings accounts also come with free life insurance. Click here for more details.
We do not offer joint accounts.

Credit Union legislation allows you to optionally name one or more beneficiaries to receive up to £5,000 in total of your DFCU assets (including any life insurance benefits) on death. Any such payment will be paid irrespective of any other arrangements you have made in relation to your estate after your death (e.g. your will).

Loans
Established members can apply to borrow up to 3 times their savings (rules apply). Interest is extremely attractive (currently just 1% per month – equivalent to 12.68% APR). When a loan is made a repayment schedule will be agreed and you will be expected to continue saving at least a small amount  regularly whilst the loan is outstanding. Members can pay off all or part of the loan without penalties whenever they want. Click here for more details of our Loans Policy. Loans are also covered by our life insurance policy – click here for more details.

Junior Account
Safe savings for Under 16’s who can learn to manage their own money.

90 Day Lock Away Account
Want to make sure you don’t dip into yours savings when you can’t resist that item calling you from the shop window? Well this account will do just that as you will need 90 days notice of withdrawal.

Christmas Club
Save up all year to help you cope with the expense of Christmas, come the end of November then all the cash will be yours (no hampers or vouchers).