Savings Account
Our Savings Account offers flexible deposits and easy access to your money.
Saving with Northern Oak couldn’t be simpler! You can save as much or as little as you like, as often as you like! Pay in at our Service Points, at convenient local shops via Paypoint or direct from your bank.
Withdrawals are available without notice at our Head Office and with a little notice at our various Service Points. There is free life cover* provided for members meaning your chosen beneficiary could receive as much as double the amount of your savings in the event of your death.
Christmas Saving Accounts
Christmas accounts are designed to help our members budget for the extra expense of Christmas without the high cost of using “hamper companies”, or savings clubs.
Compare the benefits of saving with Northern Oak. You receive cash not vouchers so it’s your decision how and where to spend your money. Your money is safe because we are regulated by the Financial Services Authority unlike the alternative unregulated saving clubs.
Young Savers Accounts
If you have children, grandchildren, or any other children in your life, why not help them start saving today?
Young Savers Accounts are for anyone under the age of 16 however the young person will also need a trustee to help them manage the account on their behalf. A trustee could be a parent, guardian or relative. The young person can pay into the account but cannot make withdrawals without the permission of their trustee.
When the young person reaches 16, they become an adult member and responsible for their own money. As an adult member they are entitled to vote at the Annual General Meeting.
Loans
A Northern Oak loan is a safe affordable way to borrow money. Cheaper than most doorstep lenders, and safer than the unregulated lenders.
All members are eligible to apply for a loan.
You should normally have been saving with us for at least twelve weeks before applying for your first Standard Loan. This will be charged at our standard interest rate.
New Members who need a loan urgently can apply for one of our Access Loans which, if granted, will be charged at a higher rate of interest.
Members who would prefer to take a loan rather than withdraw their savings, can apply for one of our Secured Loans and will be charged at a lower rate of interest.
All our loans come with no arrangement fees, no hidden charges, no penalties for early repayment and free life cover*. Interest is calculated on the reducing balance and charged on a daily basis.
Loans are approved subject to status and your savings record to date.
click here for details of rates and examples.
*Subject to restrictions
Great deals on Electrical Appliances & Beds from the Co-operative for all our members!
Your Credit Union is committed to delivering additional benefits & cost saving opportunities for all our members and we are pleased to announce our exclusive offer from the Co-operative Group on electrical appliances & beds.
Simply click here or click on the banner on this page to enjoy the fantastically low prices. In fact, The Co-operative are so confident about their pricing they will even price match against Comet, Curry’s & Argos in the unlikely event you find the item cheaper. Simply call their expert sales team on 0845 7000 100 for more information.
So, if it’s a new TV or kitchen appliance you are looking for, or maybe you want to treat yourself to a new laptop – The Co-operative has a great deal for you.
As an additional exclusive offer, The Co-operative will remove your old model free of charge when you buy any major kitchen appliance.
How does it work?
Simply click here or click on the banner on this page and view the exceptional prices available on line, or alternatively you can call & speak to one of their expert sales team. Once you have selected your item you can select a delivery date to suit you. The Co-operative will then e-mail or text you on the evening before the delivery of larger items to confirm a two hour delivery slot so you don’t have to wait in all day, with 99.8% of all deliveries on delivered on time. Smaller items are delivered on a next day basis via a trusted national carrier.
The Co-operative – Good for everyone