Latest News

25 May 2024

Complete our member survey

For those who enter, there will be a choice to enter a draw to win 1 of our 10 local business vouchers (of your choice)

18 May 2024

Office Closure: Tuesday 28th May

Upcoming bank holiday closure

11 May 2024

Local member volunteers in South Africa

A fantastic experience for local member

30 Apr 2024

PCU attends ILCU AGM 2024

The event took place over the 27th and 28th April

29 Apr 2024

Office Closure: Tuesday 7th May

Upcoming bank holiday closure

25 Apr 2024

PCU help St Mary's YCFC head to Scotland

St Mary's YCFC are off to Scotland

25 Apr 2024

Donation made to St John’s P.S Gilford

PCU made a donation to St John's P.S, Gilford

22 Apr 2024

18-25 years old could win £500!*

Take a car loan out with PCU for the chance to win*

19 Apr 2024

PIPS participates in the School Quiz Final

Dhruv, Jack, Keegan and Ezra participate in the final


Save with your Credit Union

Save with your Credit Union

Portadown Credit Union actively encourages its members to save. Every £1 of savings a member holds, equals a share in the Credit Union. The more shares you hold, the greater the return you receive when the annual dividend is being paid. A member can hold up to £15,000 pounds in their account.

Benefits of Credit Union savings

  • Easy access to your money once it is not used as security against a loan
  • No hidden charges or fees on any transactions
  • Life savings insurance for eligible members (Terms & Conditions apply)
  • Nomination of account proceeds

As of 1st May 2021, Portadown Credit Union have introduced monthly savings limits. These limits are:

Adult accounts£2000 per calendar month
Minor accounts£250 per calendar month

This decision was taken in the best interest of all members of the credit union.

In recent years, Portadown Credit Union has experienced a significant increase in the average level of savings held by individual members. We welcome this display of confidence by our members in our financial strength and commitment to the community.

However, due to the very changed regulatory environment in which credit unions around the country are now operating, there are downsides to such an increase.  Under financial regulations, we must maintain reserves.  Reserves are what protect the credit union from risk.  The credit union’s reserves are taken from the credit union’s yearly surplus.

This can have the effect of depleting the amount available to pay a dividend at year end (please note there is never any guarantee of a dividend or a rebate being paid by the credit union and is always dependent on a number of internal and external factors).  It also reduces the amount we can afford to invest in new services and new technology options that can benefit all of our members.

The Board of Directors has therefore taken the difficult decision to put in place a monthly savings limit on the amount that members can lodge with the credit union.

If you have any questions, please do not hesitate to contact our office.


What is a minor account?

A minor account is an account held by a member of Portadown Credit Union, who is under sixteen years of age. These accounts can be set up from birth and require a parent/guardian as signatory, as well as the minor after the age of seven. A minor account also earns a interest on an annual basis, again at a performance based rate. The maximum amount permitted in a minor account is £5000.


What’s a Dividend?

A Dividend is the same as interest on your savings, but because you are a shareholder in the Credit Union, it’s known as a dividend.

In 2022, members agreed at the Annual General Meeting (AGM) on the dividend and interest rebate to be paid out. To individual members this equated to a dividend return of 0.50% on savings and an interest rebate of 25% on loans.

Are my savings secure?


Credit union members can rest easy in the assurance that their savings are safe. Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:

  • All officials of credit unions, whether volunteers or staff, must be fidelity bonded.
  • Members savings within certain limits are insured through Life Savings Insurance.
  • All monies received in the credit union are properly recorded and lodged regularly.
  • Full financial statements are prepared and can be examined by members.
  • Annual independently audited returns are lodged with the relevant authority, FCA/PRA.

Financial Services Compensation Scheme

From 31 March 2012, when authorisation and regulation of Portadown Credit Union passed to the Financial Services Authority, our member’s shares became eligible for protection under the Financial Services Compensation Scheme (FSCS).

Your eligible deposits are now protected up to a total of £85,000.00 by the FSCS, the UK’s deposit protection scheme.

The FSCS is a statutory compensation fund at last resort for members of an authorised credit union (or customers of any authorised financial service firm) in the unlikely event that the credit union (or financial service firm) stops trading or is declared in default.

The maximum amount protected under the FSCS is £85,000 per member. Any deposits you hold above the £85,000 limit will not be covered. Further information is available at