Organisation Accounts - Eastern Savings and Loans
Organisation Accounts

Many organisations share our ethos and community principles and may wish to support our objectives by investing in the credit union. We can also offer some transactional services which may assist your organisation such as the ability to pay bills and for supporters to make deposits to your account.

We offer two types of account for organisations:

The credit union Third Sector account is the ideal account for organisations wanting to hold their funds with an ethical and likeminded business whilst making a limited number of/or infrequent transactions.

Examples might include charitable groups, social enterprises, parish councils or neighbourhood groups.
The credit union corporate deposit account enables the larger organisation to support your local community by putting your funds on deposit with a financial co-operative that shares your values.

The account is designed for large organisations keen to see a social return on their shareholding as well as the potential for a dividend payment. Examples would include local councils or housing associations.

Account Features

Third SectorCorporate
Joining the credit union as a profit-sharing member£5.00FREE
Account Maintenance fee per monthFREEFREE
Maximum shareholding of £15,000 at any one timeYESYES
Initiate transactions by phone or emailYESYES
Online account accessYESYES
Profit sharing accounts – if we make a profit we share it with our members as an annual dividendYESYES
Overdraft facilityNONO
Cash Deposit
Max number of cash deposits at our office or by PayPoint card in local shopsunlimitedN/A
Additional PayPoint deposits beyond account limit£0.50N/A
1st PayPoint card issueFREEN/A
Additional PayPoint card issueN/AN/A
Cheque Deposit
Deposit cheques by post to our office. Ideal if you mainly use cash and handle cheques, with no charges for depositing cheque. Maximum number of depositsunlimitedN/A
Bounced cheque fee£12.00£12.00
Withdrawals
Maximum number of all withdrawals per yearN/ATWO
Notice to be given for withdrawalsNone90 Days
Cheque withdrawalsN/AN/A
Faster Payment Transfers
Maximum number of incoming bank transfersunlimitedN/A
Maximum number of outgoing bank transfers (outgoing same day by Faster Payments)1 per week2 PER YEAR
Additional outgoing payment beyond allowance£0.30£0.30
Receive international bank transfers into the accountN/AN/A
Send international bank transferN/AN/A
Card Services
Debit and Credit Cards N/AN/A

Apply

To apply for an account for an organisation, please complete the form below.

1Organisation Account Application
2
3
Please provide your organisation's web address if you have one.

Terms and Conditions for Organisation Accounts can be founds here.

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Members of ABCUL

Members of ABCUL

Your money is protected up to £85,000

Your money is protected up to £85,000

Authorised and Regulated by the Prudential Regulation Authority

Authorised and Regulated by the Prudential Regulation Authority

Members of ABCUL

Your money is protected up to £85,000

Authorised and Regulated by the Prudential Regulation Authority