Accessing your savings while you have a loan

Understanding Your Secured Savings

If you take a loan with us, the funds in your membership account are secured against your loan balance. According to your loan agreement, you won't be able to withdraw from your membership account (including attached shares) for the duration of the loan unless your savings balance exceeds the loan balance.

If your membership savings are higher than your outstanding borrowing, you will be able to withdraw the difference between these amounts.

Emergency Access

However, we allow for a small payment from your savings account in an emergency in some cases. This must be agreed by the Credit Control officer. Please call us on 0203 773 1751 (option 2) in case of emergency.

If the Credit Control officer concurs with a one-off payment, it won't be agreed again within 12 months or when we have just given you the loan.

Getting Help

Understanding your savings access is important for managing your finances effectively. Contact us if you have questions about your specific situation or need clarification about your available funds.