As owners of the business, members share in the risks and rewards of ownership by receiving a retrospective dividend on their deposits. Dividend Rates can fluctuate throughout the year. You will find the most up to date rates for our savings accounts on this page.

Our Proposed Dividend Rates from 1 October 2023

Scotwest Saver Account 1% p.a.
30 Day Notice Account 1.1% p.a.
60 Day Notice Account 1.2% p.a.
90 Day Notice Account 1.3% p.a.
Young Scot Extra Savings Account 1% p.a.

Dividends for the above accounts are paid quarterly on the last day of March, June, September and December. Dividend Rates are variable and are determined on an on-going basis by the Scotwest Board of Directors.


Christmas Savings Account

A dividend may be paid and added to the account prior to the pay-out in November.

The proposed dividend rates may fluctuate over the course of the year depending on current market conditions.

The proposed rate of dividend for the Christmas Account will be 1% p.a. from 1st October 2023.(0.2% p.a from 1st July 2023; previously 0.1%).

MoneyWise Account – Interest Rates

Junior savers are not full members of Scotwest Credit Union and therefore cannot receive a dividend. Instead, their MoneyWise Account will receive interest on their savings. Interest will be paid without the deduction of tax (see below).

MoneyWise Account Interest Rate will be 1% p.a.from 1st October 2023..

Interest for these accounts is paid quarterly, rates are variable.

1 Year Fixed Term Savings Account

Lock your money away for a year to secure a great rate and watch your savings grow with our 1 Year Fixed Term Savings Account. Deposit between £2,000 to £84,999 to enjoy a 5% interest rate on your savings.

Please note

Scotwest pays dividends without the deduction of income tax. Scotwest is not responsible for tax declarations and does not give advice on tax due on dividends. Find out more here.