As owners of the business, members share in the risks and rewards of ownership by receiving a retrospective dividend on their deposits.

Our Proposed Dividend Rates from 1 July 2017

Scotwest Saver Account 0.25% p.a.
30 Day Notice Account 0.26% p.a.
60 Day Notice Account 0.26% p.a.
90 Day Notice Account 0.26% p.a.
Young Scot Extra Savings Account 0.25% p.a.

Dividends for the above accounts are paid quarterly on the last day of March, June, September and December and rates are variable.

Young Members (16-17 year olds)

Young members are not full members of Scotwest Credit Union and therefore cannot receive a dividend. Instead, young members will receive interest on their savings at a rate equivalent to the current dividend rate. Interest will be paid without the deduction of tax (see below).

Christmas Savings Account

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

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

The proposed rate of dividend for the Christmas Account is currently 0.25% p.a.

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 0.25% p.a

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


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. Please contact HMRC for advice.