- The Nest Egg Account is only available to existing Hoot Credit Union members and may be opened by contacting the office by telephone or by completing Nest Egg Application Form.
- Savings can be paid into the Nest Egg account throughout any given calendar year and can be withdrawn at any time.
- Lump sum deposits may be made at any time into the Nest Egg Account subject to any applicable limits and can be made by cash deposit, bank transfer or debit card, Deposits may be subject to Money Laundering Verification.
- A member’s collective savings balance cannot exceed £15,000 or any such limit declared by the credit union in accordance with regulatory limits.
- We regret that we cannot accept personal or third party cheques as deposit. Cheques from approved organisations made out to the member are accepted and require ten days clearance from the date of deposit.
Financial Services Compensation Scheme
Your eligible deposits with Hoot Credit Union Ltd are protected by the Financial Services Compensation Scheme, the UK’s deposit protection scheme.
Click here for more information or visit www.fscs.org.uk.
Credit unions are regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Free life savings insurance
Hoots offers free life insurance on your savings and on your loans (age restrictions and limits apply).
The amount covered depends on your age when you put money into the credit union There is no insurance on money saved under the age of 18 or over the age of 80.
How our free life insurance can help:
Life cover protects adds to your savings in case of death and repays your loan if you die before you have paid it off (terms and conditions apply).
