What are Special Savings Incentive Accounts (SSIAs)?

These are the new accounts that everyone is talking about. These accounts will be offered by your credit union for your benefit. You can count on your credit union to ensure that you get the reward that the Government is offering for saving.

For every £4 you save in a credit union Special Savings Incentive Account the Government gives £1. This 25% top up will be in addition to any interest or dividend earned on the account.

You must save between £10 and £200 each month in the first year. Each month that you save you will receive the Government top up. If you stay in the scheme for the full five years then only the interest or dividend earned will be taxed at 23%, the Government top up will not be taxed.

This is a great opportunity for credit union members and we at Lismore & Cappoquin Credit Union are committed to ensuring that you get the benefit. Please click HERE to contact us and we will send you more information.