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Savings Save As You Earn

Save As You Earn (SAYE)

Saving can be hard. A Save As You Earn account makes it easier by letting you put away a regular amount straight from your salary.

How it works

With our Save As You Earn scheme, you decide how much you want to save each month, and your employer pays it directly into your credit union savings.

You can apply to join Save As You Earn online, by post or at one of our offices. To open an savings account you must:

  • Be 18 or over and
  • Work for an employer who is signed up to our SAYE scheme (Check the list below)

Why save regularly with us?

  • Get paid an annual dividend
  • Make same-day withdrawals with no charges
  • Qualify for reduced interest loans up to £10,000
  • Build up your savings without thinking about it
  • Manage your money online or from your smartphone
  • Top up your savings when you want to
  • Know that your savings are 100% protected by the FSCS
  • Your savings help other local people financially

What you need to open a SAYE account

You can apply to join a Save As You Earn scheme online by selecting your employer from the list below. Or you can come into our offices, or Click to DownloadDownload SAYE Application Form (345.5kb) , complete it and post it to us. We will check your details with your employer and set up the account for you.

As a saver, you automatically become a member of the credit union, with a say in how we are run.

To join, select your organisation from the list below:

Don’t see your employer listed here? Contact us and we will contact them about our Save As You Earn scheme.

Paying into your account

Your employer will pay your savings directly into your account. You will see the payment each month on your salary slip. You can also save extra by paying into the account yourself.

You can:

  • make a direct transfer or set up a standing order from your bank account
  • make cash deposits into the account at our offices in Worthing or Crawley

Earning money on your savings

We pay an annual dividend on your savings rather than interest. The dividend depends on how much surplus we make in the year. This profit is shared between all our members. In 2015/16 we paid a dividend of 1%.

Dividends are paid into your account in April.

Fees and charges

  • No account set up fees.
  • No monthly or annual account fee.
  • No fee for withdrawals or for closing your account.


Extra benefits of being a SAYE member

Special rate loans

As a regular saver, and a member of our SAYE scheme you get preferential rates on loans up to £10,000. Contact us or apply for a loan online.

Withdrawing money from your SAYE Savings Account

You don’t have to give us any notice that you want to withdraw your savings. You can ask that the money is transferred by calling us, logging into your online account, or visiting us in our offices in Worthing or Crawley.

(Because your savings represent your shares in the credit union, this is often called a share withdrawal request.)

Online transfers

To transfer your savings to any other bank account you can use our smart phone app or log into our website.

Transfers usually go through on the same day if you make them on Monday to Friday. If you request a transfer after 4pm on Friday it will be paid into your bank account the following Monday (or the following Tuesday if the Monday is a Bank Holiday).

Use a prepaid card

You can apply for a credit union prepaid card that is linked to your savings account. You can top it up from your savings account and use it as you would use a debit card. Find out how to get a prepaid Visa card

Visit us in Worthing or Crawley

You can complete a share withdrawal form at our offices. We can then either transfer the money into your designated bank account immediately, or issue you with a cheque. If the cheque is for £500 or less you can cash it for free at specific local post offices. We can’t make cash payments. Please remember to bring proof of ID with you.

How do we compare?

So, how do we compare to the savings accounts offered by high street banks?

The biggest difference with our savings accounts is that the money you deposit in your savings account is used to benefit other local people. Your savings will fund loans with fair interest rates for members who may otherwise have no alternative but to pay the three-figure interest rates charged by payday lenders.

Any profits that are made are paid out as a dividend which is equal to a percentage of your savings. For 2015/16 the dividend we paid was 1%.

Our savings accounts also give you access to discounted loan rates.

Still have a question that needs answering - take a look at our Savings FAQs.

Contact Us
  • BOOM! Credit Union
  • Tel: 01903 237221
  • Fax: 1890 800 011
  • Email:
  • Web:
  • Address: 129 Montague Street, Worthing, West Sussex, BN11 3BP

We're a credit union for people who live or work in Surrey, Kingston, and West Sussex.

We give local people access to fair and affordable loans and savings accounts. And we help our members to manage their money.

Main Office
  • T:
  • E:
  • 01903 237221
  • 129 Montague Street,
  • Worthing, West Sussex, BN11 3BP
Opening Hours
  • Mon - Fri
  • 10:00 - 15:00
Crawley Drop-In Centre
  • T:
  • 01293 438537
  • Crawley Town Hall,
  • The Boulevard
  • Crawley, RH10 1UZ
Opening Hours
  • Mon & Fri
  • 09:30 - 15:45
Follow Us
Find Us here:
Boom! Credit Union is the trading name for the West Sussex and Surrey Credit Union. We're authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our FRN is 475226