The highest dividend payment in over a decade for NHS Credit Union members

Thursday 11 January 2024

Last month, more than 18,500 members received an early Christmas present, courtesy of the NHS Credit Union.

The credit union held its AGM in December when the dividend for the year was agreed at 1.5%. CEO of NHS Credit Union, Ruth Dorman said she was ‘delighted’ at the increasing level of dividend. It’s the sixth year in succession the dividend payment has risen – taking it to its highest figure in 11 years, with the total sum paid out to members totalling more than £200,000. The dividend payment of 1.5% is around three times better than would be found in many high-street banks – demonstrating the value of saving with the NHS Credit Union.

Ruth added: “It’s great to be able to reward our members with a record dividend pay-out, which reflects another very successful year for the credit union.” Throughout 2019, the credit union welcomed some notable highlights including more than 2,000 new members from all over Scotland and the north of England, which makes total membership stand at 18,600 with total savings amounting to over £22,000,000.

Also, thousands of members responded to the credit union’s 2019 survey, with more than 95% of respondents saying they would encourage a colleague to join the NHS Credit Union. Thanking staff for a terrific 2019, Ruth said: “I’d also like to pay tribute to the efforts of our staff, without whom this success would not be possible.”