Credit unions are mutual organisations. This means that we pay a dividend to our members. This is because our members are the owners of the credit union and not just customers.

Every pound that you save with Flamesavers buys you one share, and each share is eligible for a dividend at the end of the credit union's financial year. Our financial year runs from the 1st of October to the 30th of September.

The amount of dividend we pay will depend on the financial success of the credit union within that year. After operating costs and regulatory fees are deducted, along with investment to improve our services to members, any surplus funds the credit union holds are returned to our members as a dividend.

The table below shows the dividend rate and the amount we have paid out in previous years.


Amount Paid

Dividend Rate

















Dividends are calculated on the lowest amount held within your account each calendar month.

The Board of Directors recommends a dividend to members at the Annual General Meeting. Members then decide to approve the recommendation, to approve a lower amount, or to pay no dividend at all.

For that reason, please note that the rates shown are for information only and not a guide to what we will pay now or in the future.

We do not deduct tax on dividends, and members are reminded that it is their responsibility to ensure that they pay any tax due.

We are required to report dividend payments in excess of £250 to HM Revenue and Customs.