Our Accounts and Services

SAVING with HBCU

We accept members’ savings up to the legal limit, currently £10,000. We pay a competitive dividend based on each year’s surplus. The amount last year was 3½% (current rate 3.75%). In addition all savings are covered by Life Insurance at no cost to the saver, so that when you die, your nominated beneficiary gets up to double your savings balance. To find out more go to our Savings FAQ's page.

HBCU ISA
The Board is pleased to announce the launch of our tax-free 'Mini Cash Individual Savings Account'. This enables members to accumulate up to £3,000 in each tax year in a way which makes the dividend on those savings, currently projected at 4.1%, not liable to income tax. In fact, the dividend does not even need to be declared.

HBCU LOANS
We extend loans of up to £10,000 above your savings, repayable over up to five years.
The interest rate is 1% per calendar month, calculated daily on the reducing balance. There is no penalty for quicker-than-promised repayment and your loan is protected by Life Insurance, at no cost to the borrower. At the end of each year we aim to pay a ‘cash back’ on interest paid by borrowers. Last year this was 4%.

We have collection (and paying out!) points in a number of churches, on Sundays. As well as this web site services can also be accessed:

by phone: 0845 456 2453
by email: hbcu@roses40.freeserve.co.uk

HBCU Loans
We offer a very competitive Loan which is calculated on the balance of your account. So members with a Savings Account with us can borrow up to three times as much as their current outstanding balance. Details on various loans and the rates available To find out more about our Loan Account go to our Loan FAQ's page