Community Savings Account

A Hoot Community Savings Account is for organisations and groups looking for an ethical and mutual place to deposit and manage their money or invest in savings.

A safe, ethical place to deposit and manage your money

An opportunity to invest in your community

Savings protected under the FSCS

Please note that this is not a bank account.

Hoot Community Accounts do not offer cheque books, debit or credit cards, bill paying facilities, overdrafts, bill paying, direct debits or standing order facilities.

Open a Community Savings Account

When you open a Hoot Community Savings Account you will get:
  • A range of ways to deposit or withdraw funds
  • The Credit Union VISA Prepaid Card for purchases in-store or online*
  • A local and friendly service from people who understand your needs
  • A targeted dividend return on deposits (subject to credit union rules)

To find out more use the enquire today form or contact

Enquire Today

Hoot Credit Union

Is your group eligible?

Common Bond

If your organisation or group operates in the area covered by the common bond you are eligible for a Hoot account.

Corporate Member

When you open a Community Savings Account you will become a corporate member of the credit union. You will then be able to deposit savings.


As a corporate member of the credit union you will have the same rights as individual members including one vote at our Annual General Meeting. The credit union rulebook outlines the rights, rules and limitations of corporate membership.

Terms & Conditions


To be eligible for corporate membership your organisation must have a place of business or operate within the postcodes of BL0-BL9, M25-M29, M38, M45 and M46.

An incorporated body is a member in its own right. If you are an incorporated body your nominated person on will be known as the Corporate Representative. An unincorporated association must be represented by an individual/s. If you are an unincorporated body your nominated person will be known as the Designated Representative. That individual may also be a member of the credit union in their own right. When your organisation becomes a credit union member you must nominate someone to hold the authority to act on behalf of the organisation.

Membership approval is subject to Rule 8 of credit union rules: “The Board of Directors shall ensure that at all times the number of Corporate Members in membership of the Credit Union does not exceed 10% (or such other amount as prescribed by law”. The rules give more details on Corporate Membership and general terms and conditions of membership.

Once accepted into membership you will be issued with one membership number regardless of the number of signatories to the account.

The nominated Representative will be issued with a membership card with the corporate account number. Your signatory must produce this card when accessing Hoot services. This person must produce ID to verify they are a signatory to the account.. Additional cards are available on application.

The nominated Representative will hold the voting rights for the organisation, which will have one vote regardless of number of signatories or monies deposited.


The maximum amount of savings for any one member is £15,000 and are withdrawable but non-transferable.

Acceptance of corporate deposits is subject to the limitations of credit union rules showing the aggregate limitations and restrictions for corporate deposits. Please ask for details.

Account Security

You must take all reasonable precautions to ensure that only nominated users have access to the account and understand that the credit union is not responsible for any loss which may be incurred by any party as a consequence of any breach of security on the part of the organisation.


Corporate members may deposit and withdraw funds in the same way as individual members. We regret that we cannot accept deposits of personal cheques.

The daily limit for cash withdrawals is £500 per day.

Withdrawals of monies from the credit union may be subject to Rule 51 of credit union rules: “Subject to rules 52 and 53, money paid in on Shares may be withdrawn by a Member on any day as provided for by the Board. However, if required, the Board may request up to sixty days’ notice from a Member of their intention to withdraw their shareholding.”

Return on deposit

All members receive a share in the organisation’s trading surplus, called a ‘dividend’ rather than a fixed rate of interest. This is paid annually, depending on credit union performance and the agreement of members at the AGM, as a percentage of your deposit and is not guaranteed.

Savings are protected by the Financial Services Compensation Scheme