Savings FAQ's

Is there a charge to open a savings account?

No, you just have to keep a minimum of £1 in your Regular Savings at all times.

Why do I need to keep £1 in?

When you open a savings account, you become a member of Hoot. Hoot is a member-owned co-operative, and you become a member shareholder.

Find out more >>
Are my savings safe?

Your savings are protected by our membership of the Financial Services Compensation Scheme (FSCS)

Find out more about FSCS >>
Will I get interest on my savings?

Hoot savings do not offer interest, but as a shareholder, you will get a share of the profit (a dividend) in proportion to your savings (subject to credit union performance).

How do I manage my savings account?

Everything you need to know about paying in, withdrawing and managing your Hoot account can be found below.

Managing My Hoot Account >>