Expected to find Sheffield Credit Union or LASER? You've come to the right place. We're now called South Yorkshire Community Bank. Read more about our name change

Dividends

Dividends are paid to members with certain savings accounts.

They are a share of our surplus, which is the money we make each year after we have paid our operating costs.

What is a Dividend?

  • Dividends are a bit like interest, but the amount paid depends on how well we have performed.
  • South Yorkshire Community Bank is a not-for-profit organisation.
  • That means our focus is on helping our members, not making money.
  • In most years we do make a small surplus.
  • This surplus is used to invest in improving the services we provide and to reward our savers.

How do dividends work?

Dividends are approved at our Annual General Meeting (AGM). Your dividend is calculated based on your average savings balance over the year, and paid the following March, shortly after our AGM.

We aim to pay dividends at least equal to the interest rates on building society instant access savings accounts. We can’t guarantee that a dividend will be approved at our AGM, and past performance is not a reliable indicator of future results.

The dividends paid for the last 5 years have been:

  • 2020

    0.2%

  • 2021

    0.2%

  • 2022

    1.0%

  • 2023

    1.5%

  • 2024

    1.5%

  • 2025

    1.1%

Don’t want to receive a dividend?

If you do not wish to receive dividends on your savings, please complete a Dividend Opt-out form [LINK NEEDED]