Desertmartin Credit Union provides Life Savings Insurance at no direct cost for its members’ eligible savings as an additional incentive to save regularly. The amount of insurance benefit payable on the death of the member is based on the age of the member at the time the savings were lodged.

Insurance Cover Provided on Savings:

Age Savings Insurance Cover
Under 55 Every £1 provides £1 of insurance
55-59 Every £1 provides 75p of insurance
60-64 Every £1 provides 50p of insurance
65-69 Every £1 provides 25p of insurance

Savings lodged on or after the member’s 70th Birthday are not covered by insurance.

  Age Insurance Total
£100 saved under 55 +£100 +£200
£100 saved between  55-59 +£75 +£175
£100 saved between 60-65 +£50 +£150
£100 saved between 65-70 +£25 +£125


Eligible Savings are those that

  • are lodged before age 70.

  • remain intact in your account,

  • and are lodged whilst you were at work or, if not working, in good health. Not eligible are savings

  • lodged after age 70 (though all savings earn the dividend approved at AGM), or

  • lodged whilst not in good health,

  • withdrawn. Savings withdrawn lose the insurance attached to them.




Return On



Ready to talk?

We value your opinion regarding our service and facilities. Please feel free to contact us with your thoughts and queries.

Let’s Talk