The Channel Islands Co-operative Society Limited is not a Bank and is not regulated under the Banking Business (Jersey) Law 1991 or the Banking Supervision (Bailiwick of Guernsey) Law, 1994 respectively. Therefore, it is not part of the Jersey Bank Depositors Compensation Scheme or Guernsey Banking Deposit Compensation Scheme.

Upon becoming a Member, you will become an equal shareholder member of the Channel Islands Coop.

Estimated dividend* is applied on applicable products or services with us which may then be paid into your A Class share account as a lump sum after the declaration of dividend at each Annual Meeting of Members. 

 *Any dividend is only earned when declared by the Board and approved by members at an annual members’ meeting. The payment of dividend is contingent upon distributable surplus available following each financial year.

Types of share accounts

A Class Share Account

This is the account which will hold your initial £1 when you become a member. You can purchase up to £25,000 in additional share capital in the Society through this share account. 

B Class Share Account

You can also benefit from the Society’s B Class share account, which offers a higher rate of interest for investments in the Society from £1,000 to a maximum of £75,000. If you wish to reduce your investment, you will need to give 90 days’ notice. You must hold an open A Class account to be able to open and maintain a B Class account.  

Third party payments or receipts 

We do not make third party payments on behalf of account holders’, nor do we accept third party receipts on behalf of account holders.  

Member Portal

You can view your A share account with the Society via our Member Portal. You can log on or register by  clicking here. 

Earning interest

Accrued interest on the balance of your share account/(s) will be paid to your account at the end of our financial year which ends on the second Sunday in January each year.  

Interest is calculated on the lowest balance of our period table, consisting of 13 periods in our financial calendar, which begins on the second Monday in January each year.  

Interest is not accrued during the 90 days withdrawal period on B Class Share accounts.  

Share of profits 

A share of profits in the form of dividend is only payable when distributable surplus permits after the completion of each financial year and is recommended for payment by the Board and approved by Members at the annual members’ meeting. Past payment of dividend is not an indication that a dividend will be paid in the future.

Adding funds into your share account 

Once you’ve completed a  months membership, you can add to the balance of your share account to earn interest in one of the following ways:  

Increasing your investment in the Coop  

You can purchase additional share capital in the Coop by visiting any of our financial service counters.   

1. Purchases of additional share capital made in physical cash are limited to £500 in any calendar month, including on an aggregate basis both amounts subscribed for and withdrawn  

1. Cheques must be from an account in your name, or in the case of joint accounts it should come from an account in the same names.  

We do not accept third party payments of any nature into your share account(s).  

Please note that for any purchases of addition share capital, the Society has a legal obligation to understand the rationale and source of funds for the monies used to acquire the additional share capital. This will be requested at the time of each transaction. Such requests may include the need for additional information and supporting documentary evidence where appropriate.  

BACS transfer 

We do not accept transfers to your account directly. 

Withdrawing from your share account 

You can withdraw part or all your investment by visiting our Member & Post Office service counters. You will need to leave a minimum of £1 in your A Class Share account to continue to be a member. 

For B Class Share accounts, you will need to give 90 days’ notice to withdraw funds. 

Please note that the Society has a legal obligation to understand the application of the funds being withdrawn, and you may be asked to provide additional information and supporting documentation for the transaction where appropriate. 

For all share accounts, cash withdrawals of up to £500 per calendar month are permitted (combined), provided the aggregate cash transactions in or out of the accounts have not already reached £500. 

Otherwise, withdrawals will be made in the form of cheques drawn in the name of the member or where joint accounts the members, or by way of BACS transfer to a bank account held in the name of the member, where the account is held with a bank in the Channel Islands. 

Interest rates

Rates of interest as of Monday 11 December 2023:

A Class Shares

B Class Shares

Code of Practice to Shareholders

This Society abides by a voluntary code, the Corporate Governance Code for Consumer Co-operative Societies: 2013 (the “Code”) which governs Co-operative Societies. The code requires us to provide a statement to its members explaining the nature of their investment and any change affecting it. 

The position you occupy as a member of the Channel Islands Co-operative Society is no different from that of a member in any other corporate body because if the Society fails, you may not have all, or any of your investment returned to you. Your investment is withdrawable without penalty at the discretion of the Board. 

Although not subject to formal prudential supervisions, a condition of the Society’s exemption under the Banking Business (Jersey) Law 1991 is that the Society’s Auditor must report annually to the Jersey Financial Services Commission that savings deposits with the Society to not exceed 100% of its most recently published capital and reserves. 

View our latest audited statements.

Our Privacy Policy

We take your privacy seriously and are committed to maintaining the privacy and security of your personal information. 

We will only hold personal data about you which is essential to managing your membership allowing you to exercise your rights as a Member to comply with legal requirements. 

It is important that you know what information we hold about you, what we use it for and how we protect it. View our full Privacy Policy.