Share of profits

What happens when Northern Community Bank makes a profit?

When Northern Community Bank performs well, we share some of our profits with eligible account holders. Because we’re owned by our account holders, there are no external shareholders — so more of our success goes back into our communities.

The amount we’re able to pay each year can vary and isn’t guaranteed, but you can see our previous share of profits rates below.

Loan Interest Rebate

As an extra benefit to account holders who also take out loans from Northern Community Bank, when the community bank performs well we also give a rebate on the interest paid by the borrower. We believe it is a major benefit to account holders who choose to borrow from Northern Community Bank. President Gerard Spain, explained

“That means for every £10 of interest an account holder paid in the last year when borrowing from Northern Community Bank, the loan rebate will return £1.70 to them”

The share of profits and loan rebate is paid gross, directly into your account shortly after the AGM. Since no tax is deducted, it is your responsibility to disclose the dividend to the HMRC.