Unlock ethical savings and loans with new Commsave Credit Union partnership

WHAT IS COMMSAVE? Commsave Credit Union's vision is 'to see a world where everyone is financially included, with access to responsible credit, a safe method of saving, with financial skills to manage their money wisely, and achieve long-term wellbeing'. It is owned exclusively by its members – not private shareholders, unlike many high street banks. It helps people become financially resilient and offers its members savings and loans.

WHAT RETURN WILL I GET ON SAVINGS AND WHAT APR DOES COMMSAVE OFFER ON LOANS? Any dividend payment is based on your daily account balance over the course of the year. The dividend rate to be paid will be recommended by the board of directors and authorised by members at the Annual General Meeting.

One of the great benefits of joining a credit union is that you are a member and part-owner of the company – this means you receive a share of the profits made each year in the form of a dividend. For the most recent financial year, ending 30 September 2023, Commsave paid a return of 4%* – which is very competitive for comparable instant access savings accounts. To take a look at Commsave's full range of savings accounts, go to: www.commsave.co.uk/savings

Current loan rates vary between 9.4% and 26.8% APR, depending on factors like your individual credit profile, as well as the size and duration of the loan. We make loans that can be repaid within three months, up to a maximum term of seven years. To take a look at Commsave’s full range of loans, go to: www.commsave.co.uk/loans

WILL I NEED TO SAVE? Yes, you will need to save a minimum of £2 a week or £10 a month while you're a member of Commsave. Our members save on a regular basis, creating a pot of money from which we make loans available to members who need them.

HOW DO I SAVE? You can save by a simple direct debit from your bank account into your Commsave account. We’ll help you set this up during the account opening process. As long as you're saving the minimum amount, you can change the amount you’re saving at any time – just let us know.

HOW DO LOANS WORK? Commsave bases its decisions on your circumstances, in terms of how much it can lend you, the term of your loan, and the interest charged. The credit union can lend anything from £100 to £25,000 to help with all kinds of needs, from replacing an essential household item to buying a new vehicle or paying for professional courses.

HOW DO I JOIN? Visit www.commsave.co.uk and click Join Us.

*Past performance may not be indicative of future results.

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