Great Western Credit Union: local finance for southwest England
Weymouth, Ava Lily
Great Western Credit Union is the main credit union for people who live in south west England. Credit unions are local banks owned by local people. They are simple to join, and encourage you to save money.
For smaller areas in the southwest, enter your postcode to find your local credit union.
Who can join Great Western Credit Union?
People who live in:
- Bristol
- Bath
- Dorset
- Wiltshire
- Somerset
- Gloucestershire
This credit union offers a range of savings accounts including fixed rate and Christmas savings acounts.
Do credit unions loan money?
They do, but only to people who show a strong record of saving. And at fair limits, set by law. Usually to buy household appliances or help small businesses.
And the loan money comes from savers, who receive dividends (rather than interest). So the more they save, the more money they get. Just like banks, credit unions are protected by the Financial Services Compensation Scheme, which guarantees money more than most people have, should a credit union fall (and it’s not likely that this one will).
