Fair loans and flexible savings
Banking run for local people, by local people.
Flexible savings letting you have control
Whatever your reason for saving – whether that’s meeting an expense on the horizon such as Christmas, an unpredictable expense such as a car breaking down, or something special like a holiday - Gloucestershire Credit Union is a safe, local place to keep your money.
Reasons why saving with Gloucestershire Credit Union is a smart move:
- You can save what you want, when you want with our flexible savings’ account.
- Our online banking means that you can check your balance, make payments and manage your account at a time that suits you.
- With a savings account, you become a member and will have a share of the credit union’s profit (called a dividend) plus a say in how the organisation is run.
- Once you’ve saved with us for at least 13 weeks, you can get a better rate of interest if you apply for one of our loans.
- Gloucestershire Credit Union is run by local people for local people, and by saving with us you’re not only helping yourself but also helping local communities. We’re dedicated to helping everyone who lives and/or works in the county.
- Gloucestershire Credit Union offers a responsible, reliable financial alternative to the high street banks and other companies. Your savings with us are protected by the Financial Services’ Compensation Scheme and we’re authorised by the Prudential Regulatory Authority (part of the Bank of England) and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority.
- We’re managed by a Board of Directors who keep tight control of our operations, giving you confidence that you can do business with us.
Becoming a member is simple! Open a savings account which costs £5 admin fee and a minimum of £5 deposit into your new account and you’re in!
Interest on savings accounts is paid as a dividend. This is the amount of money each member receives when Gloucestershire Credit Union’s profits are shared out between them all. Last financial year, the dividend paid to each member was the equivalent of 0.25% interest on their savings.
There is a limit of £15,000 that any member can have in their account.
Gloucestershire Credit Union partners with Cheltenham Borough Council to offer credit union membership as an employee benefit. Find out more on our Payroll Saving page.
Why not open an account for your daughter or son, grandchild or other young person? It’s a great way to start building a nest-egg for them to help with a future expense like their first car, going to university or even starting a business.
"It was easy to set up"
“As a debt advisor I wanted to use Gloucestershire Credit Union to be able to advocate for it when speaking to customers in order to persuade them to save a little and, when needed, to borrow at an affordable rate. It was easy to set up and having savings separate to my normal bank account means I am less tempted to touch them.”