We are now open to the UK fishing community, which means all fishers, fish processors and fishmongers throughout the UK are now eligible to join us and access all our benefits.

In addition to savings and loans accounts which are available to all members, we have created financial products designed to suit the financial needs of fishers. These include:

• A Stormy Reserve Fund– a savings account in which money can be set aside and accessed immediately at times when unable to earn an income from fishing.
• A HMRC Budget & Bill Payment account– this savings account enables regular amounts to be set aside to pay the annual tax and National Insurance bill. At the end of the financial year, we can transfer the amount saved to HMRC.  
• A special loan scheme to support access to government grants that require an up-front capital contribution. 

We have a strong track record of supporting those working in the fishing industry. Since forming a partnership with The Seafarers’ Charity in 2021, we have provided over £1.2million in loans to help more than 65 fishing individuals access financial support, including match funding for government grants.

We pay a competitive annual dividend on members’ savings and a free Bereavement Fund for all members. On death (from any cause) this Fund writes off any outstanding debt with us. In addition, the Bereavement Fund can make a payment to a nominated beneficiary ranging from £500 to £5,000, dependent on the average savings balance of the member over the 12 months prior to death. For those who do not have life assurance, this will provide a welcome and free benefit with an expediated payment at the time it is most needed, as the payment is not subject to probate.

Fishing grants

Fishing families across the UK will once again be able to apply for government support through the Fisheries and Seafood Scheme (FaSS) – with Commsave on standby to provide loans and financial support.

FaSS, set to reopen in April 2025, will be offering grants to fund projects that support the development of the catching, processing, and aquaculture sectors, as well as initiatives that enhance the marine environment.

Eligible applicants will receive up to 80% of project costs covered, so we are on hand to bridge the gap and provide a loan that will be able to cover the remaining 20%. Keep an eye on this page for more information.

The Seafarers Charity

This partnership with us has been made possible thanks to The Seafarers Charity. The charity’s ‘Fishing Without a Safety Net’ research demonstrated that new interventions were needed to create a better financial safety net for fishing families.