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Savings

One of our key aims is to help our members save regularly and become financially resilient. For this reason we offer a range of different savings accounts.

To join Commsave you will need to commit to saving at least £2 a week or £10 a month.

You can save anything up to a total balance of £85,000.

Your savings are as safe as they would be in any other financial institution. All of your savings are protected by the Financial services Compensation Scheme up to a total of £85,000.

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 we make each year, in the form of a dividend. For the most recent financial year, ending 30th September 2024, we paid a return of 4% - which is very competitive for instant access savings accounts.

Our savings accounts

As well as the Regular Savings Account all our members have access to, you can also choose to open other savings accounts with Commsave.

Regular Savings

Perfect for regularly saving money for unexpected bills, emergencies or for a future treat.

PrizeSaver Account

Every pound you save, up to £200, earns you an entry into a monthly prize draw with a top prize of £5,000, 10 bonus prizes of £50, and 10 of £20.

Online Goal Savings

Our Online Goals Savings Account gives you the extra incentive to meet your goals.

Christmas Savings

Christmas soon rolls around every year! Wouldn't it be nice to have all your Christmas spending money ready?

Holiday Savings

We all like to get away for a holiday, so you can arrange a separate savings 'pot' for holiday spending.

Child Benefit Savings

Put aside your child benefit to pay for things like school uniforms, school trips or any unexpected expense.

Bill Payment Account

If you’re paid weekly but pay bills monthly you can set aside weekly savings to cover your bills.

Children's Savings

A great way to help kids develop a sensible attitude to saving and money handling skills essential in adult life.

Tax Saver Account

Self employed? Why not spread the cost of your tax bill throughout the year?

Fixed Rate ISA

Our 2-Year Fixed Rate ISA offers you a guaranteed 3.5% - ensuring stable growth on your savings over a set period.

Find the right savings option for you

Representative Example
Savings Type
Monthly Contribution
Forecast Length
Total Saved
Apply for a savings account

FAQs

We pay a competitive annual dividend on the total amount you have saved during the financial year (October to September). The rate depends on Commsave’s financial performance. This is usually paid into accounts in January.

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.

For further information about the scheme (including the amounts covered and eligibility to claim) please visit here.

The answer is quick and easy. You can request a withdrawal via our online account, via our app or by calling our friendly team. Typically, you will have your withdrawal in a matter of minutes. Most transfers are made instantly 24 hours a day, seven days a week.

The easiest and most convenient method is using our online banking or mobile app.

You can also make a request over the phone for bank transfers or the issue of cheques.

Most transfers are made instantly 24 hours a day, 7 days a week.

You must leave at least £1 in your savings account or the loan security amount of 1/3rd of the loan balance if you have a loan.

Ready to join?

You can check out who’s eligible to join here

If you’d like to join us, simply fill in our application form to get started!