Can charities and community groups save with a credit union?
Can a charities and community group save with a credit union?
If you’re a charity or community organisation, finding a savings account that genuinely reflects your values can be challenging
.
Those funds represent trust, effort and a shared commitment to supporting others. So it’s only right to think carefully not just about how those funds are raised and spent, but also about where they are held in the meantime.
At Great Western Credit Union, we believe savings should do more than simply sit in an account. They should continue to support people and communities, while still earning a fair return.
How is a credit union different?
One of the biggest differences is purpose.
We are a not for profit, people-first credit union. That means we exist to support local people and communities, not shareholders.
When a charity or community organisation saves with us, your money helps fund fair, affordable finance for individuals and families who are often overlooked by mainstream lenders. That means while your savings are working hard for you, they’re also helping to strengthen financial wellbeing locally.
For many organisations, this feels like a natural extension of what they already do. It’s a way to make sure money set aside for the future continues to have a positive impact.
A business savings account with community impact
Our Business Saver gives charities and community organisations a straightforward way to grow their money while staying true to their values.
It pays a competitive 2.78% AER and is designed for savings you want to grow over time, rather than everyday spending. Withdrawals are limited to one in any two month period, with a maximum of four in a calendar year, which helps support longer‑term saving.
Your deposits are also protected by the Financial Services Compensation Scheme, which means you can save anything from £1 up to £120,000 with confidence. Your money’s safe, while still doing good locally.
Who can apply?
The Business Saver is available to organisations that are legally separate from the people who run them. This includes registered charities, limited companies, and incorporated community or voluntary organisations. It’s not available to sole traders or personal customers.
Do good with money
If you’re thinking about whether saving with a credit union could work for your organisation, you can explore our Business Saver here or get in touch to chat through your options.
You might also want to look at our wider savings options to see how we support different types of members.
If doing good with your money matters to you, a credit union could be the right place to save.