Open a credit union savings account in the South West
Safe, ethical, and member-owned. Join over 20,000 members saving for a better future. Just complete our simple 5-minute application to open a credit union savings account today.
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Save up to £120,000
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Competitive, exclusive interest rates
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Open an account with as little as £1
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Safe and secure with FSCS protection
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Automated and manual transfer options
No matter your situation, we have a savings account for you
If you’re just getting started, looking to automate your savings, or planning for a big milestone, we’ve got something for everyone. Our savings accounts are designed to take the hassle out of managing your money, with no hidden costs.
Easy Saver Account
Watch your savings grow and access them as you need them.
- For all GWCU members
- Dividends are paid annually
- Transfer money to and from any UK bank account
Cash ISA Account
Save up to £20,000 tax- free with GWCU
- This savings account is open to all members
- Earn 3.25% AER interest
- Minimum deposit is £1
Christmas Saver Account
Spread the cost of Christmas throughout the year.
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Have a debt-free December
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Access your money in November
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Safer than other Christmas savings schemes
Fixed Rate Saver
Watch your savings grow over a fixed period.
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For all GWCU members
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Earn GWCU’s highest level of interest
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Access your money at the end of the fixed term
Opening a savings account with GWCU
Are you eligible?
To begin saving with GWCU, you must meet the following criteria:
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You must be aged 18 or over
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You must live or work in Bristol, Bath, Gloucestershire, Wiltshire, Somerset, and Dorset
There is one other eligibility criteria, but this is optional:
- If you are a tenant of one of our partner housing associations
Ready to start saving with GWCU?
Applying is easy. Here is what you'll need.
We need this so we can contact you easily. It also helps you verify your account when you log into the member portal.
This is important so we can send your savings account documents to you.
This to prove your identity.
A bank that’s here for you, not for profit
Since 1999, we’ve been 100% committed to making our members better off. At Great Western Credit Union, we’re not a faceless big corporation with shareholders, we’re a mutual financial organisation run by members, for members.
That’s why we understand life can sometimes get in the way of your finances. Whether you’ve struggled to manage your money or been let down by highstreet banks, our affordable loans and competitive savings packages are expertly designed to help you regain control.
Because we’re not-for-profit, every penny stays local. We make sure all profits go straight back to our members and into their communities across Bristol, Bath, Gloucestershire, Wiltshire, Somerset, and Dorset.
Making a difference to our members
Meet our members
“Good to know that my savings are being put to good use in the community.”
“We have been regular savers with GWCU over many years. When we have had to withdraw funds, this has been an easy and efficient process.”
“Everyone I've spoken to either in person, online, or on the phone has been incredibly helpful and clearly has the region’s best interests at heart.”
“Friendly, empathetic and caring. Explains well and are always helpful.”
“The process is straightforward, and transferring money to my account is very easy. I also have peace of mind knowing that my money is safe and secure.”
Keeping your money safe
When you save or borrow with GWCU, your money is:
Start saving with a local credit union
Our mission is simple: we’re all better off when we work together.
Frequently asked questions
How do I open a credit union savings account?
To open a savings account at Great Western Credit Union, simply fill out a quick 5 to 10 minute application to become a member. To get started, you’ll need to have a personal mobile phone number, a personal email address, and your National Insurance number.
Join us today and start saving with as little as £1 via standing order, debit card, or even directly from your salary.
How can I withdraw money from my savings account?
You can access and withdraw your money through free transfers to any UK bank account. Just register for the member portal and log in to your account to access your money.
Follow our step-by-step guide for more information on how to withdraw your funds, or get in touch with a friendly member of the team who can help you.
Can I withdraw money from a credit union?
Most of our savings accounts offer quick and easy access to your money at any time, such as the Easy Saver and Cash ISA. This means you can transfer money back to your account whenever you need it.
For others, you can only access your money at the end of a set time period to guarantee returns on your saving efforts, such as the Fixed Rate Saver.
Are my savings protected?
All eligible deposits up to £120,000 are protected by the UK’s deposit guarantee scheme called the Financial Services Compensation Scheme (FSCS). This protection applies to all Great Western Credit Union savings accounts.
Please note, any deposits you hold above the £120,000 limit may not be covered by the FSCS protection. This limit includes the total balance across all the accounts you have with us.
Learn more about how the FSCS scheme works, including who it’s for, coverage limits, and how to claim.
Is it better to get a savings account with a credit union?
Unlike traditional big banks, a credit union is a financial organisation specifically designed for a local group of people, no matter their situation. At Great Western Credit Union, all of our members live or work in the South West, and are united in a mission to help one another. We’re smaller, ethical, and dedicated to fairness.
When members borrow and save, a money reserve is created that benefits everybody. This means fair, competitive interest rates, affordable loan repayments, and reinvestment into members and the local community. Because we believe in making a real difference in peoples’ lives, not profits.
Who is eligible to join Great Western Credit Union?
We’re proud to serve the entire South West region of England. You can join GWCU if you live or work in Bristol, Bath, Gloucestershire, Somerset, Wiltshire, or Dorset. We also partner with a range of employers and housing associations.
Simply fill out our simple application form to get started on managing your finances.
Do I need to be a member of GWCU to open a savings account?
Yes, you need to be a member to open a savings account with us. The process is quick and easy. All you need is your mobile phone number, email address, and National Insurance number.
Join our supportive community and start your saving journey with us at GWCU.
Does a credit union give interest on savings?
Yes - but instead of interest, some GWCU savings accounts pay a dividend. This is a share of the profits made by the credit union over the year, and it works in a similar way to interest on a standard savings account.
At Great Western Credit Union, some savings accounts pay a fixed AER (such as our Cash ISA at 3.25% AER), while others pay an annual dividend based on the credit union's performance. Either way, your money is always working for you.