Following the Bank of England’s decision to lower the base rate, Great Western Credit Union's (GWCU) offerings have become more competitive than ever
Their savings accounts are boosting member savings, from their Fixed Rate Saver, now offering 4.75% AER/gross to their Money@Work savings account, boasting an impressive 7% AER for new employee savers.
With falling interest rates reducing returns on many savings accounts, GWCU’s Fixed Rate Saver stands out as one of the most competitive options available in the South West. Open to both new and existing members, this one-year bond offers a secure, fixed return at 4.75% AER/gross, making it a strong choice for those looking to lock in a guaranteed rate. Savers can deposit between £1,000 and £80,000, with the offer available until 7th March 2025, or earlier if fully subscribed. Interest is added at maturity on 6th March 2026, and withdrawals are not permitted before then.
For those looking for even higher returns, GWCU’s Money@Work savings scheme offers an exclusive 7% AER to employees of partner organisations who start saving before the end of March. This initiative not only helps individuals grow their savings but also supports local businesses in providing valuable financial wellbeing benefits to their workforce.
James Berry, CEO of GWCU, said:
“As the Bank of England lowers the base rate, securing a competitive return on savings is more important than ever. Our Fixed Rate Saver and Money@Work savings scheme offer some of the best rates available, ensuring our members can make the most of their money while also supporting their local community. At GWCU, we remain committed to delivering fair and accessible financial solutions that benefit people across Bristol and the South West.”
As with all GWCU savings accounts, deposits are protected under the Financial Services Compensation Scheme (FSCS) up to £85,000, ensuring peace of mind for savers.
For more information about the Fixed Rate Saver, Money@Work, or other GWCU savings products, visit the website or contact the Member Engagement Team.
