GWCU announces new 5% AER/gross Fixed Rate Saver

Fixed Rate Saver is available to both new savers and current members, including those on Money@Work.

Great Western Credit Union (GWCU) has launched their brand new Fixed Rate Saver, which is available for a limited time to people across the South West, allowing savers to earn 5%  interest. With a £1,000 minimum deposit, this one-year bond offers a competitive fixed rate and is particularly appealing to socially conscious consumers who want to save whilst helping their local community. 

Savers can make a one-off deposit between £1,000 and £80,000.

Fixed Rate Saver will be open for deposits from 8th April 2024 and will close to deposits on 10th May 2024, although the closing date may be earlier if the Fixed Rate Saver is over-subscribed. Interest will be added on 9th May 2025 when the Fixed Rate Saver matures. Please note that withdrawals are not possible after the close date, and before the maturity date. 

The bond is available to both new savers and current members, including those on Money@Work, GWCU’s employer partnership scheme. 


James Berry, CEO of GWCU, said:

“Our Fixed Rate Saver is very competitive to others in the market and is unique to the South West region. We are helping people across our region who want to support their local area whilst also benefiting from a very attractive, fixed rate of interest on their savings. In doing this, we are committed to providing financial solutions that cater to the needs of our community whilst making our credit union one of the top sources for ethical and fair savings in the region.”

Together with Great Western Credit Union's recent relaunch of their tax-free, easy-access Cash ISA, savers across the region can gain returns that have a positive impact beyond traditional finance. Savings with GWCU also benefit from full Financial Services Compensation Scheme protection up to £85,000 in the same way as deposits at banks and building societies. For more information about the Fixed Rate Saver and other GWCU offerings, please visit GWCU’s website or contact their member services team. 


Important information 

AER (Annual Equivalent Rate) is the interest rate if interest were paid once a year, including any previous interest payments.

Gross is the gross interest rate paid before the deduction of tax

Published by
Posted on
08 April 2024