Fixed Rate Saver

Enjoy the peace of mind of a fixed return when you lock your money away for a set time, knowing that your money is protected by the Financial Services Compensation Scheme (FSCS) and used to bring fair loans to local people.

This account offers 5% AER/gross.

Save with certainty

Your interest rate and date when the Fixed Rate Saver matures are fixed at outset and won't change.

Saving with us doesn’t just make you better off – it helps other local people have better finances too.

Start saving from £1,000 to £80,000
Fixed AER/gross interest of 5.00% payable on maturity date
Savings are protected by the Financial Services Compensation Scheme (FSCS)
12-month account
Open for deposits until 10 May, 2024

Things to consider

Once the Fixed Rate Saver starts, you cannot access your money until the maturity date.

The rate shown is a gross rate which means we won't deduct tax. It is your responsibility to pay any tax you owe to the HMRC.

Your account must hold a balance of at least £1,000 at the close date to qualify for the Fixed Rate Saver. If you wish to no longer hold the minimum £1,000 balance in the account, you must get in touch before the close date (10 May, 2024) to withdraw your money and close the account.

What would be the estimated balance be at maturity based on a £1,000 deposit?

Interest will be added at the maturity date at the rate of 5.00% AER

This means that if you deposited £1,000, the estimated balance at maturity would be £1,050

If you deposited your money 14 days earlier, the estimated balance at maturity would be £1051.96

Please read the Fixed Rate Saver terms and conditions before completing the application.

Why choose us

Your money allows us to offer fair loans to local people

Flexible savings accounts that allow you to save what you can, when you can

Your savings are protected by the Financial Services Compensation Scheme

We aim to offer a competitive return on your savings

FAQs

How can I withdraw money from my savings account?

You can access to your money via free transfers to any UK bank account, by logging in to your account online.

How do I pay into my savings account?

You can set up a bank transfer or regular Standing Order from your bank account.

You can find out the details you need to add money to your account by logging in to the member portal.

To pay in a cheque, you can request a pre-paid envelope by emailing info@gwcu.org.uk. Please make sure you include your name, postcode and member number on the back of the cheque.

If you need to pay in cash, you can request a free Allpay card which can be used to make cash deposits at any Post Office or Paypoint outlet. We cannot accept cash in the post or at our appointment-based services.

Our savings accounts are not set-up for day-to-day banking, so if you regularly need access to cash then we then we strongly encourage you to open a current account with a bank or a building society.

Are my savings protected?

Yes. Your eligible deposits with Great Western Credit Union are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Any deposits you hold above the £85,000 limit are unlikely to be covered.

Find out more about this

What is a dividend?

A 'dividend' is a share of the profit that we make, which is paid to our members each year. Over the last five years members have received a dividend between 0.5% -1% on their savings each year.

Members get to decide the dividend we pay at our Annual General Meeting, which is usually held in February and is open for all members to attend.

View more FAQs

I have regularly saved with Great Western Credit Union for over 10 years. It helps me budget and plan ahead for things like birthdays, Christmas and holidays. I like knowing my money is being well looked after, and staying local!

Rachael

How to apply

Check you are eligible

To apply for an Easy Saver you need to meet the following criteria:

Age 18 +
Live, work or study in the Bristol and Bath region, Gloucestershire, Wiltshire, Somerset or Dorset
Or be a UNITE and UNISON member from across the South-West

Have your documents ready

You'll need an email address and mobile number to start your application. Make sure you have your National Insurance number, plus proof of identity handy.

If you are unable to provide these during your application, you can save at any time and get in touch to discuss your options.

Get in touch

Start your application

Now that you have everything you need you can get started on your application. It takes about 15 minutes to complete your application and open your account. You can save your application at any time and come back to it later.

Get started