Latest Events
members who would like access to their account balances v...
11 May 2009
Members at their AGM in February voted for a 2% dividend ...
03 Apr 2009
Our Mission Statement
Crownsavers exists to encourage savings and provide access to low interest borrowing, enabling its members to save and prosper whilst promoting the ideas and ideals of financial co-operation within the council, hospital, college and the wider community.
What does Crownsavers Offer?
- Easy way to save: Despite the best intentions in the world it is often difficult to keep back some extra cash for that rainy day or special occasion. We make saving simple.
- Members save regularly through direct payroll deduction on a weekly/monthly basis however small (minimum ten pounds per month or two pounds per week). Savings soon build up!
- Access to low cost loans: After you have been a member for three months, you can apply for a Credit Union loan based on the savings you have made. Interest is charged on all Crownsavers loans, at a rate of 1% a month (12.68%) this is calculated on a daily basis on the reducing balance of your loan.
- Access to energy loans: Once you become a member of the Credit Union Interest free loans up to £3,000 for the installation of domestic energy efficiency measures and renewable energy such as A rated domestic appliances and double glazed windows/doors etc.
- Free life assurance: Members' savings and loans are covered by our free life insurance policy. In general, every pound saved is matched by a pound of life assurance.
- In the event of permanent disability or death, outstanding loans are cleared under the terms of the insurance policy. Upon death, members' next of kin will also receive up to double the amount of savings depending on the age of the member.
- Family membership: Adult family members over 18 years who live at the same address can also join the Credit Union and enjoy all the benefits and services.
Membership Benefits
Credit Unions exist to encourage and provide the means for people to save regularly and to provide members with the means to access low-cost, fixed rate loans using their savings as collateral. Interest rates on loans are fixed by statute and interest is not payable on savings, although a union may declare a dividend to members from surpluses, which would usually be based on savings.
- Interest free energy loans
- Savings
- Life and Loans Insurance
- Loans at low rates of interest
- Dividend
- No hidden charges or fees
- Not for profit organisation
- Regulated by the Financial Services Authority
- Members of the Financial Ombudsman Scheme
Please contact us for any specific information you may need or if you have any queries about us or credit unions in general.