Better Business / Member news
Great Western Credit Union launches 5% fixed rate saver bond
Great Western Credit Union (GWCU) has introduced an opportunity for savers in the South West with the launch of their Fixed Rate Saver bond, promising a lucrative 5% interest rate. This limited time offer requires a minimum deposit of £1,000 and is tailored towards socially conscious individuals keen on supporting their local community while saving.
The bond allows for a single deposit ranging from £1,000 to £80,000 and has been open for deposits since April 8. The window for deposits will close on May 10 2024, although closure could happen sooner if the bond becomes oversubscribed. Interest will accrue until the bond matures on May 9 2025. It’s important to note that withdrawals are not permitted after the deposit window closes but before the maturity date.
This opportunity is available to both existing members and new savers, including participants in Money@Work, GWCU’s employer partnership program.
James Berry, CEO of GWCU, emphasised the bond’s competitive edge in the market, especially for those in the South West. “Our Fixed Rate Saver offers an attractive rate of interest while enabling individuals to support their local community,” Berry stated. “We are committed to meeting the financial needs of our community ethically and fairly.”
In addition to the Fixed Rate Saver, GWCU recently relaunched its tax free, easy access Cash ISA, further expanding its offerings to provide savers in the region with returns that extend beyond conventional finance.
Savers with GWCU benefit from full protection under the Financial Services Compensation Scheme, safeguarding deposits up to £85,000—similar to the protections offered by banks and building societies.
For more information about the Fixed Rate Saver or other services offered by GWCU, visit the GWCU website or reach out to their customer service team.
Main photo: Jon Craig
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