Tel: 0118 958 5803
Why is getting into the habit of saving such a good idea? Putting aside money is an important first step in planning for the future. It provides something to fall back on when the unexpected happens and helps give peace of mind.
We at the Community Savings & Loans encourage you to get into the habit of saving by putting some money away regularly however small.
By becoming a saver at Community Savings & Loans you could receive a dividend (an equal share in our profits), become entitled to a free whole life insurance policy, have a say in how we run the organisation, and become more likely to be eligible to for a loan.
After you have made your initial investment of at least £5 to become a member, you can save regularly from as little as £1 per week up to a maximum savings of £15,000
Ready to open an account with us?
To open an account with us, you need to fill in an application form, and provide evidence of your identity and address. You can download and print from the link below, or alternatively, you can get in touch with us using details listed here to request one to be sent to you in the post.
Photo ID - Passport or Drivers Licence
Once we have seen all three documents we can open your account and you can start to save!
How do I put money into my account?
There are a few ways you can put money into your account:
Cash/Cheque at one of our branches
Standing Order, you can get help with this by contacting us here
Bank Transfer, you can pay directly into your credit union account,
The Cooperative Bank, Sort code: 08-92-50, Account number : 67004913. Quote your member number as a reference. Get help with this by contacting our Reading office on 0118 9585803.
How do I take money out of my account?
For security reasons, you can only take money out of your account at one of our branches.
The Financial Services Compensation Scheme
Community Savings and Loans members are covered by the Financial Services Compensation Scheme (FSCS).
The FSCS can pay compensation to depositors if we are unable to meet our financial obligations.
Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000.
For joint accounts each account holder is treated as having a claim in respect of their share so,
for a joint account held by two eligible depositors, the maximum amount that could be claimed would be two times the maximum payout limit.
The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with Community Savings and Loans Ltd, including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch of Community Savings and Loans or refer to the FSCS website: www.FSCS.org.uk, or call 0800 678 1100.