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St Mary’s collection point:

Severn Four Credit Union has insurance to fully compensate members in case it goes bust. It is regulated by the Financial Services Authority and has insurance to protect savings against theft or fraud.

Credit unions are owned and managed by members from a local area – all profit is returned to the members themselves, not used to line the pockets of millionaires. Last year the credit union paid its savers a 3% dividend.

St Mary’s church in Shirehampton runs a Severn Four Credit Union collection point where people can save money every week. It is open every Friday morning from 10.30 to 11.30am. The collection point encourages people in Shirehampton to get into the habit of saving regularly. It has been a great success, with many members saving regularly at the church. St Mary’s savers can enjoy a cup of tea or coffee and good conversation when they drop in! David Froude said…..

“It’s warm and comfortable in St Mary’s, and as most people in Shirehampton already know, you get a real welcome too. It’s so easy to drop in and save on a Friday morning.”

Children can join the ‘Money Munchers’ saving scheme. Teenagers can join the new ‘MyBank’ saving scheme. Adults can open a regular Severn Four Credit Union account. Low cost loans are available after 8 weeks of regular saving.

Severn Four Credit Union is a not-for-profit, community organisation offering an easy way to save and borrow money. Members’ savings are used as a pool from which to make loans to other members. Membership is open to anyone who lives or works in the Bristol area.