New dawn for Taunton Deane & West Somerset Credit Union and also Bridgwater & District Credit Union
It’s a new dawn for both the Taunton & West Somerset Credit Union and also the Bridgwater & District Credit Union as they officially merge on 1st October 2017 to become the Somerset Community Credit Union. At the same time their new enlarged common bond will cover the whole of Somerset and North Somerset, which means that anybody who lives or works within these boundaries are eligible to join.
Members of a Credit Union all share a ‘common bond’ by either living or working in the same area or working for the same employer. Everyone’s savings help to grant low-cost loans to members once they have saved for at least three months. Loans are based on the amount saved. The interest charged is used to cover our running costs and pay savers a return on their savings.