Commsave Credit union propose positive dividend returns for members

Tuesday 16 January 2024

Commsave Credit Union were pleased to report that despite many challenges in the second half of the financial year ending 30th September 2020, the Credit Union was able to continue to deliver an excellent service to members and finish the year with a healthy surplus.  

Addressing members at its first virtual AGM last week, Commsave Treasurer, Mohammed Braimah was pleased to propose a 2.25% dividend return on members’ savings as well as a loan interest rebate of 2.25% to members who made their loan repayments in line with their agreement. “We believe it is important to make sure that all members who have played a role in the success of Commsave receive their share of the surplus. This is the credit union difference,” said Mohammed.   

As well as the fantastic figures for savings and loans, during the lockdown period, Commsave staff wanted to support members in a slightly different way when they realised many were completely isolated and going long periods of time without anyone to speak to. They launched  the ‘Let’s Talk’ campaign and in the months that followed had conversations with members in all kinds of situations with the hope that it was as useful for the members as it proved rewarding for the staff who participated.  

The year also saw Commsave Credit Union welcoming new members following its successful merger with the former Harvest Money Credit Union. Reflecting on the past year and looking ahead to 2021, Chief Executive of Commsave Credit Union, Amanda Ivey said: “As Commsave enters its 30th year, I am extremely proud to have been part of its development for the past 15 years, and have seen a great deal of change over that time. As the organisation grows, we continue to invest in our staff and technology to ensure that we are able to serve you, our members, to an excellent standard.”