Commsave Credit Union Recognised for Work with the Seafarers’ Charity

Friday 17 May 2024

Commsave Credit Union was recently nominated for Initiative of the Year with the Seafarers’ Charity due to its creation of the Safety Net for Fishing Families project and attended the 2024 Fishing News Awards.

The partnership between Commsave Credit Union and the Seafarers’ Charity follows ‘Fishing Without a Safety Net’ research, commissioned by the Seafarers’ Charity, which shed a light on the challenges of living on a fishing income and concluded that it was essential steps were taken to create a ‘safety net’ to support the personal finance and financial resilience needs of fishing families.

As a result of this research, the Seafarers’ Charity approached the credit union and, since the partnership was forged, Commsave Credit Union has loaned nearly £854,000 – helping 64 fishing families access financial support, including match funded loans and home loans.

Commsave Credit Union CEO, Dominic Masterson said: “Our efforts to support fishers truly demonstrates the credit union difference – going the extra mile to meet our members’ needs. We’ve spent time to develop the products and services that address the particular challenges that fishers face – especially the need for affordable credit to help with essentials like boat safety. We’ve partnered with several organisations in the fishing industry to help provide a holistic approach to achieving financial inclusion for those most in need”

Furthermore, Impact Director at The Seafarers’ Charity, Tina Barnes said: “it is not the award that is important. It is the recognition and awareness of all that a credit union can do to help people to better manage their money and have a fair deal that benefits them, rather than the bank. Commsave have been brilliant in taking time to understand and learn about the needs of fishing families and to respond with products that can help.

I will always be very proud of credit unions and all they do to help people. For me – credit unions will always be winners.”