Over 200 Commsave Credit Union Members Attend 30th Anniversary AGM

Thursday 25 January 2024

This month, over 200 members of Commsave Credit Union attended its annual general meeting, as the postal based credit union reported on a successful 30^th anniversary year.

Reporting to members, Commsave were delighted despite the distortions caused by the pandemic, Commsave proposed a dividend of 1.5% savings, and a loan interest rebate of 1.5% in line with its business plan projections.

Addressing members, Chairman Kundai Kafamba was pleased membership of the Commsave had grown by 8%, increasing membership to over 31,000. Savings grew by 35%, from £74.7m to £100.7m. “Encouraging members to save and build their financial resilience is part of our mission,” said Kundai. “Commsave has been a leading credit union in working to make sure the PrizeSaver scheme has continued beyond the initial pilot. The growth of PrizeSaver has enabled the prize structure to be improved. To date, Commsave members have won £91,230 in prizes.”

Commenting on another successful year for Commsave, Chief Executive, Amanda Ivey said: “As we continue to grow, we remain focused on continuing to invest in our staff and technology to ensure that we are able to serve you, our members, to an excellent standard.

“We’ve increased the number of staff we have in the office, who are all proud of our Trustpilot rating of 4.9, which demonstrates our commitment to helping our members in line with our values of being friendly, ethical and professional. The strength of our staff culture centres around the core belief that we are “People Helping People”.