Crownsavers Credit Union

Crownsavers Credit Union

At a glance


  • Financial inclusion

Other details

Geographical remit: 


Credit Unions are financial co-operatives owned and controlled by its members.  They offer savings and great value loans.  They are ethical; all profits after expenditure of running the credit union and regulation targets are returned to members by way of dividends.

Crownsavers Credit Union is therefore a not-for-profit financial co-operative. We provide savings and affordable loans to our members.  Crownsavers has been operating for 21 years.

We have around 2,200 members with savings of £3.2m and a loan portfolio of £2.3m.

The Credit Union is open to all employed from those on low income to professionals with high income.

We offer the credit union to all employees working within a South East London postcode.

Crownsavers Credit Union started its services in 1997. Since then, we have grown to play an integral role in our community. Originally known as Lewisham Employees' Credit Union, Crownsavers began by offering services to Lewisham Council employees. A few years later, we extended to include Lewisham University Hospital, Lewisham College, Lewisham Homes and several small organisations and Housing organisation.

Crownsavers' services had been available to anyone employed in the London Borough of Lewisham, now we covered the London South East Postcode Boroughs.

The board are all volunteers who work on behalf of the members to oversee the strategy, direction and compliance of the Credit Union.


Credit Union offers

  • Savings account to meet the needs of our members, they can save as much or as little as they can afford.

  • Easy & Safe saving – direct from from our partnership with their employers, payroll deduction or standing order.

  • Easy access to their accounts

  • No notice or transactions penalty

  • Affordable loans –interest is paid on the decreasing balance of the loan

  • Competitive interest rate ( everyone pays the same, whatever their credit rating

  • There are no arrangement fees, no early redemption penalty and final settlement fee

  • Free life cover – loans repaid in the event of death.

  • Covered by the Financial Service Authority (FSA) Compensation Scheme

  • Covered by FSA Complaints scheme

  • Authorised by the Prudential Regulation Authority (PRA) and Regulated by the Financial Conduct Authority (FCA)

  • Safe from the financial markets, we are not allowed to place members savings on the open market.

  • Human Contact

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