HISTORY

The Commsave Credit Union is a non-profit organisation which was formed in 1991.

Initially formed on 7th August 1991 as the Northamptonshire Postal Workers Credit Union to meet demand for such a service. 

The area of coverage was then extended to neighbouring counties, and on 22 November 1996 a change of name was necessary and so East Midlands postal Workers Credit Union was formed. 

To facilitate our future expansion into other areas we rebranded ourselves as Commsave Credit Union on 29 July 2002.

The Credit Union was set up to serve workers in the in the NN, NG, LE, DE and CV postcode areas (East Midlands) employed by one sponsoring employer: The Royal Mail. The Credit Union is a financial cooperative owned and run by its members. It is run on a 'not for profit' basis.

Every Credit Union must have a 'common bond'. Our 'common bond' is employees of The Royal Mail. The aim of the credit union is to encourage members to save and give them access to borrowing at reasonable rates of interest. Every Credit Union has a volunteer board. It is their role to set policy and ensure the credit union is operating within legislation.

The past 16 years have seen the membership of the Credit Union grow to over 2950.