Our credit union network
Castle Community Bank is part of the Community Finance Network which is network of Credit Unions offering ethical financial products. Credit unions offer the same financial products as banks, but we want to encourage and build financial wellbeing for our members.
Frequently Asked Questions
How do I open a savings account?
You can apply online through My Community Finance. To open an account, you must:
- be at least 18 years old
- be a UK resident (excluding residents of Isle of Man and Channel Islands)
- have a UK sort code and account number
What is a Credit Union?
Credit Unions are not-for-profit mutual organisations that are owned by the people who use their services. This means each customer is a member and owns an equal share in the credit union.
Why is there eligibility and membership criteria?
Every member of the Community Finance Network has a membership structure as they are Credit Unions.
You’ll need to meet one of the following membership criteria to be able to save with them:
- being a member of an applicable trade union or association (e.g. Coop, National Trust, The Catholic Church, Church of Scotland etc.)
- having an occupation that matches the membership requirements
- sharing a household with an existing member of Castle Community Bank.
You can read through the membership requirements here.
Where are my savings held?
Your savings account is with Castle Community Bank. This means your money is held by us and your savings are protected by The Financial Services Compensation Scheme (FSCS) up to a value of £85,000 per person.