Do you want to benefit from highly competitive rates on loans and savings? And get support on how to manage your money better?
Then you may want to consider becoming a GMB Credit Union (GMBCU) member. Keep reading to discover exactly who we are, how we support our member’s financial wellbeing, and what you need to do to apply for a GMB Savings or Loan account.
What is the GMB Credit Union?
GMBCU was established in 1999 to provide “simpler, fairer savings and loans” for our members and their families.
GMBCU is not like a bank or a loan company which are profit-motivated. We exist solely to serve a defined community of people and we are a not for profit organisation.
GMBCU is entirely owned and operated by GMB members - their voice is GMB’s voice and everything we do is for the community. For instance, we assist in educating our members on topics based on their needs, such as sensible borrowing and saving.
GMB members gain access to very competitive savings and loans
Our interest rates on savings and loans are highly competitive. Plus, all easy access savings account holders get an annual dividend at the end of the year.
We have an established reputation for being fast, safe, fair, efficient and incredibly member-centric. Let’s look at why in more detail.
Why we’re ethical
We are not-for-profit and focused on the financial wellbeing of our members. Unlike a lot of banks, GMBCU doesn’t speculate on the money market in an attempt to profit from short term fluctuations. Nor do we hold unethical investments.
Instead, we ensure that money circulates for the benefit of the GMB community by pooling member savings and then lending to other members. So, everyone can benefit rather than a small exclusive group of people.
The financial wellbeing of our members is incredibly important to us. As such, we encourage them to save by offering competitive interest rates on our easy access savings accounts.
We also promote wise borrowing and aim to save members money through very affordable loans. GMB members can apply for a loan straight away and there is no need to save before borrowing. To date, GMB members have borrowed over £60 million from their Credit Union.
GMBCU members get the financial support they need to stay on top of things through transparent, clear and straightforward support. They can also rely on us to keep their money safe.
Why we’re secure
GMBCU is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulator Authority (PRA). The purpose of these authorities is to protect customers by ensuring its members - Credit Unions, banks, building societies, other savings and providers and independent financial advisers - meet its strict regulatory standards.
Moreover, GMBCU members’ savings are fully protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
How to apply for a GMB Member Loan or Savings Account
Applying for a GMB Loan or Savings Account is easy. The application for both accounts can be completed online via our web site. Just follow these simple steps:
Step 1: Apply as a GMB member on our Credit Union website. You can do this for free by completing the web site loan or the savings application.
Step 2: Simply go to the home page of the Credit Union web site and click ‘read more and apply’ in the Loans or Savings boxes
Step 3: Then click the apply for loan or savings button.
Step 4: Enter your details. You will need your GMB Trade Union membership number which you would have been given when you first joined GMB.
Step 5: Check your details and submit your application which we will acknowledge.
Step 6: We will then contact you using Nivo, our instant messaging app with in-built banking grade security features. This ensures your data is 100% secure. It’s also super easy and fast to use, saving you time and energy.
It’s not too good to be true
We really can help you achieve your wildest financial goals and give you the most competitive rates.
Want to talk it over with a human? Chat to one of our specialists on 0161 486 1777. Our telephone lines are open from 9.00am till 3.00pm, Monday to Friday.
You can also email us at firstname.lastname@example.org. We can’t wait to hear from you.