About us
How we are different
Did you know that over 1,000 firefighters (including retired) of West Midlands Fire Service regularly save (& borrow) through their pay/pension with Firesave Credit Union, a not-for-profit financial co-operative established in 1992 ONLY for WMFS firefighters (plus retired firefighters, families and support staff).
These regular savings create and grow a pool of funds from which colleagues can borrow ££ with low interest rates that are legally capped and repay loans directly from their salary/pension. E.g. cars, holidays, home improvements.
Every £1m your credit union lends saves over £750,000 in interest in loan repayments by borrowing from Firesave instead of alternative lenders. This puts more £££ in the pockets of our firefighting heroes to spend in the local shops and businesses thus helping to grow their local economy!
Unlike a typical high street Bank
We are a membership-based, not-for-profit co-operative
We are owned by our members and run for our members
We promote healthy money habits by encouraging members to save as well as borrow money
We pay surplus profits to our members as dividends on savings
Our ethos is to provide fair & affordable financial services for local people
We’re part of a global movement of 57,000 credit unions in 105 countries with 217 million members
Your eligible deposits are protected up to £120,000
Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £120,000 by the Deposit Guarantee Scheme.
