My Community Bank

 

A new credit union, My Community Bank, has launched, offering table-topping rates to savers across the UK

Credit unions are non-profit organisations, which typically offer savings products and loans. They're traditionally based in local communities, or among those in the same job. (See our Credit Unions guide to find out more.)

But the new My Community Bank claims to be the first nationwide credit union. It's open to anyone who supports the "culture, cuisine, finance or welfare of the South Asian community in the UK", as well as anyone living or working in the London borough of Brent.