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Apply for Membership

Anyone living or working in our common bond can join. There is a small, one-off membership of £1.50 and a £1.50 per year membership fee.

Why join?

  • The credit union is owned by its members, i.e. you. You have a say in how the credit union is run
  • Savings are pooled and lent to other members, thus ensuring that funds stay in the local economy
  • We provide ethical, fair and competitive financial services to our members
  • Zero or low fees, see details here Click to DownloadSchedule of Charges (200.5kb)

A safe organisation

  • Savings of up to £85,000 are covered by the FSCS
  • Regulated by the Prudential Regulation Authority and the Financial Conduct Authority, the same organisations that regulate banks and building societies
  • SSL is a member of the Financial Ombudsman Scheme

We offer:

  • A selection of savings options; Instant Access account, a Christmas Savers account and a Childrens account
  • Access on-line to view your accounts, request a funds withdrawal and apply for a loan
  • Loans up to £15,000 with APR starting at 3.9%APR. No set-up fees and no early repayment penalties
  • An annual dividend based on performance. This usually greatly outperforms equivalent accounts, see here

How to join:

There are 2 ways to join, on-line or in person

To join on line you will need:

  • To be over 18 years old
  • Have a working email address to receive the link to the application form
  • Your personal information including your National Insurance number
  • A valid credit or debit card to make a payment of £10, which is a membership fee of £1.50 and an initial deposit of £8.50 which goes into your Instant Access account.
  • To be prepared to have an on-line identity check made - this will not affect your credit rating

Please click here and submit your email address. We will send you an email containing a link to the online membership form. Sending you this email is part of our security protocol which helps protect your online identity.

To join in person:

Alternatively we can send an application pack for you to return by post. Please call us if you would like us to do this.

Call us:
  • Tel.
  • 01275 390650
Opening Hours
  • Mon - Fri
  • 9.30am - 4.30pm
Visit us:
  • Thu
  • 9.30am - 12.30pm / 1.30pm - 4.30pm
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Somerset Savings & Loans is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential
Regulation Authority. FCA & PRA FRN: 230768