Community Savings is a self-help savings and loan co-operative whose purpose is to encourage members to save regularly, make available low interest rate loans and provide them with free financial advice. Membership is obtained by forming or being part of a common interest group.

The Common Interest Groups are run by committees of unpaid voluteers. Typical examples of CIG’s would be a Tenants Association, a group of single parents, a Workers Union, Clubs and Associations. They are usually formed by groups of at least twenty individuals, but smaller groups can be considered. Community Savings can also assist with the administration of the common interest group itself, if required.

Lump sum payments can be made, but must be of at least £50. Lump sum payments must be deposited with Community Savings for at least three months before they can form the basis of a loan.

Any profit made is returned to members or used for their respective group’s costs.

All business with Community Savings is conducted in the strictest confidence - Data Protection (Jersey) Law 2005.

The activities of Community Savings Ltd are supervised by the Jersey Financial Services Commission.