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Review of the Coventry Building Society, Savings:

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Not The Leading, But The Best For Us

I opened a regular savings account with Cov BS a year ago. This was quick and easy to request online. Forms arrived soon after in the post, which required signatures. I returned these in a pre-paid envelope, and my account was opened in just over a week. Internet banking/log in is scure, and I receive regular emails inviting me to view our statement online. I have telephoned once, and visited in-branch once for unrelated reasons - the customer service I received in both instances was quick, professional and friendly. Email communication is regular, clear, and concise. I also regularly participate in a Coventry BS panel along with other account holders and also Cov BS staff members to discuss all aspects of banking with Cov BS, to participate in polls, and to answer questions (sometimes with the chance of winning a reward). Since opening my regular savings account the interest rate has risen several times in line with the base rate, and this is always acted upon promptly. I have since opened an easy access account. I like the set up of the society and its internet banking, which is easy to navigate, and easy to set up payments to. I feel my money is safe - there are no shareholders to satisfy! On that basis, I have no reason to consider changing to another bank or building society. Reviewed on: 10th March 2023

Review of the National Fire Savers Credit Union, Savings:

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Dwindling Service

They discontinued their Savings Plus account, which offered a slightly better dividend to the main account, provided you open with and keep a balance of at least £1000. Earlier this year the account was suddenly closed until further notice with a brief explanation on their website that there was an unstable loan/savings ratio. However, unless you access and read the main page of the website, you wouldn't have known - they didn't email individuals who had opened a Savings Plus Account. On top of this, since the pandemic there is little staffing, so accounts are not updated for several days, which is extremely frustrating is you want to check your balance and that your standing order or transfer went through to your savings account! In the same vein you are unlikely to get a quick telephone response. If the ratio between loan applicants and savers is precarious maybe they should open up their credit union not just to employees, but to those who are retired (and who were never members when they were in the service); to members families; and to people who work closely with the fire services. I suggest this because they have a very low membership compared with other credit unions. All in all, disappointing membership. Reviewed on: 5th August 2022

Review of the Coventry Building Society, Savings:

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Regular Saver

We opened our joint account online in April. The whole process took one week, and we were set up with easy to view and manage internet banking. I transfer money regularly to this account from another bank, via internet banking. Coventry BS takes account security seriously, though it is straightforward to access your account. So far I have only needed to contact the Cov by telephone, and that was a query while the account was initially being set up; the lady I spoke with was professional, friendly and helpful. Since opening our account Cov BS have honoured the inflation rises by raising the interest rate some 3 times now (not all banks/building societies do this, and they're not obliged to). I also joined their separate site which sends out invites now and again (via email) to answer the odd survey or question. For one short survey I won £200 in M&S vouchers! I get the impression the Cov genuinely listens to feedback. Cov BS moderators regularly converse with customers on the blog section, and anyone can start a thread - most of the stuff on there is interesting with very few gripes! Sure, it's not the best rate out there, yet I like their set up and their features. They have a lot of accounts on offer - something for everyone, no matter what age. Wish we'd got involved with them sooner. Reviewed on: 5th August 2022

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