Communal Co-operative Credit Union review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Communal Co-operative Credit Union pairs an easy access savings account with a debit card, so members can save and spend in one place. A monthly fee of XCD 0, a variable rate paid quarterly and no set deposit keep it simple, and the lending side runs direct from the same building.
Key facts
Savings
Loans
Mortgages
- Purpose
- Purchase↗
Facts checked September 26, 2026, 8 sources
Apps and profiles
- Elsewhere
- facebook.cominstagram.com
Pros and cons
Pros
- A monthly fee of XCD 0 on the everyday transaction account, with a minimum deposit of XCD 0 and no set monthly deposit.
- Interest is paid quarterly on a variable rate, so the balance stays accessible rather than locked away.
- Lending is direct, with personal, secured and car available plus property and home loans, including purchase.
- The debit card is tied to the transaction account, keeping day to day spending and saving together.
Cons
- Support runs on phone only, so written or online help is not part of the picture.
- The variable rate can move, so the return on savings is not fixed while the money is in the account.
- Joining means buying shares and paying a registration fee, plus two picture IDs and proof of address, more steps than opening a prepaid account.
Who it suits
- Members in GD who want everyday spending and saving in one account with no monthly charge.
- People who want a variable savings rate with quarterly interest and no set deposit.
- Borrowers looking for personal, secured, car, business and property loans from a direct lender.
Who should look elsewhere
- AccessMore suits anyone wanting a prepaid card rather than a member account tied to savings.
- Skrill suits people who would rather hold a prepaid wallet and card than a local credit union membership.
- Plazo ES suits anyone wanting a virtual card and borrowing on its own terms.
How Communal Co-operative Credit Union compares
9.1 vs 9.4
9.1 vs 9.0
9.1 vs 8.9
9.1 vs 9.4
9.1 vs 8.7
9.1 vs 9.2
9.1 vs 9.4
9.1 vs 8.7
9.1 vs 9.3
9.1 vs 8.9
9.1 vs 8.6
9.1 vs 9.2
9.1 vs 8.4
9.1 vs 8.5
9.1 vs 8.8Skrill uses a prepaid card, so it suits people who want a stored balance and card payments rather than an easy access savings account with quarterly interest.
9.1 vs 9.0
9.1 vs 8.6
9.1 vs 8.3
9.1 vs 9.5
9.1 vs 9.4
9.1 vs 9.4
9.1 vs 9.3
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9.1 vs 9.2
9.1 vs 9.1
9.1 vs 9.1
9.1 vs 9.1
9.1 vs 9.1
9.1 vs 9.0
9.1 vs 9.0
9.1 vs 9.0
9.1 vs 8.9
9.1 vs 8.8
9.1 vs 8.7
9.1 vs 8.5
9.1 vs 8.4
9.1 vs 8.0- 9.1 vs 8.0
Where Communal Co-operative Credit Union is available
- Available
- Grenada
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Is there a monthly charge on the account?+
There is no monthly charge on the everyday transaction account. The monthly fee is XCD 0 for members, and the account carries the Communal Visa Debit Card for day to day spending.
What kind of savings account is it?+
It is an easy access account, so the balance is available without a fixed term. The rate is variable and interest is paid quarterly, which suits saving in smaller sums rather than one lump deposit.
Do I have to put money in every month?+
No set amount is required. The minimum deposit is XCD 0 and there is no set monthly deposit, so you can pay in when it suits you and let the balance grow between payments.
What card comes with the account?+
It is a debit card, the Communal Visa Debit Card, linked to the transaction account. Spending and saving therefore run through a single membership rather than two providers.
Can I borrow from the same place?+
Yes. Lending is direct from the credit union and covers personal, secured and car, and property and home loans are also available, including purchase. That means a member can hold savings and a loan without moving providers.
How do I become a member?+
Members buy shares at a set price and pay a registration fee. You also need two picture IDs and proof of address, with a birth certificate for younger members and a Tax Identification or Social Security number for overseas members.
How established is the credit union?+
The legal entity is The Communal Co-operative Credit Union Ltd., founded in 1964 and based in Grenada, so it is a long standing local institution rather than a new entrant to the market.
What help is available once I am a member?+
Support runs on phone. If you have a question about the balance, the variable rate or a loan, a phone call is the main route to an answer.
Sources
- thecommunalcu.com checked September 26, 2026
Backs: Headquarters
“Head Office, Halifax Street, St. George's, Grenada, W.I.”
- thecommunalcu.com/about/contact-us checked September 26, 2026
Backs: Support channels
“Tel: (473)440-1755”
- thecommunalcu.com/about/history checked September 26, 2026
Backs: Card type
“introduced its International Debit Card in April 2014”
- thecommunalcu.com/about/overview checked September 26, 2026
Backs: Founded, Legal entity
“was founded in 1964 and registered as a financial co-operative in 1965”
- thecommunalcu.com/accounts/communal-accounts checked September 26, 2026
Backs: Pricing model
“With no monthly fees on any of our deposit accounts, start saving today”
- thecommunalcu.com/accounts/saving-accounts checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Monthly fee, Rate type
“Regular Savings: Opening/Minimum Balance: $35; Interest paid quarterly; No set monthly deposit required”
- thecommunalcu.com/join-the-communal checked September 26, 2026
Backs: Eligibility
“Present two picture IDs (National, NIS, Passport, Drivers Licence) ... Purchase 100 shares at $5.00 per share, total value of $500.00 (within 3 months) ... Overseas members must present Tax...”
- thecommunalcu.com/loans/communal-loans checked September 26, 2026
Backs: Lender type, Loan types
“we leverage the expertise of our Credit Administration Team to support you in the pursuit of your dreams by providing affordable and attractive financing”
- thecommunalcu.com/loans/property-and-home-loans checked September 26, 2026
Backs: Purpose
“Home & Property Loans - House Construction, Purchase, or Renovation; Land Purchase”
Compiled from 9 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.
Communal Co-operative Credit Union
Members who want everyday saving and spending on one fee-free account, plus borrowing from the same lender.