OneFamily savings rates — compare every account, plus switch offers and guides

Who they are

OneFamily was formed in 2015, after a merger between Engage Mutual Assurance and Family Investments, and is now headquartered in Brighton. Before that, Homeowners Friendly Society had later become Engage Mutual, then OneFamily - so there is a genuine heritage of mutual values running through the business. OneFamily is owned by its 1.5 million members. It serves roughly 1 in 12 families in the United Kingdom, and has over £7.4 billion of assets under management.

The core entity behind most OneFamily products is Family Assurance Friendly Society Limited (FAFSL), registered and incorporated under the Friendly Societies Act 1992, and authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA. That structure means it sits outside the traditional banking world.

What OneFamily offers

OneFamily offers a range of long-term savings products that may be of interest to those wanting to help their loved ones be better prepared for the future. As a friendly society, it can provide certain types of savings and investment products that you will not find with traditional banks or financial services companies. Its focus is firmly on family-oriented, goals-based saving - think Junior ISAs, Lifetime ISAs, and investment bonds - rather than everyday cash savings accounts like easy access or fixed-rate deals.

Protection to be aware of

OneFamily is covered by the Financial Services Compensation Scheme (FSCS), which is designed to pay customers compensation if they lose money because an authorised firm like OneFamily is unable to pay what it owes. For deposits such as cash ISAs, the limit is 100% of the first £85,000 and applies per person, per firm. Because OneFamily operates as a friendly society rather than a bank or building society, the nature of protection can vary by product type - it is worth checking the terms for any specific account you are considering.

Is it right for you?

OneFamily is not a mainstream cash savings provider. At the time of writing, DepositScout holds no active deposit products from them. If you are looking for a competitive easy access account or a fixed-rate bond, you will likely need to look elsewhere. Where OneFamily genuinely stands out is for families wanting tax-efficient, long-term wrappers - particularly Lifetime ISAs with the 25% government bonus, or Junior ISAs for children.

As always, check the live rates and product listings shown on this page for the most up-to-date picture before making any decision.