Why work with a Credit Union?

Why work with a Credit Union?

There are lots of great reasons why you should join a credit union

  • Credit unions save you regularly, borrow responsibly and constantly look out for finances.
  • Credit unions allow it to be an easy task to save – also a bit conserved every week will soon mount up.
  • Numerous companies have actually partnerships with credit unions which enable staff to save lots of and repay loans direct from payroll.
  • As co-operatives, credit unions share their earnings along with their people. This can indicate savers will get a dividend on the cost savings every 12 months, that could be just as much as 3%.
  • Credit unions provide affordable loans, which could start around reduced term loans of the few hundred pounds to bigger loans for breaks, investing in a motor vehicle, house improvements and on occasion even home financing.
  • Credit unions tend to be in a position to provide credit to individuals whoever circumstances might suggest they find it difficult to get financing off their lenders.
  • Credit unions provide really competitive prices on loans of most sizes. For smaller amount loans, interest on credit union loans is often far lower than that charged by home lenders and payday lenders.
  • All money saved in a credit union is protected because of the Financial solutions Compensation Scheme as much as the worthiness of ВЈ85,000 per individual – exactly the exact same standard of security as cost savings in a bank or building culture.

Just how much could a credit union help you save?

Joining a credit union

In order to become a credit union user, you will need to go to or phone your selected credit union to verify exactly just just what information you’ll need to participate, they’re going to additionally counsel you associated with process that is joining this might vary between credit unions.

Numerous credit unions are in possession of a web site, with a number that is increasing additionally providing online application solutions for loan and cost cost savings records, plus online banking and account administration solutions via web sites and mobile apps.

Anybody can registered as a member, nevertheless you must share a bond’ that is‘common other people such as for example:

  • Real time or work with the area that is same
  • Work with the employer that is same other users
  • Are part of the church that is same trade union or other relationship
  • Organisations, in addition to people, can join up now

You should use this website to look for a credit union, predicated on information that be important for your requirements, such as for example house postcode, the organization you work with, specific organisations or associations that you could fit in with etc.


All money conserved in the Financial protects a credit union services Compensation Scheme. With them these are protected up to the value of ВЈ85,000 if you have savings

Credit unions are authorised by the Prudential Regulation Authority and managed by great britain Financial Conduct Authority.

It is possible to deposit cost savings at neighborhood branches, stores, collection points, by direct debit or straight from your own wages. Accessing your cash usually takes the type of an account that is current or pre-pay card but as credit union solutions differ you ought to contact your selected credit union straight to discover more.

Each credit union features its own rates of interest therefore you should speak to your chosen credit union direct to talk about in more detail.

Anybody can are a member, you must share a bond’ that is‘common other users such as for instance:

  • Real time or work with the exact same area
  • Work with the employer that is same other users
  • Are part of the church that is same trade union or any other relationship
  • Organisations, in addition to people, can now link up

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