Benefits of joining a credit union.
These are some of the benefits of joining a credit union:
- A ‘not for profit’ organisation run purely to benefit its members. Democratically-owned and controlled by membership
- Profits are returned directly to the members. Credit Union aim to pay a dividend on savings to adults and juniors
- Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We are also in the Financial Services Compensation Scheme which covers every member's pound for pound so no members lose their savings in the event of a collapse suffered by the Credit Union
- Saving money with your Credit Union is easy – you can pay into your account locally at the office or by standing order
- Flexible savings account for adults to suit your needs.
- Savings account for Special Occasions e.g Christmas
- Junior Savings Accounts
- Low cost loans – no charges for early repayment
- Free life savings and loan insurance (subject to status)
- Training is provided for volunteers
- Benefits the community
- Credit Union provide a friendly and local service