Credit Unions
A Credit Union is a community owned 'bank'; a non-profit making social enterprise, any surpluses being used for the benefit of its members. Credit unions are owned and managed by their members; run by local people for the benefit of local people.
Everyone who lives or works within the Credit Union area, and any member of their family who lives with them, can join. Many Credit Unions also have a Junior Savers Section for those under 16 years of age.
Credit Unions offer an easy and convenient place to save, and give access to low cost loans. Many now offer a range of other services including Child Trust Fund accounts, ISAs, insurance products, budgeting advice and debt management.
A Credit Union may suit you if:
• You want the flexibility to save what you can, when you can;
• You prefer the idea of a local, ethical co-operative which does not make a profit for outside shareholders;
• For any reason, you are having difficulty opening an account with a high street bank or building society.
If you would like more information on Credit Unions in Wales see the Wales Co-operative Centre's website.
View: Wales Co-operative Centre (external website)
Information on the location of Credit Unions is also available on the Centre's website.
or contact the Credit Unions in Wales Freephone Hotline on 0808 1454550.
