Credit Unions

Credit Union are a great way of saving, they have no share holders so no big fat cats wanting to make profits from the company, so all profits made go right back into the members pockets! Many offer a large range of financial services such as savings, loans, current accounts, mortgages, insurance etc. Depending on where you live their may be a few different credit unions available to you. I live in Glasgow and have 2 really big ones as well as my small local one available. They really are the sensible way to save, meaning you have the option there also to access their low interest loan rates! It's really good for the small emergency loans, the big banks won't even look ...  Read the complete review

I have been a member of my local Credit Union since it started, about 10 years ago. In fact, I am proud to say that I am Member number 31! Although Credit Unions all have points in common, there are also differences so I will start with a general look at Credit Unions, before looking at my own experience. ~What is it?~ ***************** A Credit Union is basically a financial cooperative, owned and controlled by its members. They offer affordable loans and encourage members to save. They are run by a volunteer board of directors democratically elected by members. Anyone can join, as long as they are part of the 'common bond'. This could be people ...  Read the complete review

A lot of people dont realise what credit unions are, do you ? I am in two credit unions, one was from my time in the police and the other is the local credit union were i live. i have been a member of each for about 5 years. I live in a private house, mine yeahhhh! at last...sorry but we lived in a concrete flat with noisy neighbours. I needed initally to start to save for the deposit on my house. now im not on a lot of money, i have a retirement pension which produces a small income. We wanted to buy our own house, to be honest if you saw where we lived so would you. I knew that if i put money in the bank i would dip into it so i needed it locked ...  Read the complete review

For me the Strathclyde Credit union has been a godsend. I will admit it I'm a terrible saver any money I earn goes in one hand and straight to the nearest shop. I have tried savings accounts many times but as soon as I deposit the money I am back to withdraw it a few days later after seeing a much needed purchase. One of my collegues told me about the credit union and I decided to join as she made it so tempting and easy. I work for what was then Strathclyde Council in the education department but it got split up into regions but at the time it allowed me to join the largest credit union in Glasgow. How you join: Joining is very ...  Read the complete review

I have been a member of my local credit union, Walsave, since it began 3 years ago as both a saver and a borrower. I joined via my then employer, Walsall MBC, who were sponsoring the setting up of the Credit Union. The authority initially paid the salary of the Credit Union manager together with providing the office space free of charge. The whole thing has grown rapidly and now pays its own manager plus two further staff. It has also encompassed other areas to increase the number of members – South Staffs Water Works and Neighbourhood Committees for example. You can borrow up to four times the amount of your savings and set a monthly ...  Read the complete review