Unlike conventional banks, credit unions are membership-based. Before you can borrow or save with us, you need to join and become a member.
What the Membership Fee Covers
As a member, you'll be entitled to:
- A Membership Account to borrow and save with us
- A share of our profits (called a 'dividend') when the credit union does well
- A say in how we are run, with a vote at our AGM
- The ability to apply for our range of loans at affordable rates.
Why We Charge a £2 Fee
As a not-for-profit institution, it's important that we remain financially sustainable, and that being a member of the credit union feels meaningful and worthwhile.
Your £2 fee helps to cover the cost of setting up your membership, sending your Welcome Pack, keeping our online banking services running, as well as affiliating the credit union to the Association of British Credit Unions (ABCUL), which lobbies on behalf of credit unions and supports the expansion of credit unions across the UK.
We think that for less than the price of a coffee, that's a pretty good deal. We are confident that if you make the most of your membership by moving your borrowing and saving with us, you'll more than make your £2 back.