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Now let's Talk Money

Credit unions

Home > Services > Community and Living > Consumer Advice and Protection > Now let's Talk Money

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Credit unions are community based, not-for-profit financial cooperatives owned and controlled by their members. They offer savings and great value loans. Plus they are local, ethical and know what their members want.

Each credit union has a 'common bond' which determines who can join it. The common bond may be for people living or working in the same area, people working for the same employer or people who belong to the same association, such as a church or trade union.

Credit unions are regulated by the Financial Services Authority (FSA), and money saved in a credit union is protected by the Financial Services Compensation Scheme on the same basis as it would be if it was held in a bank or building society.

The Financial Services Authority (FSA) Credit Unions booklet could help you find out how credit unions can help manage your money, how you can join one, explains how you can save (or borrow) with one and answers some of the questions you may have.

Adobe Acrobat PDF icon Credit Unions booklet (pdf - 471KB)

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Contact details for your local credit unions are available below:

Johnstone Credit Union Ltd
address: 26 Church Street, Johnstone, PA5 8DU
phone: 01505 327 148
fax: 01505 382 132
email: enquiries@johnstonecu.co.uk
Renfrewshire-wide Credit Union
address: 39 High Street, Paisley, PA1 2AF
phone: 0141 889 7442
fax: 0141 848 6813
email: renfrewshirewidecreditunion@hotmail.co.uk
website: www.rwcu.org.uk




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