Credit unions provide an alternative solution to banks that are traditional building societies for saving and borrowing

Credit unions provide an alternative solution to banks that are traditional building societies for saving and borrowing

District savings & loans

They could often beat the prices in the street that is high. We explain what are a credit union, the way they keep your money safe, as soon as they should be used by you.

In this guide

  • What exactly are credit unions?
  • Borrowing from a credit union
  • Preserving having a credit union
    • Quick access cost cost cost savings
    • Wake up to 1.45percent in a credit union ISA
    • Are my cost savings safe?
  • Do credit unions do other items?

What exactly is a credit union?

A credit union is a grouped community savings & loans provider

Usually, credit unions have already been tiny, non-profit organisations that are financial up by people with one thing in typical to profit their community. That typical element could be surviving in the exact same city, employed in the exact same industry (eg, the authorities Credit Union) or owned by a trade union that is particular.

Numerous credit unions are professionalising, having moved away from the guy and their ledger into the church hallway gathering cost savings and providing loans. Read more