Wales Co-operative Centre

Canolfan Cydweithredol Cymru

Credit unions and financial inclusion

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Credit unions offer an easy way to save, access to low cost loans and a range of other benefits.

They are financial co-operatives, owned and managed by the members who use them.

There are many benefits to joining a credit union:

  • Access to low cost loans
    A credit union loan is usually the cheapest way of borrowing £2,000 or less and is often more competitive than other lenders on larger amounts
  • Good returns on savings. Despite the current economic climate, many successful credit unions pay an annual dividend on savings
  • Secure savings facility
    Like banks and building societies credit unions are regulated by the Financial Services Authority so you can feel confident that your money is safe.
  • Other benefits include built in life assurance

There are currently 22 credit unions in Wales, for more information see financial inclusion on the Wales Co-operative Centre’s website.

Written by C Kenzie

April 20, 2010 at 11:36 am

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