Credit Unions are financial cooperatives. That means we are owned by our Members (that's you!). We are not permitted to be owned by a big corporate or remote shareholders. Our shareholders are the people who save and borrow with us.
There are approximately 300 credit unions in the UK with about 2million Members. We manage about £2billion savings. Globally there are thousands of credit unions, serving millions of people.
We are not-for-profit. That means that our surplus is reinvested back into the business or distributed to our Members as a dividend, usually paid annually.
We are regulated by the PRA and FCA.
Savings with us are protected by the FSCS.