Credit Unions

Credit Unions
Credit Unions

Credit Union A credit union is a community savings & loans provider. Traditionally, credit unions have been small, non-profit financial organisations set up by members with something in common to benefit their community. The common factor may be living in the same town, working in the same industry (eg, the Police Credit Union) or belonging to a particular trade union.

They're there to provide a financial community. The idea is that members mutually benefit as there's np profit for third=party shareholders. 

This can often mean helping those who can't get access to ordinary bank products; a lifeline in less wll-off communities for those grappling with their finances, Plus, they can be a welcome alternative tp payday loans or doorstep lending.

See the Money Saving Expert site for more information, and click here to search for your local credit union 

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