What is a Credit Union?

• Credit Unions are not-for-profit organisations which are owned and controlled by members, with no outside shareholders to satisfy. Members save regularly every month, and this forms a pool of money which is lent to members by way of loans at reasonable rates of interest.

• Members can get involved as much or as little as they like – from simply saving and borrowing to attending the Annual General Meeting where members elect Directors and vote on the share dividend or even becoming actively involved as volunteers.

• Join a credit union and you become part of a huge worldwide movement of over 200 million people!

Membership Benefits –
10 Reasons to Join The Co-op Credit Union

  1. 1. The Co-op Credit Union provides an easy way to save, from a little as £10 per month and these regular amounts soon build up.
  2. 2. You can change the amount you save and withdraw money easily too with online member access or by emailing us
  3. 3. Your savings are safe – Credit Unions are regulated by the Financial Conduct Authority and the Prudential Regulation Authority, just like banks and building societies. Members’ savings are protected by the Financial Services Compensation Scheme (FSCS).
  4. 4. Depending on reserves, shares (savings) are eligible for an annual dividend.
  5. 5. As we are a ‘not for profit’ financial co-operative, our surplus profit is returned to members via the annual dividend.
  6. 6. We are an ethical savings choice.
  7. 7. We provide affordable loans for members at very competitive rates of interest.
  8. 8. Loans are available for new and existing members.
  9. 9. There are no hidden charges or fees on any transactions and no early settlement fees.
  10. 10. The credit union is owned by members and run for the benefit of members – so you share in our success.

Who can join The Co-op Credit Union?

The Co-op Credit Union is open to current employees and pensioners of a range of co-operative organisations- see those listed below. Family members of employees can also join provided that they are living at the same address and over the age of 16.

You can join The Co-op Credit Union if you are employed by: The Co-op Group, Co-op Financial Services, Southern Co-operative Society, Mid Counties, Radstock Co-operative Society, Heart of England Co-operative Society, Tamworth Co-operative Society, Channel Islands Co-operative Society, East of England Co-operative Society, The Association of British Credit Unions Ltd, Co-operatives UK, The Co-operative Academy, The Co-operative College, Unity Trust Bank, The Co-operative Bank, The Phone Co-op, Central England Co-operative, The Co-operative Academies Trust, The Co-operative Party, The Charities Aid Foundation, FC United of Manchester, Lincolnshire Co-operative Society, The Co-operative News, The Woodcraft Folk, SUMA Wholefoods, Unicorn Grocery Manchester.

Or if you are a member of: The Phone Co-op, USDAW, Co-op Store Membership, The Co-operative Party, Mid Counties Co-operative Society, FC United of Manchester, FC United of Manchester Supporters Group, The Woodcraft Folk, Unicorn Grocery

Or if you are a pensioner of an employer listed above.

If you have any questions about your eligibility to join, please contact us, we’ll be happy to advise. 

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