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Joining a credit union could make Christmas 2023 much easier!

Posted: February 14, 2023

Why use a credit union?

There are many great reasons to join one:

  • Credit unions help you save regularly, borrow responsibly and keep on top of your finances.
  • They also make it easy to save – even a small amount saved each week will soon mount up.
  • Many offer specific Christmas saving schemes, giving you a big head start for the 2023 festivities.
  • Many employers have partnerships with credit unions, allowing staff to save or repay loans direct from their payroll.
  • Being cooperatives rather than businesses, credit unions share their profits with their members.
  • They are often able to provide credit to people whose circumstances mean they struggle to get a loan from banks and other lenders.
  • Credit unions offer very competitive rates on loans of all sizes. For smaller sums, interest on a credit union loan is always much lower than rates charged by doorstep and payday lenders.
  • All money saved in a credit union is protected by the Financial Services Compensation Scheme up to the value of £85,000 per person – exactly the same level of protection as savings in a bank or building society.

To find your local credit union, go to www.findyourcreditunion.co.uk