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Updated 24th Oct 2009 CJS

Credit unions are financial co-operatives owned and controlled by their members. They offer savings and great value loans plus they are local, ethical and know what their members want.

 

Each credit union has a "common bond" which determines who can join it. This determines who can become a member of the credit union. The common bond may be for people living or working in the same area, people working for the same employer or people who belong to the same association, such as a church or trade union.

 

Credit Unions are authorised and regulated by the Financial Services Authority (FSA) and all money saved in a credit union is protected by the Financial Services Compensation Scheme (FSCS) up to a total of £50,000 per member.

What is South Manchester Credit Union?

Who can join?

Membership is open to peple who live or work in the Common Bond, which is the wards of Barlow Moor, Burnage, Chorlton, Didsbury, Fallowfield, Levenshulme, Old Moat, Rusholme, Whalley Range and Withington. See map. Under 16's can join our Junior Savers Club.

Why join?

By becoming a Saver you can then Access low cost, flexible loans

 

Your money is safe since savings are automatically insured and if you die your dependants can get up to twice the value of your savings (actual value depends upon your age) and any outstanding loans are paid off.

 

There are collection points at various points in our area, or you can make payments by standing order.