What is a Credit Union?

Answer 1

A Credit union is a member owned not for profit financial cooperative, which offers a full range of financial services to it's members.Members benefit generally benefit from higher rates on savings, lower rates on loans and fewer charges.

In the Uk a Credit union is regulated by The financial Services Agency and is a member of The Financial Services Compensation Scheme.

Here is a link to find your nearest Credit union.

http://www.findyourcreditunion.co.uk/home