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Mutual Financial Services

Mutual and Ethical Savings  

Credit unions offer a range of savings accounts that allow you to save as little or as much as you can afford. Credit Unions serve the community, so when you invest in your local credit union you know that the people who are benefiting are your neighbours or colleagues and not outside shareholders.

Deposit savings at convenient branches, local shops, collection points, by direct debit or directly from your wages. Credit unions aim to pay a dividend on savings once a year to all it's members. Dependent upon performance this can be as much as 8% of the total amount that people have saved. 

All money saved in a credit union is protected by the Financial Services Compensation Scheme


Affordable Loans

Some credit unions loans will cost you no more than 1% a month on the reducing balance of the loan (an APR of 12.7%). Many credit unions charge less, some may charge more but by law this cannot be more than 3% a month on the reducing balance (an APR of 42.6%).

Loans come with no hidden charges and no penalties for repaying the loan early and you can also carry on saving, meaning that by the time you finish repaying the loan your savings would have grown as well.  

You can work out how much a credit union loan could cost you by using our handy Loan Calculator on the right


This table illustrates what you would repay if you borrowed £500 over 1 year.


Loan Amount


Total Repayable









Illustration only - check directly with your credit union