Welcome to our help section. Please select a category below
to find answers to some of the most common questions.
 | Are my savings secure? |  | Yes as of 1st July 2002, the Financial Services Authority has taken over responsibility for regulating credit unions.
Prior to this it was in the hands of the Register of Friendly Societies.
All credit unions will have to operate under the same rules as the banks and building societies and will be part of the Financial Services Compensation and Complaints Scheme.
This should give you even more confidence in the knowledge that your credit union is regulated just like your own bank or building society. | |
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| Can I withdraw my shares at any time? | | Yes, you can withdraw your shares at any time unless your loan balance is greater than your shares. (Currently under review) | |
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| Who can apply for loans? | | Anyone who is a member, is over 18 and has been saving regularly with the credit union for at least three months, may apply for a loan. The credit union is there to get you into a habit of saving, and if you can show that you can save regularly it indicates that you will repay a loan regularly. | |
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