About UsHow Does it Work?

When you join a credit union, you agree to make regular savings every week, fortnight or month.
This can be as little or as much as the member can afford. Thus the basics of the way a Credit Union works is that:-

     •  Members save in a common fund

     •  This fund provides low interest loans to members (currently 13.4% approx
         flat rate, 26.8% APR)

     •  The interest generated from loans covers administration costs

     •  If the credit union makes any surplus after paying all costs, members vote at the AGM to decide how much  should returned to members as a dividend.