Credit unions
A credit union is a profit sharing, democratically run financial co-operative which offers convenient savings and low interest loans to its members. The members own and manage their credit union themselves.
A credit union aims:
- to encourage its members to save regularly
- to provide loans to members at very low rates of interest
- to provide members with help and support on managing their financial affairs (if required)
Benefits of a credit union are:
- it is an easy and convenient way to save and borrow
- it offers very low cost loans
- insurance at no direct cost
- it's a way to learn new skills
Pendle Borough Council work with the following credit unions: