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Credit Union

Stockport Credit Union is a voluntary organisation led by its members and managed by volunteers.  Anyone who lives or works in Stockport can become a member and save with the credit union.  There is no minimum weekly or monthly amount you need to save and you can withdraw money by giving a week's notice.  Your money's safe in the credit union, which is regulated and approved by the Financial Services Authority and covered by the Financial Services Compensation Scheme.  Regular savers can borrow from the credit union after saving for at least 10 weeks - loans are directly related to savings, as the first loan is a maximum of twice savings and any other loans are a maximum of three times savings.  The interest rate is very low - e.g.: for a loan of £100 repaid at £2.15 per week over 50 weeks, the interest will be less than £6.50 and for a loan of £1,000 repaid at £21.50 per week over 50 weeks the interest will be less than £65. 

Services offered

http://www.stockportcu.com