Credit Unions are different from banks and other financial institutions. Members pool their savings to provide each other with credit at a low interest rate. Credit unions are community oriented and their purpose is to serve people rather than maximise profits which is why they offer loans at a lower interest rate than from Banks and other financial institutions. There will usually be a common bond shared between members as such. The services offered are similar to those offered by banks but they use different terminology e.g. share accounts instead of savings accounts. It is usually the case that you have to be a member of a credit union before you may deposit or borrow money.
Please click on the links below to see details of credit unions that have links with one or more of our Devon Home Choice Partners.