Credit Unions and Banks: What’s the Difference?

credit unions and banks pros and cons

When it comes to borrowing and saving, naturally the first place many might think to go to would be a high street bank. However, there are other institutions that offer the same products that you may not be aware of such as credit unions. Credit unions and banks both offer a variety of financial products…

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What is a credit union?

credit union membership

A credit union is a not-for-profit co-operative, providing loans and savings accounts to its members. Their three main aims are: To provide loans at low interest rates To encourage regular saving To provide financial support and assistance to members and the community In 2022, the British credit union sector had over 1.44 million members, including…

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