Credit unions are financial co-operatives owned and controlled by their members. They offer easy and convenient ways to save and borrow, offering low cost loans to members. There are now nearly 500 credit unions in the UK; all regulated by the Financial Services Authority.
Set up over ten years ago the Stroud Valleys Credit Union has a while back extended the area it covers and can now accept members living or working in the whole of the Stroud District Council area. Members can save as little or as much as they wish each week at collection points manned by volunteer collectors or save by standing order. Low cost loans are also available to members, with the maximum interest charged, 1% a month. For further information please visit www.svcu.org.uk
As a long term supporter I have been meaning to give this a bit of publicity for ages - well here finally is a blog on it - and with the current economic situation it has never been more important time to join and support this group.