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Credit Unions

MoneyCredit Unions are mutual financial organisations which are owned and run by their members for their members.

Once you've established a record as a reliable saver they will also lend you money but only what they know you can afford to repay.

Members have a common bond, such as living in the same area, a common workplace, membership of a housing association or similar.

Credit Unions are regulated by the Financial Services Authority (FSA), and money saved in one is protected by the Financial Services Compensation Scheme on the same basis as it would be if it was held in a bank or building society.

In Cheshire West and Chester there are two main credit unions open to residents of different parts of the area. 

More information on credit unions is also available from the website of the Association of British Credit Unions Ltd.