FAQs

Yes, your savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, just like with banks. https://www.fscs.org.uk/

Typically, memberships are open to people who share a common bond, such as living or working in a specific area, like a postcode, or being part of a certain employer or community group.

You can usually apply online or in person. You’ll need to provide identification, and proof of address, and may need to make a small initial deposit.

Yes, you can hold multiple accounts, including savings and loans, all under one membership.

Yes, credit unions are often more flexible than traditional banks and may offer loans or financial products to help people with lower credit scores improve their financial health.

Most credit unions allow withdrawals online, via mobile app or sometimes even by card if you have an engage card.

Attached Shares are savings you build as you pay back your loan. Everyone who has a loan pays into attached shares as part of their repayments. They act as security for the loan and cannot be accessed while there is a loan balance.

Yes, credit unions offer loans with fair and affordable interest rates. Loan eligibility is based on your ability to repay, and terms are often more flexible than traditional lenders.

No, members can only have one loan at a time with Advance Credit Union. However, you may be able to top up on your current loan if you meet the criteria, Get in touch with us to check if you’re eligible.