A credit union is a member-owned, not-for-profit financial cooperative that offers affordable banking services, including savings and loans, with a focus on benefiting its members and the community.

Financial inclusion

Credit unions not only provide services to the community, but they support financial inclusion for people with low incomes, poor credit scores, or those receiving benefits. No matter what, they try to help their community and members as much as possible.

Advocates 

They advocate for social justice, working to address community problems and issues. They stand proudly as advocates for residents. Credit unions aren’t just financial institutions, but they’re also champions of social justice. 

Stronger community networks

Credit unions work alongside many other organisations, collaborating with local libraries, schools and councils, bringing unity and new opportunities for the benefit of the local people. 

Local economy 

When Credit unions take out loans or any savings made from the credit union, the funds are often reinvested into the local economy, keeping the money local. Building more resilience in the community. 

Emergencies 

Credit unions sometimes provide low-interest emergency loans or establish relief funds during crises (like during the COVID-19 pandemic), helping members and local communities through tough times. 

Join your Birmingham’s local Advance Credit Union today: https://advancecu.org.uk/become-a-member/