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Cumbria Credit Unions
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What is a credit union?

Credit unions provide secure savings and affordable loans.

Credit unions can help you 'save and borrow' at a rate that is guaranteed to make you smile

Credit unions are not-for-profit organisations which operate as financial co-operatives and offer services such as saving accounts and affordable loans to their members. 

In a credit union, members pool their savings to lend to one another and may also help to run the credit union. The small amount of interest raised by loans pays for the running of the credit union  and any surplus may be paid out as a dividend to members who have savings.

Because credit unions are not-for-profit, this often means that they are under-publicised, unlike many of the high interest 'payday' lenders who spend huge amounts on national TV and radio advertising. Your local credit union offers a real and affordable alternative. 

All credit unions are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority