The money the union holds in financial savings and present accounts is lent out to different members who must borrow cash at an reasonably priced fee. They are regulated by the Prudential Regulatory Authority and the Financial Conduct Authority. If you’ve extra money than the restrict, a few of your cash will be in danger in case your bank, constructing society or credit union fails. We provide extremely aggressive rates of interest on savings & loans and have lent over £60 million to GMB members. Unlike a financial institution, we’re a non-profit group financial savings & loans co-operative. Owned by members and run for the individuals of Liverpool City Region. You could possibly be paying an excessive amount of by borrowing using expensive bank cards or payday loans.
The cost also means you don’t pay charges for paying late or making an error. Otherwise, credit union financial institution accounts usually …
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- With our saving accounts there aren’t any account fees, no annual charge, no requirement to have standing orders popping out of your account month-to-month.
- To handle the chance of the spread of the virus, we ask that you simply use our online banking and card services if available to you.
- We provide aggressive rates on loans up to £2500 and are