The Coastal Credit Union

What is a credit union?        
 “An easy way to save; an easy way to borrow.”

A Credit Union is a democratic, non-profit making financial co-operative.  It is owned and controlled by its’ members and every member no matter how much they save has an equal vote in the running of their credit union.  The Directors and Officers of the Credit Union are all voluntary and elected by the membership.

The aims of the Credit Union are to encourage savings, provide loans to members at low rates of interest (1% per month – equivalent to 12.68% APR.) and provide members with help and advice about money management.

How does it work?

Members save regularly into a common fund, once this fund has built up, members will be eligible to apply for loans.  Interest received on loans is used to cover running costs and any surplus is repaid to members as a dividend on their savings.

The Caostal Credit Union is open to anyone who lives or works in Bournemouth, Poole or Christchurch.

What are the benefits?

• A convenient way to save – savings could be deducted by Standing order or at 2 local collection points.
• Low cost loans – cheaper than most credit cards or banks for small loans.
• Free insurance – free life insurance potentially doubles your savings on death and        repays any outstanding loans.
• No fees – the Credit union will not charge any administration fees other than a one-off £1      membership fee.
• Local & Friendly – a credit union is run by its’ members for its’ members.

If you would like more information or want to join please:

Telephone:      01202 566878.
Write to:       The Coastal Credit Union, 531/533 Christchurch Road, Bournemouth, BH1 4AG.
website:  www.coastalcreditunion.co.uk

Registration No. 213791. Affiliated to the Association of British Credit Unions Ltd.

Created: 2004-12-03 15:44:07
Modified: 2009-05-14 11:34:39