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What is a Credit Union?
Who can join a credit union and how?
Can the people running it be trusted with the money of others?
Is there an investment return on my savings?
How does a Credit Union trade? 
How are loans applied for?
How much can be borrowed?
Are those with previous poor credit records able apply for a loan?
Complaints - how are these dealt with? 
What makes credit unions work – the 5 “P”s
What’s in it for the owner-members?
What’s next?

Can the people running it be trusted with the money of others?

Yes! All the key people making the decisions, either paid or lay leaders who serve unpaid, must be educated for purpose and be ‘Approved Persons’ by the prevailing Financial Industry Regulators.

Saving deposits can be made in various ways that are cost effective, secure and confidential - standing orders, direct debits, cheque, crossed postal orders, bank transfers or deposits at Post Offices and convenience stores. Payroll deductions do not preserve the confidentiality of any transaction from an employer.

Those running the credit union are then relieved from collecting money in insecure premises and banking it, leaving them free to look after owner-members at service points.

For reasons of honesty and security, desirably cash should never be accepted or dispensed. Owner-members requiring cash from share withdrawals can have it placed on a credit union prepaid card.

All key people running the credit union are covered by a Fidelity Bond that reimburses monies lost due to dishonesty or any untoward loss. Having this Fidelity Bond is a legal requirement.


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