Norfolk Credit Union Welcome to the Norfolk Credit Union website
Easy saving and borrowing for those living or working in Norfolk
For the latest on the credit union developments visit the News Page
What is a Credit Union?
It is a financial co-operative that is owned and democratically controlled by its members and run solely for the benefit of its members. Members save with the credit union and then take out loans if they wish. Interest rates are very competitive for small loans. Some free insurance is provided for members, see the Insurance Section for details. See the Loans Section for the information and rules about taking out a loan. Savings do not attract a set interest rate but any profits made by the credit union are paid out to savers as an annual dividend.
How safe is my money?
The credit union is regulated by the Financial Services Authority the same as any bank of building society. Norfolk Credit Union is a member of the Association of British Credit Unions Ltd. and is bound by its rules. It is also a member of the Financial Services Compensation Scheme. For details go to the Information Section.
Who can join?
Anyone who lives or works in the administrative area of Norfolk and is over 16 years old is eligible to join. See the map if you are not sure of the area. For the map go to Membership Section. Membership costs £1 and applications must be approved by the credit union Board of Directors to comply with the Financial Services Authority regulations.
How can I join?
Go to the Membership Section for full details and an application form.
Who runs the Credit Union?
The credit union is managed by a Board of Directors elected by the members at the Annual General Meeting. Various aspects of the day-to-day running of the business is managed by committees and officers appointed at the annual general meeting or by the Board of Directors in accordance with the Rules. To see the current Board of Directors, committees and officers go to the Organisation Section. With a large rural geographic area to cover the Credit Union is setting up Community Groups to mange the day-to-day business in their local community. To check if there is a Community Group in your area on go to the Community Group Section.
How can I Volunteer to help run the Credit Union?
The volunteers are critical to the success of the credit union and new volunteers are always welcome. Free full training is given and out of pocket expenses are payable. For more details and our volunteers charter go to the Volunteering Section.
What if I have a Complaint?
We have a complaints policy and procedure which you can see in the Information Section
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