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Frequently
Asked Questions (FAQ's)
What is a Credit
Union?
We are a savings and loans co-operative. We
aim to help our members save up money, but we
also provide loans at affordable rates. After
we have met our essential costs our profits are
redistributed to our membership through a dividend
payment. We are members of the
Are you like a bank?
As a co-operative all our members are shareholders
and so the benefits of successful growth
are more widely distributed than in most other
financial institutions. Whilst banks may invest in
the arms trade; we invest in the local community.
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Is
my money safe?
We are regulated and
authorised by the Financial
Services Authority
(FSA), just like
any other bank. Our staff and board of directors
are approved as 'authorised persons', which
means that they undergo a range of checks to
protect you and your shares in the business.
For more information, read
our
Frequently Asked Questions
information sheet (.pdf 55k)
You will need to download
Acrobat Reader to open this file. |
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About
us
Croydon Credit Union
is a savings and loans co-operative which is authorised
and regulated by the Financial Services Authority.
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Ethical
savings
Investing up to
£10,000 with the credit union can give
you a great social and financial return.
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Affordable
credit
A Credit Union
loan is as flexible as they come! The frequency
and amount of payment is decided on a case by
case basis.
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