Last updated 22nd April 2022

Credit unions

Credit unions are mutual membership organisations, members linked by something in common- usually a place of work or where they live and work (paid and unpaid).

What do they do?

Offer savings facilities for their members
Work for the benefit of members, not shareholders
Offer mainly small and affordable loans to members
May offer members a dividend (interest) on savings

Are they secure?

They are regulated as any other financial organisation

So what has that got to do with being fair and kind?

Credit Unions are mutual local organisations. They are an important part of the solution to Financial Exclusion in the Diocese. People who can’t access affordable credit or basic banking services can be excluded in many different ways.

Many people are finding saving money difficult (26% adults run out of money before the end of the month). Unexpected financial difficulty can arise from high interest or illegal loans but also events such as bereavement, divorce or redundancy.

Credit Unions can help people when they are in need. Individuals and organisations who become members and save money allow Credit Unions to make loans to members. Through making loans Credit Unions generate income (capped at 3% a month).

Maybe you feel some sense of injustice over recent history of investment banking or the practices of banks who are free to customers but charge the poorest who get overdrawn or miss a repayment deadline. Your parish could use a Credit Union instead of a Bank, you could join one yourself, or even consider volunteering to help.

‘We must help credit unions to become bigger, better known and easier to access if we want them to compete with high interest lenders.’ Archbishop Justin

**Credit Unions in Blackburn Diocese**
District	Credit Union	Address	Phone	Website
Blackpool	Blackpool Fylde and Wyre Credit Union	13 Birley Street Blackpool Lancashire FY1 1EG	01253 478827	CLEVR Money (blackpool.gov.uk)
Blackburn	Jubilee Tower Credit Union	5 Bolton Road Darwen, Lancashire BB3 1DF	01254 776611	Jubilee Tower Credit Union (jubileetowercu.co.uk)
Burnley	Pennine Community Credit Union	Calico Homes Ltd Centenary Court Croft Street Burnley Lancashire BB11 2ED	0800 050 9747	http://www.pccu.co.uk/
Chorley	Unify Credit Union	21 Crompton Street, Wigan WN1 1BN	01942 245656	http://www.unifycu.org/
Fylde	Blackpool Fylde and Wyre Credit Union	13 Birley Street Blackpool Lancashire FY1 1EG	01253 478827	http://www.bfwcu.co.uk/
Hyndburn	First Choice Credit Union	15 Greenfield Street Haslingden Rossendale Lancashire BB4 5TG	01706 215082	www.firstchoicecu.wix.com/fccu
Lancaster & Morecambe	Morecambe Bay Credit Union	75 Queen Street, Morecambe LA4 5EN	01524 411240	Savings (mbcu.co.uk)
Rossendale	First Choice Credit Union	15 Greenfield Street Haslingden Rossendale Lancashire BB4 5TG	01706 215082	www.firstchoicecu.wix.com/fccu
Ribble Valley	First Choice Credit Union	15 Greenfield Street Haslingden Rossendale Lancashire BB4 5TG	01706 215082	www.firstchoicecu.wix.com/fccu
Pendle	Pennine Community Credit Union	54 Manchester Road Nelson Lancashire BB9 7EJ	0800 050 9747	http://www.pccu.co.uk/
Preston	First Choice Credit Union	15 Greenfield Street Haslingden Rossendale Lancashire BB4 5TG	01706 215082	www.firstchoicecu.wix.com/fccu
South Ribble	Unify Credit Union	21 Crompton Street, Wigan WN1 1BN	01942 245656	http://www.unifycu.org/
West Lancashire	Unify Credit Union	21 Crompton Street, Wigan WN1 1BN	01942 245656	http://www.unifycu.org/
Wyre	Blackpool Fylde and Wyre Credit Union	13 Birley Street Blackpool Lancashire FY1 1EG	01253 478827	CLEVR Money (blackpool.gov.uk)

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Credit unions

Credit Unions in Blackburn Diocese

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