Welcome to Erewash Credit Union
Erewash Credit Union
Savings and ethical financial services for the people of Derbyshire
Erewash Credit Union promotes saving and provides small affordable loans for the whole community including people living in low income households or with a poor credit history.
We are a financial co-operative owned and controlled by our members. Membership is open to anyone living or working in Derbyshire and costs just £2. Erewash Credit Union is run by professional staff and volunteers if you would like to volunteer please ask for details at your nearest branch.
We have branches in:
Ilkeston Heanor Long Eaton Ripley Alfreton
Saving money with Erewash Credit Union
Will my money be safe?
Your savings will be totally safe as the Erewash Credit Union is registered by the Financial Services Authority and is a member of the Financial Services Compensation Scheme just like banks and building societies. The FSCS will cover your deposits with ECU up to £85,000 in total.
When you are a member of Erewash Credit Union you can open one or more of the following accounts which all attract a dividend (normally 2% per annum subject to profits).
General Saver Account
Christmas Saver Account
Holiday Savings Account
Junior Account for under 16s
“I can’t get to my local branch so I’ve set up a Standing Order. It gives me piece of mind to know that my money is safe.”
Phil aged 45 years
Cash ISA (Individual Saving Account)
The Credit Union offers a Cash ISA for members who have money to put aside. Interest rates are in line with mainstream banks and are tax free.
How can I pay into the Credit Union?
By cash or cheque
By standing order
By paying in one of your benefits
By deduction from your salary or wages (where available)
Third party cheque (these do take a few days to clear through the banks)
By Debit Card
You will be surprised how quickly your money builds up
Borrowing money from Erewash Credit Union
Fair loans for our community
Erewash Credit Union has been helping hundreds of people by providing affordable loans so that they can replace electrical goods, go on holiday, pay off debts, buy furniture, decorate their home or move house (conditions apply).
“I pay one of my benefits into my Credit Union Account,. That way I know I will repay my loan and then save a few pounds in a Christmas Saver. I draw the rest out as cash”
Sue aged 29 years
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