| Description | A credit union is a non-profit making money/financial co-operative owned by its members. The services that credit unions can offer include borrowing at lower interest rates, saving at higher interest rates and other money/financial services such as debt and budgeting advice. One of their biggest successes is ensuring that people on low incomes have access to bank accounts and services with no need to go to unscrupulous money lenders. They are community based, not-for-profit financial co-operatives managed and run by volunteers. |
