How can a credit union help you?

Instead of confusing jargon, think comfy sofa and a cup of tea. A credit union is a friendly, straightforward financial provider with our members at the heart of what we do. That means what matters is you, not how much profit we make.

A credit union is there for you with flexible, approachable financial services, whether it's for personal loans and savings, or business loans and services.  Our only shareholders are our members, which means you - and your community - are in control.

A credit union believes in local community - the savings you put in act as the loan for someone else, so your money never leaves the community. Every penny is used to benefit you. That doesn’t mean less security though - you’re protected by the Financial Services Compensation Scheme (FSCS), so you know your money is safe.

Your East London Credit Union

Savings, loans and business services tailored to you.

We’re here for a more flexible alternative to your usual way of banking. But our members are in control - we exist solely for you.

We provide a secure place to save like you’re used to and, if you need a hop up the ladder for some home improvements, we offer flexible loans with sensible repayments. You’ll be covered by the Financial Services Compensation Scheme and we’ll look after you, never offering anything you can’t afford. And if we generate surplus, that money goes straight back to you and your savings. Last year, our adult members received 1% whilst our junior savers received 3%. Sounds pretty inviting, doesn’t it?

How we protect your money

Just like your high street banks and building societies, the money you deposit into your credit union account, up to £85,000, is protected under the Financial Services Compensation Scheme (FSCS). If you have a joint account you will be protected for £85,000 each.

FSCS protection is free to customers, so if anything happens to your bank, building society or credit union, and you cannot access your money, the FSCS will refund you up to the amount of £85,000.

For more information on how we protect your money please click here.