We’re part of the East London community, our services are here to help you
East London Credit Union offers local loans, savings and banking. In lots of ways, we work like a bank. We have a branch, we charge interest on our loans and we are covered by the Financial Services Compensation Scheme so your money is safe. Unlike a bank, we’re owned by our members. Every member has an equal say in how East London Credit Union is run.
At the end of the year, if our credit union does well, we’ll add some money to your savings. This is called dividend. How big your dividend is depends on how well we’ve done and how much you’ve saved at the end of our financial year. This year, our adult members received 1.25% dividend and junior members got 3% interest bearing of the money saved with us. That’s better than you can get from most high street banks.
Read about our Savings and Loans here. You can also read about our East London Credit Union Common Bond - these are the requirements needed in order to join us. To apply online to join us, click here.