Ten great reasons to join Salford Credit Union:
- We save together. Every member of Salford Credit Union is encouraged to get in the habit of regular saving.
- We lend that money back out. Members can borrow up to £7,500 (net of savings) at rates from 7.5% APR.
- Our loans are very competitive for many members- come to us rather than high cost lenders and keep more money in your pocket.
- We don’t charge early repayment fees. We don’t charge set-up costs.
- We can transfer funds direct to your bank account or to a credit union pre-paid debit card (with on-line balances, bill paying tool, cash back rewards and more!).
- We are not-for-profit: owned and run by our members with members’ interests at the heart of all we do. Every member counts, including those of modest means.
- We have no external shareholders so saving and borrowing with the Credit Union helps keep money in the local economy.
- Members from select employer partners can save and pay loans direct from salary.
- We promote education of members in the wise use of money.
- Together we can build wealth rather than debt. We help build a stronger community.
JOIN US TODAY! It takes about 5 minutes and make sure you have your National Insurance number and bank details to hand …Membership application
The Credit Union Difference
Credit unions are owned and controlled by their members and offer a real alternative in the community for safe savings and affordable loans. Save, borrow and plan for tomorrow
Your eligible deposits with Salford Credit Union Ltd are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.
Visit www.fscs.org.uk for more information
Credit unions are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We take our responsibilities to ensure that we comply with all current regulations including Money Laundering regulations very seriously.
We use professionally qualified external Auditors to carry out an annual audit. Our external Auditors, currently Lindley Adams Ltd, perform an annual inspection of the credit union’s business and report to the membership at the Annual General Meeting each year.
The credit union is directed by a board of local volunteer directors who have been approved by the Financial Conduct Authority. Directors are elected to the board by members at the Annual General Meeting and have strategic responsibility to ensure that the credit union is run well on behalf of members. The manager and other employees are responsible for running the credit union on a day to day basis.
DISCLOSURE: ABOUT OUR SERVICES
- What products do we offer?
We offer savings and loans.
- What will you have to pay us for our services?
We charge an initial £3.00 non-refundable membership fee when you first join the Credit Union. This covers the initial administration fees.
- Who regulates us?
Salford Credit Union Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority Our FSA registered number is 213304.
Our permitted business is: Deposit Taking.
You can check this on the FSA’s register by visiting the FSA’s website on www.fsa.gov.uk/register or by contacting the
FSA on 0845 606 1234
- What to do if you have a complaint
If you wish to register a complaint, please contact us:
In writing: Salford Credit Union Ltd, Brotherton House, 1 Loganberry Avenue Salford M6 5UX
By telephone: 0161 686 5880
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
- Are we covered by the Financial Services Compensation Scheme (FSCS)
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Deposit taking is covered for 100% of the first £85,000 of member’s savings.
Further information about the compensation scheme arrangements is available from the FSCS.
- Cancellation Rights
You may cancel your membership of the Credit Union within 14 days of receipt of confirmation of your membership. You must inform us of this in writing to the branch where you applied.
The £3.00 membership fee is non-refundable and covers initial administration fees.
Any funds you have paid into the Credit Union will be returned to you no later than 30 days after the date the funds were paid in.
You may cancel your loan agreement within 14 days of its receipt without penalty. You must inform us of this decision in writing to the branch where you applied and return the money paid to you within 30 days.
Terms of Lending
All approved loans are subject to Terms and Conditions. The current Terms are available to download here
Credit Reference and Fraud Prevention Agencies
We may make searches about you at credit reference agencies who will supply us with credit information as well as information from the Electoral Register. The agencies will record details of any search whether or not this application proceeds. We may use credit scoring methods to assist the application and to verify your identity. Credit searches and other information which is provided to us and/or the credit reference agencies about you and anyone with whom you are linked financially or other members of your household.
This information may also be used for debt tracing and the prevention of money laundering as well as the management of your account. In addition, we may ask you to provide physical forms of identification and/or we may telephone you to confirm you identity.
To prevent or detect fraud or to assist in verifying your identify we may make searches of group records and at fraud prevention agencies who will supply us with information. We may also pass information to financial and other organisation involved in fraud prevention to protect ourselves and our customers from theft and fraud. If you give us false or inaccurate information, details will be passed to fraud protection agencies.
This information may also be used for tracing and claims assessments and verifying identify. Information held about you by the credit reference agencies may already be linked to records relating to anyone with whom you have a financial relationship such as a joint account.
More information is available in our guide to how we use your personal data.
Join Salford Credit Union
You can join Salford Credit Union if you live or work in Salford or parts of North Manchester and Prestwich (post code areas M25, M8, M9 and M40).Become a member
Already a member?
You can login to view your balances, view a mini statement, amend personal details, request or print forms, send an online enquiry, apply for a loan or request a withdrawal.Login
Volunteer with us
Salford Credit Union is a co-operative, owned and controlled by its members (that’s you!). We are growing and are increasingly busy so help is always needed, and always welcome.Find out more