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A Credit Union is a co-operative financial organisation that is owned and controlled by a group of members with a common affiliation (or bond) such as all working for the same employer or a particular group of employers or all living within a particular area. Members of a Credit Union collectively pool their savings and make loans to each other at low rates of interest. The Credit Union is a not for profit organisation. We offer a unique and flexible way of saving and borrowing and will strive to pay an annual dividend to our members if profits allow. This is paid at the same rate for all savers. Unlike banks, each member of the Credit Union has an equal say in the running of the Credit Union, regardless of how much they have saved. Credit Unions are dedicated to providing excellent member service as well as to ensuring the financial welfare of members, rather than to merely making a profit. As such, Credit Unions strive to provide a personal, fair and safe place for members to save and borrow.
Chesterfield and North East Derbyshire Credit Union
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UK Credit Unions, like banks and other financial institutions, are closely authorised and regulated by the Financial Services Authority (FSA). Key members of staff and elected volunteers involved in the running of the Credit Union must be approved by the FSA. The performance of each Credit Union is monitored on an ongoing basis with regular reviews and reporting required. Today, there are over 600 registered Credit Unions in the United Kingdom, which provide a valuable and unique service to over 300,000 members. Worldwide, Credit Unions operate in 91 countries around the world, serving over 136 million members. 
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