Welcome to the Sheffield Credit Union

Credit Unions are financial co-operatives.  They offer savings and great value loans plus they are local, ethical and know what their members want.

Members save regularly (minimum £1 per week). These savings then provide a pool of funds from which loans can be made. 

Any surplus income is returned to members as an annual dividend.

Members’ savings and loans are protected by life insurance at no extra cost.  Savings are also protected by the Financial Services Compensation Scheme (FSCS).

Important information about compensation arrangements

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £50,000. The £50,000 limit relates to the combined amount in all the eligible depositor’s accounts with the credit union.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website http://www.fscs.org.uk/ or call 0800 678 1100.

All credit unions are regulated and authorised by the Financial Services Authority.

For more information about credit unions click on the following link:

Association of British Credit Unions (ABCUL):

Financial Services Authority registration number: 213679