Credit unions are non profit making co-operatives which offer ethical financial services like insurance, loans and savings accounts to local people. Credit union members must have a 'common bond', for example living or working in the local area, in order to join the co-operative.
Credit unions are owned and democratically controlled by their members, which means that their services and investments will always benefit the local community. All profits which credit unions make are either re-invested back into the co-operative or shared between the union members.
The Association of British Credit Unions (ABCUL) has over 400 credit union members in the UK. They regulate their member organisations to make sure they are run effectively and ethically. They also lobby the government to help bring about change in legislation to benefit credit unions. Visit their website for more information about credit unions and to use their online search to find your local credit union.