NHS Credit Union

NHS Credit Union
Founded 2009 (1998)
Type Industrial and Provident Society
Location
  • 9 Dava Street, Pavilion 3B, Moorpark Court, Glasgow G51 2JA
Website nhscreditunion.com

NHS (Scotland and North England) Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Glasgow and operating throughout Scotland and the north of England. It has 9,100 members[1] and manages over £12m in savings.[2]

History

The credit union was formed as Glasgow NHS Employees Credit Union in 1998, on the initiative of the UNISON Southern General Hospital Branch Secretary, with the support of the then Greater Glasgow Health Board. It became West of Scotland NHS Employees Credit Union in 2003, before adopting the present name in 2009.[3] NHS Credit Union is a registered trading name of NHS (Scotland and North England) Credit Union.[4]

Activities

Membership of NHS Credit Union is currently restricted by common bond to NHS employees in Scotland and the North of England (North East, North West and Yorkshire & Humberside regions) and their families living at the same address.[5]

A member of the Association of British Credit Unions Limited,[6] registered under the Industrial and Provident Societies Acts, NHS Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and PRA. Ultimately, like the banks and building societies, members’ savings are protected against business failure by the Financial Services Compensation Scheme.[7]

See also

References

  1. ↑ Nicoll, Vivienne Credit union for NHS staff lends £1.1m in 2 months Glasgow Evening Times, 6 June 2013
  2. ↑ Thousands joining credit unions The Scottish Government, Newsroom, 9 February 2014
  3. ↑ Jones, Rupert MPs to debate creating credit union for NHS staff The Guardian, 19 November 2014
  4. ↑ About us NHS Credit Union (retrieved 25 February 2015)
  5. ↑ Join us NHS Credit Union (retrieved 24 October 2015)
  6. ↑ Credit unions in membership of ABCUL Association of British Credit Unions (retrieved 1 November 2014)
  7. ↑ Credit Union Guide Financial Services Compensation Scheme (retrieved 2 April 2015)
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