About Us
First Choice Credit Union is a membership-based, voluntary run, not for profit, savings and loans co-operative. This means that to join a credit union and become a member you must either live or work with in our common bond area.
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Members deposit their savings which are called 'Shares' and can apply for low cost loans.
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Each member receives one vote at our AGM, so whether you have £85,000 or £5 in savings with us, you will have an equal say in how your credit union runs. Our AGM occurs annually, usually within 5 months of our September financial year end. At the AGM members vote to elect the Board of Directors who will govern the credit union for the following year. All fully paid up Members are eligible to stand for nomination to the Board. For further information on this please contact our office.
Tel us on 01706 215082 or email us at firstchoicecu@btconnect.com ​
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Credit Union Principles
Credit Union Ethos
As a Not for Profit Financial Co-Operative our services aim to incorporate the Credit Union Motto “Not for Profit, Not for Charity, but for Service” by
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Encouraging thrift
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Creating a source of credit at reasonable interest rates
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Educating members on the wise use of money
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Promoting the welfare of the Credit Union community
Credit Union Philosophy
The philosophy of the Credit Union Movement is grounded in the co-operative values of:
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Equality
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Mutual Self Help
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Equity
“People helping People” is at the cornerstone of this philosophy. By working together through co-operation, people can achieve far more together than individually on their own.
Credit Union Operating Principles
The Credit Union Movement has adopted a common set of Operating Principles based on our Ethos and Philosophy
Credit Union Operating Principles are:
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Open and Voluntary Membership
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Democratic Control
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Non-Discriminatory
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Distribution to Members
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Building Financial Stability
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Service to Members
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On-Going Education
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Co-operation Among Co-operatives
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Social responsibility
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