Altogether Better Banking
We want to help everyone to build up savings, no matter how much or how little money they have. Just Credit Union helps members to save in a way that’s most convenient for them. Having savings helps us to plan for the future, budget for holidays and special occasions and ensure that it’s easier to deal with emergencies and unexpected events.
Just Credit Union members can save as little or as much as they can afford. Small regular amounts will soon add up and as a Just Credit Union member you are not just another customer but a co-owning member and shareholder in the organisation. As a benefit to members we also provide FREE life insurance to match savings up to £5,000 (conditions may apply).
Find out more about our Savings.
Borrowing from Just Credit Union is easy. Our charges are fair and each application is looked at on its own merits. There are no hidden charges and no early repayment fees.
Members can apply to borrow any amount from £300 to £15,000 (subject to status) from only 5% APR (representative). We also provide FREE loan protection insurance to pay off the loan in the event of your death. Repayments can be made on a weekly, fortnightly, monthly or four weekly basis for up to 5 years.
By law as a Credit Union, Just will never charge more than 3% per month interest on the reducing balance (42.6% APR) and because you can also continue to save as you repay your loan when you’ve finished paying it off your savings will have grown too.
Find out more about our Loans.
Just Credit Union is a not-for-profit community bank owned by its members and managed for their mutual benefit. We provide a safe home for savings with access to affordable low cost loans. Membership is open to anyone who lives or works in Shropshire or Telford & Wrekin.
Members’ savings and loans are both covered by our unique FREE life insurance (terms and conditions may apply) at no additional cost and all savings are protected by the Financial Services Compensation Scheme.
Being a member also means you are a shareholder in the company and due a dividend from the profits made at the end of each year. Although this annual dividend cannot be guaranteed we have paid our members a dividend (interest) on their savings every year since we started.
In addition to our main branch in Shrewsbury we also operate community branches locally at a variety of other locations across the county including Dawley, Craven Arms, Ludlow, Market Drayton, Oswestry, Telford Town Centre and Wellington. Find out more about how to get in touch through our contact us page.
Just Credit Union was registered with the Registry of Friendly Societies in August 2001 to provide a safe, friendly and ethical local, professional financial service. The registration of the Credit Union in Shropshire was ground breaking, covering a large geographical area. Later the common bond was extended to also include Telford & Wrekin enabling everyone who lives or works in the county to join.
We have continued to go from strength to strength, achieving significant year-on-year growth and lending a total of over £11 million to our members. Most Just members spend the money they’ve borrowed locally which helps the local economy, local services and local businesses.
When other Credit Unions have struggled to pay an annual dividend Just has paid its members 2% or more every year since it was founded in 2001 - with the exception of two when we paid 1% and 1.25%.
We also continue to review the financial products we offer to ensure we provide our members with the services they need to make their lives easier.
Despite the decision by other Credit Unions to remove benefits to cut costs, Just continues to include the same FREE life insurance on savings and loans to give our members additional peace of mind.
In 2017 we were awarded The Fairbanking Foundation's highest 5 star rating for our Community Loan and Member Loan products. We were also recognised by Social Enterprise UK as a 2017 national finalist in the ‘Transformative Community Business’ category.
However we are only too aware that it would not have been possible for Just to grow and thrive without the ongoing support of our members, partner organisations and agencies for which we are extremely grateful.
A Credit Union is a financial co-operative that provides a saving and low cost loans service to its members. It is democratically owned and controlled by the members who have the right to attend, speak and vote at the Credit Union's Annual General Meeting. They elect Directors onto the Board of Management and vote on other matters brought before them.
Credit Unions offer members from all walks of life a safe and convenient way to save with access to affordable credit.
Credit Unions are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. All Credit Unions are required by law to carry full insurance at all times and their activities are monitored by internal supervision, external Auditors and the Financial Conduct Authority. All officers have to be fidelity bonded: this insurance covers the members in the event of an internal fraud or embezzlement. Credit Union members’ savings are protected by the Financial Services Compensation Scheme (FSCS) in the same way as Banks and Building Societies.
Mutual and ethical savings
Credit Unions offer a range of savings accounts. You can choose to save as little or as much as you can afford as and when you choose.
Credit Unions offer loan products suited to your individual needs and at rates you can easily afford. By law credit Unions cannot charge more than 3% a month interest on the reducing balance (an APR of 42.6%).
Run by you, for you
As a Credit Union member you are in control of your own finances and have a say in how your financial service provider is run.
Putting you first
Credit Unions serve you 'the member' by listening and developing the products and services that members want.
Today there are 57,000 Credit Unions in 105 countries around the world, enabling 217 million members to access affordable financial services.
In Ireland, 70% of the population belong to a Credit Union. In America and Canada the figure is around 45%. Credit Unions are also growing fast in Eastern Europe, parts of South America, Africa and the Far East.