Bulwell Credit Union by asafwewe


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									  Bulwell Credit Union
           Saving and Borrowing Together
                      People Not Profit

                                                                                               NOW OPEN
                                                                                              AT THE CO-OP
                                                                                             STORE BULWELL
                                                                                              TEL: 979 7770

Bestwood Bestwood Village q Bulwell q Carrington q Cinderhill

     Mapperley Park q Old Basford q Rise Park q Sherwood
                  Top Valley q Whitemoor

      Bulwell Credit Union Ltd is authorised and regulated by the Financial Services Authority (F.S.A FRN: 213938)
Bulwell Credit Union
           Saving and Borrowing Together

                                              q by cash or cheque at one of our many
What is Bulwell Credit Union?
                                                 collection points
s Bulwell Credit Union is a                   q by payroll deduction from your employer
    non-profit making financial               q by standing order from your bank
    co-operative.                                account

s We offer a convenient savings
                                              How do I get a loan?
    account and low interest loans
    to our members, people just               Anyone over 18 years who has been a
    like you!                                 member and saved regularly for 13
                                              weeks may apply for a low cost loan.
Can I join?                                   The interest charged on your loan is fixed
Anyone living or working in North             by law at a maximum of 1% per month
Nottingham (Bestwood, Bestwood                on the outstanding balance, working out
Village, Bulwell, Carrington, Cinderhill,     at 12.7% APR.
Mapperley Park, Old Basford, Rise Park,
                                              Who runs the Credit Union?
Sherwood, Top Valley and Whitemoor
areas) may apply to join.                     Members are elected to run the Credit
                                              Union. The Credit Union is registered in
How do I save my money?                       accordance with the Credit Unions Act
After paying a small membership fee to        1979 and the Industrial and Provident
join, you save regularly to accumulate a      Societies Act 1965-78. The Credit Union
sum of money with the Credit Union.           is required to be audited once a year and
                                              submit its accounts to its members and
You decide how much you want to save,
                                              the Financial Services Authority.
it can be as little or as much as you like.
For members’ convenience savings can
be made in a number of ways:
 What it would cost you to borrow?
 Based on an APR of 12.7% typical repayments are as follows:
 Loan Value                   Months                 Repayment per            Total Interest
                                                        month                   charged

 £100                          12                            £9                    £7
 £500                          12                           £44                   £33
 £1,000                        24                           £47                  £128
 £2,000                        24                           £94                  £256
 Bulwell Credit Union does not charge fees or transaction costs

 Will my money be safe?                                    Young Savers
 YES. All Credit Unions are regulated by                   Bulwell Credit Union has a number of
 the Financial Services Authority (FSA)                    young savers, most of whom save at
 just like the banks and building                          collection points within local schools. It
 societies. Member’s savings are fully                     has proved to be a valuable aid in
 protected under the FSA's                                 helping gain numeracy skills and
 compensation scheme. The Credit                           encouraging them into the savings habit.
 Union is also insured against fraud and                   In adult life, these foundations will make
 theft through our Fidelity Bond.                          them wise borrowers for the future.

 Is my business private in the                             Its an easy way for adults and
 Credit Union?                                             young people to save
 YES. All officers and volunteers must                     You can volunteer to help run your Credit
 sign and are bound by a declaration of                    Union, learn some new skills and make
 secrecy form.                                             new friends. Training is informal and fun.
                                                           Come along and find out more.
 Am I insured against untimely
 YES. Your loan would be paid off and
 your shares doubled at no extra cost
 (subject to eligibility). The money will be
 transferred to the person(s) nominated
 by you on your application form.

This leaflet is available in large print. If you require any help in completing
    the application forms please contact: 0115 979 7770 or 919 9220
Bulwell Credit Union
     Saving and Borrowing Together
              Why join the Bulwell Credit Union
      s     Bulwell Credit Union is well established with many members and
            plays an active part in the growing Credit Union movement in the UK

      s     We are local and approachable co-operative

      s     We offer free life insurance on your savings (subject to age)

      s     We offer low cost loans and no transaction charges

      s     We provide savings and loans facilities in the North Nottingham area,
            such as in community centres or at your place of work

      s     You will receive a dividend on your savings if the Credit Union has
            surplus funds at the end of the year

      s     It’s a chance to make new friends

      s     We offer free loan protection in case of untimely death (subject to age)

                                                 Bulwell Credit Union
                                                 Bulwell Co-op Store
                                                 36-48 Main Street Bulwell
                                                 Nottingham NG6 8EW

                                                 Tel:        0115 979 7770 or 919 9220
                                                 Fax:        0115 975 7237
                                                 Email: info@bulwellcreditunion.org.uk
                                                 Web: www.bulwellcreditunion.org.uk

 Bulwell Credit Union Ltd is authorised and regulated by the Financial Services Authority (FRN: 213938)
    Registered Office: Red Lion Community Centre 261 Coventry Road Bulwell Nottingham NG6 8LT

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