Falkirk District Credit Union Website Home Page
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Routing Number: 213807
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Falkirk District Credit Union Phone Number: 01324 473695
A Credit Union is a co-operative financial institution, owned and controlled by the members who use its services. Credit Unions are also not-for-profit and exist to provide a safe, convenient place for members to save money and to get loans and other financial services at reasonable rates.
In Credit Unions, the members are the owners. Benefits of ownership include better rates on deposits and loans and better service. Regardless of their size or field of membership, Credit Unions are different than for-profit financial institutions. Credit Unions exist to serve their members. Banks and other financial institutions exist to make money for their stockholders.
While for-profit institutions must make profits for their shareholders, in a Credit Union any earnings in excess of operational costs are returned to the members in the form of increased interest in savings, decreased rates on loans or other new and improved services.
There are over 600 registered Credit Unions in the UK with total assets of over £300 million serving various communities and employers. These include British Airways, Glasgow Taxi drivers, Nexus, Stagecoach, BAE Systems and many local authority employees. In the community Credit Unions are located in the major cities including Glasgow and Edinburgh and most cities and towns in the UK.
Regulated by the Financial Services Authority, members enjoy the same protection as they would expect from a bank or building society. Because they are managed and run by a volunteer board Credit Unions can offer attractive returns on savings and low rate loans.
Junior members require a sponsor to open their account. This can be a parent, grandparent, guardian etc who will operate the account until the Junior reaches the age of 16.
All Credit Unions are regulated by the Financial Services Authority (FSA) and are registered in accordance with the Credit Unions Act 1979 and the Industrial and Provident Societies Act 1965-78.
4 Station Rd, Grangemouth,
Stirlingshire FK3 8DG, United Kingdom