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Do I receive interest on my savings?
Your savings buy shares in the Credit Union. Once running costs have been met, the remaining surplus is paid to members in the form of a dividend. The dividend fund is paid out in accordance with the number of your shares and the time you have held them, just like a loyalty bonus. By law, the maximum bonus paid is 8% gross per year.

How do I join Reading’s Credit Union?
If you live or work in the Greater Reading area, ask us for a simple application form. 
When you have completed the application form you will also need to provide proof of identity and residence and invest a minimum of £1 into your savings account. 

Who runs a Credit Union?
The members do through election onto committees. The elected members become officers of the Credit Union and are educated and trained in the tasks that they have to perform.

What is the purpose of a Credit Union?
The members of the Credit Union save together in low risk funds set by law and lend each other money for useful purposes.

What is Reading Credit Union?
Put simply, Reading Credit Union is a community cooperative bank.
It is a cooperative – run by the members for the members – no external shareholders.
It is for the community – you must live and/or work in the Greater Reading are to be a member.
It is a bank – available for secure savings and low-cost loans. 

Like all credit Unions, Reading Credit Union is a financial co-operative owned and run by its members in accordance with strict laws and regulated by the Financial Services Authority (FSA).