About Us
A bank for people. Not profit.
We are proud to be part of the worldwide credit union movement where people join forces to provide fairer financial services in their communities and workplaces.
A not-for-profit financial cooperative, we are owned and controlled by our members - people who live, work, volunteer or study in a WV or DY postcode area.
Members’ savings are used to fund loans to other members at fair and reasonable interest rates. The interest paid back from loans is used to fund a return on members’ savings.
We don’t have shareholders taking a slice of the profits. Instead, everything we do benefits our members and the wider community.
Dividend
As shareholders, our members earn an annual dividend paid on their savings when we are successful.
Please Note:
Our declared annual dividend for financial year 2022/23 is 0.25% for WCCU members.
Our Mission
Our mission is simple. It's "to give our members a brighter financial future by providing ethical, honest and fair financial cooperative services".
Our Vision
By being your local financial cooperative, our members are helping us to achieve our vision which is to "stimulate our local economy by strengthening and financially empowering our community".
Our Values
We care deeply about how we do business and how we treat people. So, whether you are borrowing, saving or using our services, you can expect us to be:
- Ethical
- Honest
- Friendly
- Fair
A safe place for your money
Your money is safe with us.
We are authorised by the Prudential Regulation Authority and authorised and regulated by the Prudential Regulation Authority and the Financial Conduct Authority who regulate all the banks and building societies. We’re also a member of the Financial Services Compensation Scheme (FSCS) which pays compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. We also hold a Consumer Credit Licence that is registered with the Financial Conduct Authority.
Being ethical drives everything we do which is why we choose to bank with The Co-operative Bank, Triodos Bank and Nationwide.
How we are run
We are owned by our members who all have an equal say in how we are run. You make your voice heard by electing our Board of Directors at our Annual General Meeting.
The Board decides the direction of the credit union, approves business plans and challenges and supports the credit union’s CEO and management team.
You can read more about the Board of Directors here.
Given the size of the Credit Union, we employ a small team of paid professionals headed by a manager who oversees the day to day running of the business and reports to the Board.
Read our latest Annual Report:
