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 2023/24 is 0% for WCCU members.
Our Vision
To be acknowledged as a trusted and sustainable credit union in the West Midlands, recognised for our strong collaborative values, sound ethical practices, and exceptional member service.
Our Mission
We are a provider of regional financial services, proudly owned and run by our members and offering a range of products that prioritise their needs, delivered in a way that is friendly, ethical, and professional.
Our Purpose
We help our diverse members to achieve long-term financial wellbeing, by accessing safe savings, responsible credit, and financial education.
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:
