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Credit Unions

What is a Credit Union?

Credit unions are not-for-profit financial co-operatives dedicated to serving the needs of their members. When you join a credit union, you open a “share account”. It is called a share account because you become a member and part owner of that credit union.

All credit unions are governed by a Board of Directors. The Board of Directors is made up from its own members and elected by its membership.

Can anyone become a member?

Credit unions are made up of people with a common bond, something that draws them together - where they live, where they work, etc.

Anyone can join a credit union, but the credit union you chose has to be appropriate – if you live and work in Glasgow, you can’t join a Credit Union in Fife. Fortunately there are over 100 Credit Unions in Scotland, so it’s easy to find one that caters to the area you live in or the place you work.

Where can I find my nearest Credit Union?

There are five Credit Unions serving the Fife area, and one that's specifically for Fife Council employees. You can see the contact details and opening times of each one below.

You might also be able to join other Credit Unions in outside of Fife through your workplace or trade union.

Each Credit Union offers a slightly different range of services and most charge a small administrative fee. For more information or advice you can call Fife's Credit Union Development Team on 0800 085 5803.

Please click on the name of a Credit Union below to reveal contact information and opening times.


Benarty & Lochgelly Credit Union

Benarty & Lochgelly Credit Union Limited is a self help saving and loans co-opertive set up for the mutual benefit of its members. It encourage members to save regularly and provide loans to members at very low rates of interest.

Membership is open to all residents of Benarty and Lochgelly.

 


11 Benarty Square
Ballingry
Lochgelly, KY5 8NR
Tel: 01592 868800

email benartyc.u@btconnect.com

Opening times:
Monday 9 am - 1.45pm
Tuesday  9.15am - 11.45am
Wednesday  10.30am - 2.45pm
Thursday  6.30pm - 8.30pm
Friday  4 pm - 6.30pm

 

Also in Lochgelly Centre, Lochgelly

 

Monday  9am - 11am
 

Cardenden & Kinglassie Credit Union Ltd (for anyone living in the KY5 postal code)

Cardenden & Kinglassie Credit Union Limited is available for anyone living in the KY5 postal code.

Cardenden and Kinglassie Credit Union Limited is a self-help saving and loans co-opertive set up for the mutual benefit of its members. It encourage members to save regularly and provide loans to members at very low rates of interest.

 

Dundonald Institute
18 Main Street
Dundonald, KY5 0BJ
Tel: 01592 722937

Opening times:

Wednesday  6pm – 7pm       

Dunfermline & District Credit Union

Dunfermline and District Credit Union Limited (DDCU) is a self-help saving and loans co-operative set up for the mutual benefit of its members. It also encourages members to save regularly and provides loans to members at very low rates of interest.

Membership is open to all residents of West Fife, excluding Kincardine, Benarty and Lochgelly, by self referral.

They operate from 5 different offices in Fife on different days. Opening times of each location are shown below.

For more information contact 01383 420879 (Tuesdays and Fridays, 9.30 am - 12.30 pm) or visit their webpage at www.fifedirect.org.uk/community/ddcu.


 

DDCU
Gillespie Centre
Chapel St
Dunfermline, KY12 7AW
 
** Currently looking for new premises**

Opening times:

Monday  10.00am - 1.00pm

Wednesday  10.00am - 1.00pm

Friday  10.00am - 1.00pm

 

 

Rosyth Co-op Store

Castlandhill Road

Rosyth, KY11 2PZ

01383 420879

 

Opening times:

Tuesday  9.30am - 12.30pm

Friday  9.30am - 12.30pm
 

Cowdenbeath Local Office

**No premises at present. Watch this space**

For information about your nearest credit union, contact 01383 420879 (Tuesdays and Fridays, 9.30 am - 12.30 pm).

Opening times:

Tuesday  10.00am - 12.00pm

Abbeyview Local Office

Abbeyview, KY12 4HA

 

Opening times:

Alternate Thursdays from 26/5/2016 

10am - 12.00noon

Kelty Local Office

Main Street

Kelty, KY4 0AA

**moving to the new community centre from end January 2016**

Opening times:

Tuesday  9.15am - 11.45am

Thursday  9.15am - 11.45am


St Margaret's Church Hall

Touch Church

Abel Place, Dunfermline KY11 4JJ 

Opening times:

Thursday 10.00am to 12.00noon

Kingdom Credit Union - branches across Fife (for anyone living/working in Fife)

Kingdom Credit Union is a self-help savings and loans co-operative set up for the mutual benefit of its members. It encourages members to save regularly and provides loans to members at very low rates of interest.

Membership is open to anyone living or working in Fife. Members can either be referred or can self refer.

They have branches in Glenrothes and Methilhill that are open 5 days a week.

 

Glenrothes branch

9 Albany Gate

Glenrothes, KY7 5NP

Tel: 01592 758596

 

Opening times:

Monday  10.00-13.00
Tuesday  10.00-13.00
Wednesday  10.00-13.00
Thursday  10.00-13.00
Friday  10.00-13.00

Methilhill branch

Main Street

Methilhill, KY8 2DP

Tel: 01592 714888

 

Opening times:

Monday  10.00-13.00
Tuesday  10.00-13.00
Wednesday  10.00-13.00 & 17.00-19:00
Thursday  10.00-13.00
Friday  10.00-14.00

For convenience, Kingdom Credit Union also regularly operates from other locations:

Location

Opening days & times:

Fife Migrants Forum, Kirk Wynd, Kirkcaldy

Monday  2.00pm - 4.00pm

Sandy Brae Centre, Kennoway

Monday  6.00pm to 7.00pm

St Ninians Church, Glenrothes

Monday  6.15pm to 6.45pm

Sailors Rest, Methil

Wednesday  10.00am to 11.00am

Town House, Kirkcaldy

Wednesday  1.00pm to 2.00pm

Civic Centre, Inverkeithing

Wednesday 2.00pm to 3.00pm

Burntisland Local Services Centre

Thursday  12.00pm to 1.00pm

Kirkcaldy Methodist Church, St Clair Street

Thursday  1.00pm to 2.00pm

North East Fife Credit Union

North East Fife Credit Union Limited is a self-help saving and loans co-opertive set up for the mutual benefit of its members. It encourage members to save regularly and provide loans to members at very low rates of interest.

Membership is open to all who live or work in North East Fife and can be accessed by self referral. For more information go to www.northeastfifecreditunion.org.uk

 



County Building

St Catherine Street

Cupar, KY15 5HS
Telephone: 01334 652441

Opening times:
Tuesday  10.00am - 12pm

Thursday 

5.30pm - 7.00pm

For convenience, North East Fife Credit Union also operates from other local buildings around North East Fife:

Location

Days & Opening times:

Wester Town Hall, Main Street, Anstruther

Monday  10.00am - 12pm

Guide Hall, High Street, Auchtermuchty

Tuesday  5.30pm - 7.00pm

The Church Hall, Manse Road, Springfield

Wednesday  4.30pm - 5.30pm

YMCA and YWCA Centre, Bonnygate, Cupar

Friday  10am - 11.30am

Tay Valley Credit Union (for Fife Council employees only)

Tay Valley Credit Union is a credit union for Fife Council employees.

Membership is open to all Fife Council employees who, together, provide a co-operative that is owned and controlled by its members, for the benefit of its members.

The credit union provides an easy way to save money through payroll deduction and provides a facility where members can apply for loans at very low rates of interest.

You can find out more information and join Tay Valley Credit Unionthrough their website at www.tayvalleycu.co.uk


1 City Square
Dundee
DD1 3BG
Tel: 01382 434103

Opening times:

Monday to Friday  9:00am – 5:00pm       


How do Credit Unions differ from banks?

Credit unions are not-for-profit organisations. Unlike banks which have shares on the stock market, each credit union’s shareholders are the customers who use them. Any money made above the cost of operations is returned to the members in the form of dividend at the end of the year.

What are the benefits of joining a Credit Union?

Credit unions can offer an easy way to save and access low cost loans.

You can save regularly with the comfort of free life loan insurance.

Your money is protected by the Financial Services Compensation Scheme.

If you join one of Fife’s Credit Unions, you know you’ll be dealing with a local organisation with Fife-based staff.

You can be confident that you’ll be looked after by a financially secure organisation that has its members’ interests at its core.

Where can I get more information?


To find out more about the Credit Unions in Fife you can call Fife's Credit Union Development Team on 0800 085 5803 or contact the Credit Union directly.

To learn more about the financial services Credit Unions provide to communities across the world, visit the World Council of Credit Unions at www.woccu.org.
 

 


Susan Dryburgh, Credit Union Development Officer 
Tel: 01592 758596 Fax: 01592 583527 Contact Susan Dryburgh online
By Post: Albany House Albany Gate Glenrothes Fife

Lyn Prestwood, Local Community Planning Support Officer 
Tel: 03451 55 55 55 + Ext 44 02 36 Contact Lyn Prestwood online
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