Building societies are customer-owned financial institutions based across the UK in local communities. They help people to save to become more financiallly resilient and achieve their dreams, and lend, so their customers can buy their own home.
But there's so much more to them than that.
Credit unions, also customer-owned, are savings and loan cooperatives based across the UK. Their members have a common bond. This typically means they are either based in their local community or their members work in the same sector, e.g. the police.
Credit unions promote regular saving, offer modest personal loans and several BSA member credit unions also provide mortgages. Their members are at the heart of their business.
This leaflet aims to clear up some of the frequently asked questions the BSA receives, and provide an overview of the sector. If you have any further questions, please do contact us.
Download the leaflet.
Tel : 0207 520 5904