Shetland Islands Credit Union
Description
The Shetland Islands Credit Union is a business based in Shetland where people can save money and take out a loan. The Shetland Islands Credit Union is a group of people who save together. It is a community fund run by its members, a safe and secure way to save as well as a source of low cost loans. It is operated in accordance with the Financial Conduct Authority and Prudential Regulation Authority regulations. Adults and children can join and you don't need another bank account. It's services are available to anyone living or working in Shetland.
You have many options as to when and how much you want to save. You can:
Pay by Standing Order through your bank
Payroll deduction - a sum coming directly off your pay
In person at your local branch
Profits belong to the members and can be returned to them as a dividend pay out on their savings.
Children up to the age of 16 can join too and are encouraged to learn how easy and useful it is to have a savings account.
There is a £2 joining fee and a minimum £1 share requirement for adults but no fee for children under 16 years of age.
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