HOPE (Plymouth) Credit Union Ltd

Our name is changing

• Plymouth and District Credit Union will be changing the name it trades under back to HOPE (Plymouth) Credit Union Ltd. We're doing this as a result of feedback from our customers who say that the Plymouth and District name is too easily confused with the name of the other credit union in the city. It will take some time for us to complete the change, so please bear with us as we carry out the updates. And don't worry about which name you use, both will be accepted by us and our banking partners for the foreseeable future.

What is a Credit Union?

• A locally based community organisation that offers a secure savings and loans facility at convenient places in the Plymouth area of Devon, England.
• HOPE offers an opportunity to members to save and is a source for low cost loans. For instance, you could borrow £500 for 12 months and pay as little as £33.04 total interest¹. Compare this to doorstep lenders or payday lenders and see how much you could save! Try our Loan Calculator to get a quotation for your loan.
  
• It gives people in the community the chance to be part of their own financial co-operative.
• Your savings and loans have valuable Life Insurance, so if the worst happens, you’re covered. In fact, in most cases, your loan will be repaid, and your shares will be repaid with a bonus.

¹(Based on an APR of 12.68%, 11 repayments of £44.50 per month and one of £43.54.)

Who can join as a member?

• Anyone over 16 living or working in the area covered by the credit union. In the case of HOPE, this is anywhere within the City of Plymouth.  We also have junior savings schemes for those under 16.

Is my money safe?

• All credit unions are authorised by the Financial Services Authority (FSA).
• Your savings are guaranteed by the Financial Services Compensation Scheme which means that, if the credit union becomes insolvent, your savings are safe.

To find out more, please contact us

Do you have debt problems?

• Have you got problem with debts? Can't see how to sort out your money problems? Come and talk to us, we can help either directly or thorough our partners at the Consumer Credit Counselling Service. Or you could try an an online financial healthcheck from the the Money Advice Service. And its all free!