HOPE (Plymouth) Credit Union Ltd

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HOPE Credit Union - at the heart of your community

For all the latest, see the News page including updates on our Merger

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Members Vote For Merger - Now confirmed by FCA

  • The merger has been confirmed by the Financial Conduct Authority (FCA) - we start to operate as a combined credit union on January 1!
  • At Special General Meetings held by HOPE Credit Union on November 4 and November 18 2015 at Welcome Hall in Devonport, Members voted overwhelmingly for a merger of the two credit unions.
  • At a Special General Meeting held by City of Plymouth Credit Union on November 19 at Welcome Hall in Devonport, Members confirmed the merger.
  • We are now seeking the agreement of the Financial Conduct Authority to begin operating as one credit union with a target commencement date of January 1 2016.
  • Many thanks to all Members that attended the meetings and provided us with the mandate to go forward to provide a new beginning for a combined credit union based on our combined values.
  • Keep an eye on this web page. We'll update it as we go forward to provide our members a better, more comprehensive service.
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What is HOPE Credit Union?

  • A locally based community organisation that offers a government guaranteed secure savings and loans facility in what is known as a Common Bond connecting members by employment or geographical area. In the case of HOPE, members either live or work in the Postal Districts of PL1 to PL21 in 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 £67.05 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 26.82%, 11 repayments of £47.50 per month and one of £44.55.)

Duchess of Cornwall

What do others say about credit unions?

  • The Guardian newspaper has an article supporting credit unions. See full article.
  • The Duchess of Cornwall is a credit union member and supporter. See full article.
  • Martin Lewis of moneyexpert.com  is a great supporter of credit unions.
  • The Church of England actively promotes credit unions, see full article and this message from the Archbishop of Canterbury.

Who can join as a member?

  • Anyone over 18 living or working in the area covered by the credit union. In the case of HOPE, this is anywhere within in the Postal Districts PL1 to PL21 in Devon.  We also have junior savings schemes for those under 18.

Is my money safe?



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Did You Know?

  • We're on Facebook and Twitter! Click on the links to see what's happening at HOPE. Have a look, follow us and like us! Let your friends know as well!

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Useful links

Prudential Regulation Authority

Financial Conduct Authority

Association of British Credit Unions

Step Change Debt Charity

Debt Advice Foundation
Debt Advice

Money Advice Service
Money Advice Service

Consumer Affairs
Consumer Affairs

Registered Office: 142 Union Street, Stonehouse, Plymouth PL1 3HL. Registered Number IP00561C
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FRN 213688
A Member of the Association of British Credit Unions Ltd (ABCUL)

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