Your money. Your say.
The People's Credit Union is a new credit union for Birmingham, owned by its members. We plan to offer an everyday account with a debit card, savings and fair loans. No shareholders, no outside owners. Every member gets one vote.
£10 to join when we open. We're not taking any money yet.
Explore the branch in 3D →
Owned by the people who use it
A credit union is a not-for-profit co-op. Members save together, lend to each other at fair rates, and decide together how it's run.
£10 makes you an owner
It costs £10 to join. Your £10 membership share makes you a co-owner, not a customer.
One member, one vote
Your balance doesn't change your voice. Every member's vote counts the same.
Members elect the board
Directors are local people, chosen by members at the Annual General Meeting.
Surplus comes back to you
Profit is returned as savings dividends, fairer loan rates and lower fees. Nothing goes to outside investors.
Banking that answers to you
- Savings that pay membersAny surplus is shared out as a dividend on savings, voted on by members.
- An everyday account with a debit cardFor your wages, benefits and bills. No overdraft and no credit score needed.
- Fair, affordable loansA real alternative to payday lenders and high-cost credit.
- A local branchOur first branch will be in Birmingham city centre, with online and mobile access too.
- Respect for your moneyGetting your money out should be simple. Where the law needs a check, we'll explain why and keep it quick.
Once we're authorised, eligible savings will be protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person. That's the same protection you get at any high-street bank.
From an idea to a city centre branch
- Pending
Build the founding group
Recruit founding members, volunteers and a skilled board of directors.
Prove the demand
Gather membership pledges from people across Birmingham.
Apply for authorisation
Submit our business plan to the Prudential Regulation Authority and register with the FCA.
Open in the city centre
Our first branch opens, alongside online and mobile access.
Grow with our members
New branches open where members vote for them.
Help build Birmingham's credit union
We need founding members, volunteers, directors and local partners. Register your interest and we'll keep you updated as we get started.