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07 Oct 2021

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27 May 2022

Summer Loan offer

About Us

Credit Union Mission Statement

"To promote the financial wellbeing of our community by offering ethical financial products and services at affordable rates that meet members' individual needs in a friendly and professional manner"

What is a Credit Union?

A Credit Union is a co-operative financial institution, owned and controlled by the members who use its services. Credit Unions are also not-for-profit and exist to provide a safe, convenient place for members to save money and to get loans and other financial services at reasonable rates.

In Credit Unions, the members are the owners. Benefits of ownership include better rates on deposits and loans and better service. Regardless of their size or field of membership, Credit Unions are different than for-profit financial institutions. Credit Unions exist to serve their members. Banks and other financial institutions exist to make money for their stockholders.

While for-profit institutions must make profits for their shareholders, in a Credit Union any earnings in excess of operational costs are returned to the members in the form of increased interest in savings, decreased rates on loans or other new and improved services.

About Credit Unions

Credit Unions are not new. They operate in 79 countries worldwide serving a membership in excess of 118million. Countries include America, Canada, Australia and Ireland.

There are over 600 registered Credit Unions in the UK with total assets of over £300 million serving various communitites and empolyers. These include British Airways, Glasgow Taxi drivers, Nexus, Stagecoach, BAE Systems and many local authority employees. In the community Credit Unions are located in the major cities including Glasgow and Edinburgh and most cities and towns in the UK.

Regulated by the Financial Services Authority, members enjoy the same protection as they would expect from a bank or building society. Because they are managed and run by a volunteer board Credit Unions can offer attractive returns on savings and low rate loans.

  • Junior members require a sponsor to open their account. This can be a parent, grandparent, guardian etc who will operate the account until the Junior reaches the age of 16. No membership fee applies to junior members.
  • Complete the required joining form at any of our offices
  • Provide a Birth Certificate or valid Passport for the Junior member and identification for yourself.
  • A deposit of £2.00 should be made to open the account.
  • Future payment can be made either by standing order through the sponsors account, deducted from the sponsors payroll or paid by cash or cheque at either of our offices.

Who controls the Credit Union?

The members elect a Board of Directors at the Annual General Meeting, so the members control the Credit Union.

Is the Credit Union regulated?

All Credit Unions are regulated by the Financial Services Authority (FSA) and are registered in accordance with the Credit Unions Act 1979 and the Industrial and Provident Societies Act 1965-78.

FSCS Policy Statement

Your eligible deposits with Falkirk District Credit Union are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.

Further information is available here or visit