Voluntary Action Rotherham

Rotherham has three credit unions operating for the town's residents. They are LASER Credit Union, Rothersave Credit Union and Ryton Credit Union. Information on all three of these credit unions and Transave UK, the credit union available for transport employees with passenger transport organisations including FirstGroup, can be found below.

Credit unions are community savings and loans cooperatives, where members pool their savings to lend to one another and help to run the credit union. They aim to help you take control of your money by encouraging you to save what you can, and borrow only what you can afford to repay.  Credit unions have a particular understanding of the needs of people who want to borrow or save small amounts.

Credit unions are regulated and authorised by the the Financial Services Authority, and members’ savings are protected under the Financial Services Compensation Scheme.

They are mutual organisations and are run in a not-for-profit way.  This means they use their money to run their services and reward their members, not to pay outside shareholders.  They must set aside enough money each year to ensure they remain solvent.

The services offered by different credit unions may vary and you should check which credit union best suits your needs.