Credit Unions do not make a profit out of their business but you may have to become a member of the Credit Union to save with them. People who save with Credit Unions can borrow from them too, sometimes at lower rates of interest than banks or building societies. Find out more about Credit Unions from:
There are some Credit Unions in Brent:
Banks and Building Societies
Banks make a profit out of their business and pay some of the profit to shareholders. You don’t need to become a member of a bank to save with them. Building societies make a profit out of their business but don’t pay this profit to shareholders. When you start to save with a building society you become a member. Some building societies have now become banks.
There are many banks and building societies in Brent. If you know which bank or building society you want to save with type their name into your search engine and look for the words ‘Branch Finder’. If you don’t know which bank or building society you want to save with, try comparing different savings accounts to help you decide. Choose Starting to Save below.