Start A Credit Union - Co-operatives London

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You are here: Home / Start a co-op / Start a Credit Union

There are already over 30 credit unions in London, but if you want to start a new one for your community, here are some resources to help you get started:

•  A step-by-step guide to setting up a Credit Union in your University (.pdf) This 20 page guide, created as a result of a project by SOAS Students’ Union to assess the feasibility of setting up a credit union for its student and staff, is the most up-to-date and in-depth guide to starting a credit union.
• Setting up for Success – Your guide to setting up a credit union (.pdf) This 4 page guide is the most recent (2011) published by the Association of British Credit Unions Limited (ABCUL)
• Setting up for Success – How To Create a Sustainable Credit Union (.pdf) This is a much longer 26 page guide was published by ABCUL in 1999, so it has more detail but parts of it are out of date.

You can register as a study group with ABCUL for a small annual fee. By registering your group you will be able to access information and support.  For more information email: [email protected] or tel: 0161 832 3694.

More

• What Credit Unions Need (.pdf) Credit unions offer responsible savings and loans to 1 millionpeople and have the potential to do much more. They need to grow in a sustainable way and offer the products and services to appeal to a broad range of people. As this 2 page from ABCUL nicely outlines, credit unions need the right legislative, governance, business and investmentenvironment in order to do this.
• Code of Governance for Credit Unions (.pdf) developed by ABCUL
• Community Finance for London: Scaling up the credit union and social finance sector (.pdf) a 2011 report published by the Research Unit for Financial Inclusion at Liverpool John Moores University.
• The 1989 book Credit Unions in the UK is also available to download via the Policy Studies Institute website.

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