Norfolk Credit Union

Information

Terms of Business

The key terms of business for the activities are shown below.

To Be Added

Financial Services Compensation Scheme

The credit union, along with all banks and building societies, belongs to this scheme, which provides safeguards for members savings. Under the scheme the first £35,000 of savings is 100% covered. As the maximum savings with a Credit Union is £10,000 then all your savings are covered.

Association Of British Credit Unions Ltd. (ABCUL)

This is the national body to which most British credit unions belong. It has standard rules, agreed by the Financial Services Authority, to which members comply. It represents member credit unions at national and international level and provides support to those credit unions.

For more details about ABCUL go to www.abcul.coop

What If I Have A Complaint?

We hope you will be able to resolve any problems with the officer or volunteer dealing with your complaint. If you are not satisfied with this you may contact our Complaints Officer via our head office. The Complaints Officer will deal with your complaint and report to the Board of Directors. We aim to acknowledge your complaint within 7 days and resolve your complaint within a maximum period of 8 weeks. Should you be dissatisfied with the final outcome your complaint can be referred to the Financial Ombudsman Service.

Further information is obtainable from:

Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London. E14 9SR

or via the web site www.financial-ombudsman.org.uk

Mission Statement

The mission of Norfolk Credit Union is to provide services which improve the economic and social well being of members as well as practising the values of equality, equity, mutual self-help, co-operation and democracy, while encouraging thrift and providing access to low cost credit and a fair return on members savings.

Aims

To develop habits of thrift and to combat usury through the accumulation of small savings and the provision of loans at reasonable rates of interest.
To develop appreciation of the principles of mutual help and the manner in which they can be applied for the solution of social and economic problems
To develop a financial co-operative, which is controlled in a democratic way.
To practice the values of equality, equity, mutual self-help, co-operation, and democracy in all its dealings with members and others