Unit 5
about us
FAIRshare Credit Union - the non-profit making Community Bank for Shropshire people, offering low interest loans and easy access to safe and secure savings accounts.
FAIRshare Credit Union is a real Bank but with a big difference.
This is a non-profit making Community Bank offering regular, dividend earning savings accounts and low cost loans to anyone who lives or works in Shropshire. The regular savings made by FAIRshare members create a pool of money which is then used to provide low interest loans to members. Your savings are safe - FAIRshare is regulated like any other Bank - it just means that the profit that regular Banks keep for themselves is used to benefit the local community.
The difference doesn't stop there! You'll find:
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No Bank charges for the services provided
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No credit checks before you can open a savings account
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Previous CCJs, Insolvency or Bankruptcy won't prevent you from joining
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No penalties for early loan repayment
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Annual divident payments (interest) based on your savings and profits made during the year
and
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Interest is calculated only on the amount still owed - not what you initially borrowed
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Loan interest is from 1% to 2% per month (12.68% - 26.8% APR) depending on the amount borrowed
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You can withdraw from your account at any time - in person, by phone or by e-mail
And it costs just £5 to join as a member - this is a one-off payment to open your account and that's it!
Already liking the sound of this? Well there's much more on offer.
Saving is simple - however much or little you can afford, you agree to save a regular monthly amount and this can be by:
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Payroll deduction from your salary
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Standing order from your Bank account
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Direct payment in person at one of many convenient Fairshare branches
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Direct transfer from your Pension, Housing Allowance or other Benefit payment
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PayPoint Card (on request)
Junior savings accounts are also available - a great way to get your kids into the habit of saving regularly - and seeing the benefit when the annual dividend payment is made.
Withdrawing your money is just as simple - you can access your cash at any time - in person, by phone or by e-mail (Note - if you have an outstanding loan, some or all of your savings may be 'pledged' as security against the loan).
Low Cost Loans are just one of the major benefits offered by FAIRshare. Obviously, any loan offered will depend on your ability to repay but there are no arrangement fees and you'll get free life insurance at no extra cost. With low interest charges, no penalties for early settlement and no set loan amounts (as much or as little as you can afford to repay) and repayment made over a period to suit your circumstances, a FAIRshare loan is a great way to clear higher interest bearing existing debts and reduce your monthly outgoings.
FAIRshare Credit Union is operated and regulated just like any other Bank or Building Society, so your savings will be completely safe and covered by the Financial Services Compensation Scheme. The benefits are many - it's so easy to use - and you'll be part of the local community.
For more in depth information about FAIRshare Credit Union Community Bank and details of the other services offered, you can visit the website here
or call
Telford (01952) 427 820
or e-mail
info@fairshare.uk.com
With branches in Telford Town Centre, Dawley, Stirchley, Oakengates, Broseley, Donnington and Woodside - there's bound to be one that's convenient for you. Opening hours vary so please check for details on the website or by calling the number above.
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thebestof awards
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latest reviews
The whole team at Fairshare credit Union are very friendly and very efficient.
My recommendation goes to Fairshare Credit Union because they are all so very friendly and helpful.
Everyone is always so helpful and polite. You get good service with a smile.
Each time I have visited the Fairshare Credit Union in Telford Town Centre, it has been a pleasure. Everyone is so lovely and welcoming.
They are very helpful and understanding of customers needs. Also very informative on how the credit union works.
I can't fault anything about the service offered by Fairshare Credit Union. I would recommend them to other local people.
Always helpful and cheerful and a lifeline in an emergency. Much better than a bank - and cheaper too!
âI am very satisfied with Fairshareâs service because there is always someone you can talk to face to face.â
âOur son found Fairshare very helpful. Hence I joined and have found likewise.â
âA very friendly and approachable service with dedicated staffâ.
Richard said this about FAIRshare: âI am really glad you are my bank.â
Mr S said: âI wish I had known about this great service before.â
âI find this is an excellent way to save money that I need quick access to. The service is always excellent every time I phone or go into the branch.â
âI am very grateful for the existence of Fairshare. Both myself and my son have accounts and you have been tremendously helpful. Very friendly service, coulnât wish for better. Itâs a pleasure to deal with you â unlike some of the banks!â
âOut of all the banks I use the staff are always very friendly and smiling and the service is good.â
âI think the staff at Fairshare Telford are very very friendly and helpful at all times.â
âConvenient and easy way to save means small amounts can be built up without being noticed.â
âI have been extremely pleased with the service I have always received.â
âI have been a member since 1994 when the credit union first started and I was employed by Wrekin Council. I have continued as a member since leaving in 1998 and will continue to be one. Thatâs the best compliment I can give.â
Peter said this: âThe service I receive ticks all the boxes.â
âFairshare is very helpful in saving for a specific purpose and useful in helping people to save for deposits for private rented accommodation.â
âI like to âvillageâ bank approach linked to a professional but friendly service. I like having the safety net of accessible and flexible loans â Fairshare doesnât push you to borrow more than you need over a longer term than you want.â
âI have only recently joined Fairshare with the intention of taking out a small loan to help my family but since Iâve joined I have been very impressed by the services it offers me.â
âGreat staff and very prompt. Easy to complete forms. Fantastic all round service.â
I have had a bank account with FAIRshare and have got to know a number of people who work for the Credit Union. FAIRshare are totally professional and offer an invaluable service in times where money is increasingly in short supply.