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Credit unions

What is a Credit Union?

Credit unions are not-for-profit financial co-operatives dedicated to serving the needs of their members. When you join a credit union, you open a “share account”. It is called a share account because you become a member and part owner of that credit union.

All credit unions are governed by a Board of Directors. The Board of Directors is made up from its own members and elected by its membership.

Can anyone become a member?

Credit unions are made up of people with a common bond, something that draws them together - where they live, where they work, etc.

Anyone can join a credit union, but the credit union you chose has to be appropriate – if you live and work in Glasgow, you can’t join a Credit Union in Fife. Fortunately there are over 100 Credit Unions in Scotland, so it’s easy to find one that caters to the area you live in or the place you work.

Where can I find my nearest Credit Union?

There are five Credit Unions serving the Fife area, as well as others which people may have access to via their workplace or trade union:

  • Benarty & Lochgelly Credit Union        
  • Cardenden & Kinglassie Credit Union
  • Dunfermline & District Credit Union
  • Kingdom Credit Union (Covering all of Fife, including Payroll Deduction for Fife Council employees)
  • North East Fife Credit Union
  • Tay Valley Credit Union (Fife Council employees only)

For opening times and contact information, see the 'Find your nearest Credit Union' page uusing the navigation on the left off this page.

How do Credit Unions differ from banks?

Credit unions are not-for-profit organisations. Unlike banks which have shares on the stock market, each credit union’s shareholders are the customers who use them. Any money made above the cost of operations is returned to the members in the form of dividend at the end of the year.

What are the benefits of joining a Credit Union?

Credit unions can offer an easy way to save and access low cost loans.

You can save regularly with the comfort of free life loan insurance.

Your money is protected by the Financial Services Compensation Scheme.

If you join one of Fife’s Credit Unions, you know you’ll be dealing with a local organisation with Fife-based staff.

You can be confident that you’ll be looked after by a financially secure organisation that has its members’ interests at its core.

Where can I get more information?

To find out more about the Credit Unions in Fife you can call Fife's Credit Union Development Team on 0800 085 5803 or contact the Credit Union directly.

To learn more about the financial services Credit Unions provide to communities across the world, visit the World Council of Credit Unions at

For more information contact

Susan Dryburgh, Credit Union Development Officer 
Tel: 01592 758596 Fax: 01592 583527 Contact Susan Dryburgh online
By Post: Albany House Albany Gate Glenrothes Fife

Lyn Prestwood, Credit Union Development Assistant 
Tel: 01592 758596 Contact Lyn Prestwood online
By Post: Albany House Albany Gate Glenrothes Fife
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