Leeds Credit Union

Leeds Credit Union: a member-owned financial cooperative in Leeds

Leeds Credit Union (Leeds City Credit Union Ltd) is a financial cooperative with 37,000 members that describes itself as not-for-profit and mutual. Because it has no shareholders, the organisation states that it is owned by its members. It presents its purpose as helping people — including those who may struggle for acceptance by traditional financial institutions — to access financial products and services in a commercially viable way.

The union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN 213369). It is a member of the Financial Services Compensation Scheme.

Who can join

Membership is open to people who live, work or study in Leeds, Wakefield, Harrogate or Barking & Dagenham. Residents of certain housing associations and employees of the union's designated 'Select' employers are also eligible. Applications can be started online, and the site includes a benefits calculator and a dedicated membership FAQ.

Loan range and borrowing options

The loan catalogue covers amounts from £250 to £25,000, subject to status and an affordability assessment. Named products include:

• Debt consolidation loans
• Family loans
• Car loans
• Funeral loans

An online loan calculator lets prospective borrowers estimate repayments; the example shown on the site uses a £1,500 loan over 12 months with an APR from 29.8%, producing weekly payments of £32.58 and monthly payments of £149.58. Applications can be saved and resumed later.

Savings accounts

On the savings side, the union lists a membership account alongside several dedicated products:

• Regular Saver
• Christmas Club
• Young Saver
• Loyalty Account
• Save through your pay, available via Select employers

Savings options are also extended to housing associations and their partners.

Everyday money services

Beyond loans and savings, Leeds Credit Union provides a bill paying account, a prepaid card (Cash Perks), a money and budgeting service, payroll services, and the OnePay and OnePerks services. It also offers online banking, a self-service payment portal, a branch finder and a mobile app for managing accounts.

Member feedback shown on the site

When this profile was written, the site displayed a member rating of 4.4 stars, stated that 95% of members would recommend the credit union to friends and family, and that 96% of customers were 'satisfied' or 'very satisfied' with its services. It also quoted individual member comments about savings, security and weekly loan repayments.

Deposit protection

The site states that eligible deposits are protected up to £120,000 per person by the Financial Services Compensation Scheme. A separate section notes that, for deposits with a UK office, payments under the scheme are limited to 100% of the first £85,000, and points to the FSCS website for the latest details.