About

the Kernow Credit Union

Credit Unions probably aren't the first place you think of when you're looking for a new savings account or personal loan. But perhaps it's time to think again. Credit unions offer their members cheap, flexible loans.

Kernow Credit Union is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 223115.

About Credit Unions

What Is A Credit Union?

A Credit Union is a financial organisation that encourages its members to borrow and save responsibly. We provide an alternative service to banks, building societies and high interest loan providers. We encourage you to save what you can and borrow only what you can afford to repay.

How Can You Benefit?

As a member of or Credit Union you can benefit from:

- Easy, convenient and secure ways to save
- Access to loans that you can afford to repay through flexible payment plans.
- Access to guidance and support to help you take control of your money.

Who Are They For?

Everyone! If you are unable to access ordinary bank loans, products and services we can help. We provide local financial solutions and can provide a real alternative to pay day loans or doorstep lending.

How Do They Work?

You make regular savings which are used to create a pot of funding which is used to lend to other members. Once you have been saving a set period of time you can apply for a loan which includes an interest charge. The interest charge helps to pay the Credit Unions running costs. Some Credit Unions are able to pay their members dividends or interest on savings.

If you borrowed £1,000 over one year, you'd be better off with a credit union than if you were with one of the most expensive banks or building societies.

How To Join

Kernow Credit Union Ltd is open to anyone living and / or working in Cornwall. To apply for membership please download and complete the membership application form.

Annual Accounts

Our annual accounts are publicly available. Our latest set of accounts can be downloaded by clicking the button below.

RULE BOOK

This is the Rule Book for Kernow Credit Union Limited, which has been approved by the Regulator.
Please note any reference to the Financial Services Authority the previous regulator should now be taken to refer to the Bank of England's dual regulators - the Prudential Regulation Authority and the Financial Conduct Authority.