Advance Credit Union Ltd

General information

Advance Credit Union was founded in 1989 and has grown to be the largest Credit Union in North Birmingham. We serve the following areas: Erdington, Sutton Coldfield, Castle Vale, Kingstanding, Ward End, Solihull Borough including: Chelmsley Wood, Kingshurst, Meriden, Knowle, Shirley, Balsall Common.

Membership has continued to grow to more than 4000 adults and 400 juniors. We hold assets of £2.3 million and lend over £2m each year. We have head office premises in Erdington and community based Collection Points throughout our region. In April 2013 we changed our name to Advance Credit Union Ltd to better reflect the growth and outlook of the credit union.

Membership is open to people who live or work in North and East Birmingham and the whole of Solihull Borough. We encourage everyone to save regularly. Borrow from £300 to £8,000.

In addition to savings and loans, Advance Credit Union offers a variety of other services including bill payment/debt management accounts, pre-paid Visa debit Accounts, landlord account and free life and loan insurance.

Unlike a conventional bank, a Credit Union is run by the people who use it. The ownership is co-operative, the control is democratic and the focus is mutual.

Credit Unions offer a convenient and safe way to put some money away for the future and to escape the trap of high cost loans. The best way to save regularly is by Standing Order or straight from your wages. It is possible to save in person at the Credit Union Office or at one of our community Collection Points. Members are protected by life and loan insurance for free so no one has to take on your debt after bereavement.

Advance Credit Union is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered number 213228. We are members of the Financial Service Ombudsman Scheme, and members of the Association of British Credit Unions Ltd (ABCUL).