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CREDIT UNION PRINCIPLES
not for profit
not for charity
but for service
in every Credit Union
ownership is CO-OPERATIVE
control is DEMOCRATIC
focus is MUTUAL
people helping people
A Credit Union is a group of people who join together to save money and then
loan it out to each other at a small cost. This is called a "common bond"
– the common bond can be a group of mums, work mates, union members,
council estates, whole towns, or in our case the whole of Penwith!
The whole ethos behind Credit Unions is really a local group of people helping
each other. By doing this it also strengthens the local economy as people
can buy extras or use local firms and this in turn builds more jobs as its
presence affects the whole area. Unlike a conventional bank a Credit Union
is run by the people who use it – “a true shareholder democracy”
in action!
It is a conventional and safe way to put some money away for the future and
young savers are getting into the habit of saving for the future.
You are protected by life and loan insurance for free and no-one takes on
your debt after bereavement and the amount in shares is doubled and passed
on to the family
We'd like to thank our sponsors:
All our brilliant volunteers, without whom
we would not be here.
and:
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