North Midlands Credit Union Limited

North Midlands Credit Union Limited is a member-owned financial co‑operative in the United Kingdom serving people who live, work, study, or volunteer within its defined common bond across the North Midlands. It provides core credit union services, notably savings (share) accounts and unsecured personal loans, with product availability, pricing, and limits set by its rules and underwriting policies. Savings are held as shares and may earn a dividend declared at year end; dividends are not guaranteed and can vary with financial performance, and some accounts may instead pay interest as stated in the product terms. Eligible deposits are covered by the Financial Services Compensation Scheme up to £85,000 per person per institution. Loan rates are quoted as APR and interest is charged on a reducing balance; affordability and credit checks apply, missed payments can incur charges and affect credit files, and shares pledged as security cannot be withdrawn while a loan is outstanding. Joining requires proof of identity and address, and service access (branch, phone, online) and opening hours are set out by the provider; payroll deduction for savings and loan repayments may be available where an employer partnership exists. The credit union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and complaints unresolved directly can be escalated to the Financial Ombudsman Service. Members elect the board on a one‑member‑one‑vote basis, and annual reports and accounts are published via official registers and the credit union’s communications. Prospective members should review the current common bond, product terms, fees and charges, and service availability on the official website before applying.