Bringing affordable financial services to you.

Tees Credit Union provides convenient and easy access to basic financial services like savings accounts and loans.

Membership

Anyone living or working in Stockton- on- Tees can join Tees Credit Union. Each member makes regular payments into their Savings Account – this fund then provides the basis for preferential loan rates. The income generated by lending is reinvested back into the Credit Union and helps us to meet our operating expenses, build our reserves and pay our savers an annual dividend.

How to join Tees Credit Union

You can join Tees Credit Union by visiting any of our collection points. The application form is short and simple. There is a £1 annual fee per adult (those over 18) and it is free for children and young people. We require two proofs of identity when you join Tees Credit Union (for example a passport, drivers license, bill). All members details are treated in the strictest of confidence.

Savings

No- one knows when they might need a pot of money to dip into. You will be surprised how much putting a little aside once a week or month can soon add up.

Members can save as little or as much as they want (up to the legal limit of £10,000). Savings can be made at our collection points, by Standing Order or Payroll Deduction (if your employer has signed up to the Payroll Deduction Scheme).

As a Financial Services Authority (FSA) regulated organisation, all savings are covered by the FSA Compensation Scheme – a guarantee of safety for your money.

Pay your bills through Tees Credit Union

Some companies charge you for not paying bills by Standing Order or Direct Debit, or even refuse you credit altogether. You can pay your bills through Tees Credit Union direct from your savings account or open a Bill Paying Budget Account.

A Bill Paying Budget Account is an extra account Tees Credit Union offers to members to help them to budget ahead and spread the cost of monthly, quarterly or yearly bills across the whole year.

Loans

A Loan can be requested by a member for any purpose: weddings, holidays, home improvements, cars, festivities, clearing existing debts or credit card bills etc.

Although some lenders may advertise a lower APR, our interest is charged monthly on a reducing balance basis so you could actually end up paying back less over the term of the loan!

Instant Loan

Members may be eligible to apply for a small Instant Loan with an APR of 26.8%, that’s 2% per month on the reducing balance of the Loan.

Loyalty Loans

Members who have established a regular savings pattern of 13 weeks can apply for a Loan based on their savings balance. The APR is just 12.7%, that’s 1% per month on the reducing balance of the Loan.

Collection Points

Please click here to view the collection points for the Tees Credit Union

For more information please contact:

Tees Credit Union
(01642) 753517
Creditunion-tees@hotmail.co.uk