What is a credit union?

This is a question we get asked quite a lot, so hopefully this blog post will explain things a little better for you. A credit union is a financial institution similar to a bank or building society except it is owned and operated by its members. Members have a say in how the credit union operates and contribute to all aspects of decision making through the board members. We care about you and our community as a whole; credit unions are for the people. The main difference between a bank and credit union is that banks have shareholders; banks focus on making money for their shareholders. Credit unions are not for profit and are run by members, so any decisions that are made have the members at the centre of the decision.

Why the credit union is for you…

Our Credit union is open to everyone who lives, works and studies in Renfrewshire, we offer many products and services to our members. We are there for you through all occasions whether it be a family holiday, new car, wedding, home improvements and even unexpected bills. There is something here for everyone at Renfrewshire Wide Credit Union. Looking to carry out home improvements we can give you a loan of up to £10,000 with an APR of just 6.7%, can you get that from the bank? We didn’t think so…

Our aim at the credit union is to –

  • Encourage members to save regularly
  • To provide low cost loans to members
  • To encourage careful money management among members
  • To develop a sense of co – operation and community

We also offer loans that are ethical alternatives to payday lenders, we offer fast cash and salary stretcher loans for times of need as we know life doesn’t always run smoothly.

Other products and services we offer at Renfrewshire Wide Credit Union –

  • Savings
  • Loan Products – Fast Cash/ Salary Stretcher/ Diamond Deal
  • Foreign currency exchange (We promise to beat or match any other high street offers so our members receive the best rate.)
  • Payroll deduction
  • Junior savers/cash cubs/ Isave


Renfrewshire Wide Credit Union has 10 fantastic members of staff who constantly strive to deliver the very best service to our members. Each member of staff has a specific role in the day to day running of the Credit Union. We also have an amazing group of volunteers that give up their time to come in and be part of the credit union, we must be pretty cool to work for as one of our volunteers has been here for ten years. Volunteering can also lead to employment opportunities as many of our full time staff members were volunteers before they were offered paid employment.

As well as being situated on the Paisley high street we are very much in touch with all the cyber bots out there. We have recently refurbished the website in order to make it more accessible to new and existing members this can be accessed on all electronic devices. This means that on the move you can sign up online, apply for a loan and you can even take a selfie outside our building if you want and post it on our Facebook!

To join and become a member of Renfrewshire Wide Credit Union all you need is to live, work or study in Renfrewshire. You can join online through our website or you can come in and visit us at –

41 High Street



We hope to meet you soon and have a chat with you about how we can help you and your situation whatever that may be.