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Discovery Credit Union

The city council and Discovery Credit Union have joined forces to make it easier for savers to pay into their credit union accounts at cashier tills in Dundee House and in the East and West District Housing offices.

Discovery Credit Union is open to anyone living, working or studying in Dundee and is regulated by the Financial Services Authority. It currently has over 3,850 adult members in the city who enjoy the benefits of simple saving accounts low interest loans and free life insurance.

Discovery Credit Union Chairperson, Avril Phillips said: “Credit Unions are not for profit financial co-operatives that are owned by members for members and in the case of the Discovery Credit Union, any profit goes back into the service.

“We cater for a wide range of people who are both in work and out of work. We help people work out their budget to ensure that if they take out a loan they know they can repay it.”

Councillor Jimmy Black, Convener of Housing said: “As a member of the Discovery Credit Union, I can say first hand that it is a very valuable way of saving and I would encourage others to think about membership.

“The city council fully supports the credit union movement as a way of increasing financial inclusion in Dundee and by introducing payment facilities at our main offices, it is now easier than ever to join up.

” The city council and the Discovery Credit Union also jointly promote the ‘Save by the Bell’ scheme in schools to encourage a saving habit from an early age. There are currently 2,323 member of the scheme."

Press Release Date: Wednesday 05 December 2012