Development Fund

The development of credit unions is a key area for Unity and we have been actively promoting the setting up of credit unions for a number of years.

Unity took the innovative step of demonstrating its commitment to credit unions by launching a special deposit account - the Credit Union Development Fund - where credit unions can aid the growth of the movement whilst earning interest on their own funds.

The aim of the Fund is to assist both new and existing credit unions with their promotional and marketing costs.

How does it work?
Credit unions are encouraged to deposit surplus monies into a high interest bearing deposit account with Unity. This account requires 30 days notice of withdrawal and pays interest twice yearly.

In addition to the interest you earn, Unity will pay an amount equivalent to 0.25% of the total combined balances into a separate grant fund.

Credit Unions can then apply for a grant of up to £1000 to assist with their marketing and publicity costs.