SAVINGS & LOANS

Why YOU should join FAIRshare
FAIRshare is a non-profit making ‘community bank’ for savings and loans exclusively for anyone who lives or works in the Borough of Telford & Wrekin, Broseley and Much Wenlock. Junior Accounts are also available for children and can be opened on their behalf from birth.

As soon as an adult opens a FAIRshare account they become a member as well as a shareholder in the company. Regular savings create a ‘pool of money’ which is used to provide low cost loans to members - from as little as 1% per month (12.68% APR) which is significantly less than other lenders.

What else makes us different?
Unlike high street banks and building societies we DON’T carry out any credit checks before we will let you open an account. We DON’T allow any previous CCJs - bankruptcy or insolvency - to prevent you from joining. And we DON’T charge for any of the services we provide. All we DO ask is that you pay a one-off membership fee of £5 when you open your account and save a regular amount each month.

You can add to your savings at any time - by payroll deduction from your salary, standing order from your bank account, in person at any of our branches, by direct transfer from your pension, housing allowance or other benefit payments or by using your FAIRshare PayPoint card. You can also take out your money at any time - either in person at any of our branches, by phone or via email - whichever suits you.

Click to find out how to join.

IMPORTANT INFORMATION ABOUT COMPENSATION ARRANGEMENTS: We are covered by the Financial Services Compensation Scheme (FSCS).  The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the credit union, including their share of any joint account, and not to each separate account. For further information about the scheme (including the amounts covered and eligibility to claim) please call us on 01952 282528 or ask at your local branch, refer to the FSCS website or call 0800 678 1100.