FAIRshare is a credit union and everyone who lives or works in Telford & Wrekin or Shropshire can be a member. We provide straightforward savings accounts and fair, manageable loans to our members. We are a local, ethical, ‘not-for-profit’ community bank or financial co-operative, own by and run for our members.
Everyone who lives or works in the Borough of Telford & Wrekin and Shropshire can join us.
Unlike high street banks and building societies, we do not carry out any credit checks before opening an account. Previous County Court Judgements (CCJs), bankruptcy or insolvency do not prevent you from joining.
We also have a Younger Saver account for members from birth to under 16 years of age – a great way to teach children to save and manage money.
There are many great reasons to join –
Why not ask our members what they think?
FAIRshare is a member owned financial co-operative owned by and run for the benefit of our members. As soon as an adult opens an account they become a member and a shareholder. All our members have a say in how their credit union is run – come along to our AGM each February and have your say !
There is a one-off membership fee of £5 when joining, and members are asked to save a minimum of £1 a week or £5 a month.
The Wrekin Council Employees Credit Union was launched on 1st September 1994 to offer savings and loans to employees of Wrekin Council. 155 members joined on the opening day, and by the end of 1994 more than 450 staff had signed up.
In 2000, the credit union changed its name to FAIRshare, and following a change to its ‘common bond’ membership was opened to everyone who lived or worked in the Borough of Telford & Wrekin. Membership grew quickly, with Oak Credit Union & Dawley & District Credit Union transferring to FAIRshare in October 2000, and S.H.R.U.B. Credit Union (which served Stirchley, Hollinswood, Randlay United with Brookside) and Broseley & Much Wenlock Credit Union joining in 2002.
In 2012 members voted to extend the common bond to include everyone who lives or works in Shropshire, and a second office was opened in Shrewsbury. The introduction of Online Loan Applications in 2014, has enabled people across Shropshire to join and apply for loans from the comfort of their home, and membership continues to grow.
The Rules of FAIRshare Credit Union can be downloaded below –