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Bank accounts and credit unions

Bank accounts and credit unions

Bank accounts

Opening a bank account is probably the most important thing you can do to help manage your money.

Most banks will offer you a basic account - basic bank accounts offer many of the same facilities as a current account, but don’t have overdrafts. You can use your tenancy agreement as a form of identification for this type of account.

Credit unions

Credit unions offer safe and easy ways to save money. Once you start a savings account with a credit union, you’ll be able to access a low interest loan that means you can borrow safely without incurring crippling interest charges.

When Universal Credit comes into force, you'll need an account for it to be paid into. A credit union budgeting account is ideal for this. It divides your money into 'pots' - for example, one for saving and one for bills. You decide how much money goes where.

We can help you open a credit union account. Speak to us on 0115 915 4920.

Or you can call Nottingham Credit Union for free on 0800 093 70 90 or visit their website.