Welcoming the launch of a new initiative for serving and ex serving member of HM Forces

The MoD has made it possible for three of the UK’s leading credit unions to join forces and make simple savings accounts and loans available to the armed forces and their families. Visit www.joiningforcescu.co.uk to find out more.

Credit Unions are “not for profit” financial cooperatives, owned by, and run for, their members, based on the ideal of “people helping people”. Often billed as the “ethical alternative to mainstream financial providers”, here at Insignia we’re 100% behind the idea. As you know, we’re all about putting Forces personnel, and their families, first.

Credit unions offer a range of simple saving accounts and loans for their members. All members are required to save, the money is then lent out to other members in the form of loans at interest rates usually much lower than high street banks and other loan companies. Any financial surplus is paid back to the savers in the form of a dividend. Okay, that’s a bit of a simplification, but essentially that’s how it works.

They’re also safe places in which to put your money, as they’re backed by the Government’s Financial Services Compensation Scheme (FSCS) and regulated by the Prudential Regulation Authority and the Financial Conduct Authority.