Business Details
34 Years
experience
Your Trusted Community Credit Union in Leicester
Bulwell Credit Union was established in 1992 as Highfields Community Credit Union, initially serving as an anti-poverty initiative led by local churches. Over the decades, we have evolved into one of the UK's most dynamic financial cooperatives, dedicated to supporting communities across Leicester, Leicestershire, Rutland, Coventry, Warwickshire, Nottingham, and Nottinghamshire. As a not-for-profit organisation, our core mission is to reinvest money back into the local community while providing accessible financial services. We specialise in offering fair and affordable loans, ethical savings products, and current accounts tailored to meet diverse financial needs.Our commitment to financial inclusion ensures that all applicants, regardless of background or credit history, receive fair consideration. Governed by a volunteer board elected by members, we maintain rigorous regulatory compliance through authorisation by the Prudential Regulation Authority and membership of the Financial Services Compensation Scheme. Our community-focused approach extends to initiatives like the Community Grant Scheme, which directly benefits local projects and organisations.
Services
Personal Loans
Family Loans
Savings Accounts
Current Accounts
Community Grants
Payroll Deductions
Online Banking
Mobile App
Financial Advice
Community Support
Details
- Year established: 1992
Highlights and features
- Ethical lending with APR rates from 8.7% to 42.6% based on individual circumstances
- Community reinvestment through our Community Grant Scheme supporting local projects
- Savings protected up to 85,000 by the Financial Services Compensation Scheme
- Flexible loan repayments tailored to disposable income calculations
- Financial education resources addressing cost-of-living challenges
Associations and certifications
- Prudential Regulation Authority
- Financial Conduct Authority
- Financial Services Compensation Scheme
- Financial Ombudsman Service
- Association of British Credit Unions (ABCUL)
What people say
Fair lending practices
Community reinvestment
FSCS protection
Flexible repayments
Financial education
Services
Personal Loans
Flexible borrowing options from 50 to 15,000 with tailored APR rates between 8.7% and 42.6%. We assess applications based on individual circumstances, including income and expenditure analysis. Repayment terms range from 60 days to 60 months with weekly, fortnightly, or monthly options available.
Savings Accounts
Ethical savings solutions including Instant Access, Cash ISA, and Gold Saver accounts. Interest rates up to 4.1% AER with FSCS protection for balances up to 85,000. Funds support community development through our Community Grant Scheme while maintaining liquidity for account holders.
Current Accounts
Day-to-day banking services with direct debit capabilities and benefit payment acceptance. Includes budget accounts for improved financial management and payroll membership schemes through partnered employers like Leicester City Council and local educational institutions.
Community Grants
Community reinvestment programme distributing funds to local groups and projects. Prioritises initiatives that address financial exclusion and support social welfare across our service areas. Grants awarded based on demonstrated community impact and alignment with our ethical objectives.
Financial Education
Comprehensive resources addressing financial literacy and cost-of-living challenges. Provides guidance on credit building, budgeting techniques, and debt management strategies. Signposts members to specialist agencies when additional support is required for complex financial situations.
Questions
What loan amounts can I apply for?
We offer personal loans from £50 to £15,000 depending on your financial circumstances and repayment capacity.
Do you accept applicants with poor credit history?
Yes, we consider all applications regardless of credit history and assess affordability based on current financial situations.
How are savings protected?
Deposits up to £85,000 per member are protected by the Financial Services Compensation Scheme.
What repayment options exist?
Choose weekly, fortnightly, or monthly repayments via standing order, payroll deduction, or direct benefit payments.
Do you offer tax-free savings?
Yes, our Cash ISA provides tax-free savings with a competitive 4.1% annual interest rate.
How does community reinvestment work?
Surplus funds generate community grants supporting local projects and organisations across our service areas.