Welcome to First Dorset Credit Union Ltd
If you live or work within the area, we are your local savings and loans co-operative.
We are a community support organisation, staffed by local volunteers. We provide our members with a safe, ethical, and more economical alternative to high street banking and doorstep lenders.
Our common bond area now covers the the whole of rural Dorset, so that we can offer our services from Lyme Regis in the south to the Blackmore Vale in the north. Our main office is in Dorchester. Check for a service point near where you live or work.
Run by local people, for local people.
Flexible
We can offer loans from £50 to £7,500 depending on your circumstances. Our loan schedules are negotiable and we will agree payment details with you – even if you don't have a bank account or can't get credit with high street banks.
Affordable
Our interest rates are low, with no hidden charges. You need just £2 to join: a £1 joining fee, and £1 to open your own savings account.
Ethical
Unlike banks, we are not here to make profits for others; we charge interest starting at just 1% per month on the reducing balance and provide free life insurance cover (subject to age). This interest is used to cover basic office costs - any surplus profit is paid back to members as an annual dividend.
Friendly
At all times members are treated with respect and courtesy. Your personal details will be kept in strict confidence.
Safe
First Dorset Credit Union is regulated by the Financial Services Authority. We also belong to the FSA Compensation Scheme which provides 100% compensation for the first £2,000 of savings and 90% for amounts above £2,000