Anyone who lives or works in Fife.

Simply go along to one of the collection points shown in the directory part of the website, fill in the application form and bring in identification.

You will need two forms of ID to join a Credit Union.  These can be a household bill, e.g. council tax, gas, electricity, benefits letter, tenancy agreement, passport or driving licence.  If you're unsure if you have the correct documentation, contact your local Credit Union who can advise you further on what you need to bring.

The entrance fee varies between £1 and £2.50 depending on which Credit Union you join plus you must pay a minimum of £1 into shares.  Junior members (under 16) join FREE.

No you can pay in what suits when it suits you e.g. weekly, fortnightly or monthly, you can also pay directly from you bank account by standing order.

No.  Everyone who is a permanent resident within the common bond is welcome to join.

This varies between 6 and 12 weeks as each credit union decides its own loan policies.  However if circumstances warrant it the credit committee can veto the waiting time. 

If you live or work in Central Fife and are in receipt of benefits, Kingdom Credit Union offer introductory loans of up to £250 paid back over 25 weeks at £11 per week (you must also save at least £1 per week while repaying your loan).

The amount of loan is decided upon by the member's ability to repay and the amount of savings held. All first loan applications are given an interview to explain the workings of the Credit Union.

The Credit Union takes 1% interest per month on a reducing balance e.g. on £500 repaid over 1 year you would pay £30.94 interest. This equates to 12.68% APR.

Kingdom Credit Union introductory loans are charged at 2% per month on the reducing balance, e.g. on £250 repaid over 25 weeks you would pay £17.30 interest. This equates to 26.8% APR.
An unsecured loan from a typical doorstep lender for £250 repaid at £8.75 a week over 1 year would cost you a whopping £205 in interest.  This equates to 272%APR.

Far from it!  As the loan interest is based on the reducing balance the sooner you pay back the loan the less interest you pay.  Most Credit Unions calculate interest on a daily basis to make it even more attractive to repay your loan early if you can.

The Credit Union pays insurance to cover loans in the event of the death of a member.

The Credit Union pays life insurance on member's shares; in the event of death the insurance will pay 100% of the share amount. This ceases when the member reaches 80 years old; shares deposited up to 80 retain their insurance value.

There is a Credit Committee elected from within the Board of Directors, they look at every loan application and where necessary interview the member.

The Credit Union treat all information obtained concerning a member in the strictest confidence.