Useful links
Association of British Credit Unions
Scottish League of Credit Unions
European Association of Co-operative Banks
Finance
Credit unions, building societies, co-operative banks and mutual insurers are owned by their customers for mutual gain.
The customers who hold the accounts in a credit union are also its owners and members. They usually share a common locality, industry or organisation.
There are around 75 credit unions based in Scotland, including Scotwest and Capital Credit Union.
The account holders of building societies, mutual insurers and co-operative banks are also co-owners. They provide the business's capital and share in its profits.
The sector includes Nationwide Building Society, the UK's third largest mortgage lender, and The Co-operative Bank, part of The Co-operative Group, the UK's largest consumers' co-operative.