Ipswich and Suffolk Credit Union Ltd is a Credit Union.

Credit Unions are financial co-operatives owned and run by members to provide an alternatives to banks, building societies and high interest lenders.

Once you  become a member you can save by paying in using a PayPoint card, or by visiting one of our community collection points, or by setting up a standing order.

You can apply to borrow after you have saved continually for 13 weeks or 3 months. Loans are charged at a fair rate of interest depending on how long you have been paying into the credit union. Loan rates vary from 12.7% APR to 26.8% APR on the declining balance, ISCU’s Typical rate is 19.6 % APR.

Money saved with a credit union is just as safe as money in the bank. Like banks, Credit Unions are regulated by the Financial Services Authority and your money is covered by the Financial Services Compensation Scheme just like the banks.

We can also Process your Wages, Benefits and Tax Credits. Benefits can be processed through your account, please look at the details of the Prepaid Maestro Card as you need to be able to get your money out easily, ISCU can load your pre-paid Maestro card with your benefits on your payday so you don’t need to come to the ISCU office to collect them

Tax credits: Pay one or more tax credits into the credit union to help save for the future

Wages can be received into the credit union – you can pay wage cheques in and wait for the cheque to clear. If you want to be able to withdraw immediately, your employer can pay by BACS straight into the credit union’s bank account. ISCU can load your pre-paid Maestro card with wages on your payday so you don’t need to come to the ISCU office to collect your wages