Member Update: Membership Fee
At Right Way Credit Union, our members are at the heart of everything we do. As a financial cooperative dedicated to providing affordable and ethical financial services, we continually strive to support your financial wellbeing, even in challenging times.
What’s changing?
As agreed by our members at our Annual General Meeting in March, starting from October 2024, the membership fee will increase from £5 annually to £1 per month. This decision, while necessary due to rising operational costs, was carefully considered and ensures we can continue delivering the exceptional services you’ve come to rely on.
What do you get as a member?
Your membership means more than just access to financial services; it’s about being part of a community. Here’s how the membership fee will allow us to strengthen and expand the services we offer –
- Affordable, ethical loans: Borrowing from Right Way Credit Union means more than just accessing funds—it’s about doing so affordably and ethically. We offer competitive interest rates, ensuring our loans remain manageable and fair. Our loans whether it Personal, Family, or for special occasions like Christmas focus on providing flexible, transparent lending options with no hidden fees. These products are tailored to help you reach your financial goals with confidence.
- Savings accounts: We provide a range of savings accounts to help you build financial security. From our Junior Savings account to our Christmas Savings option, our accounts are designed to help you save with ease and purpose. Plus, your savings are protected through our Life Savings Insurance, offering additional security for your peace of mind.
- Free financial tools: Our budget planner and benefits calculator (in partnership with InBest) are designed to keep you on top of your finances, offering extra support when you need it most.
- Loan and savings protection: As a Right Way Credit Union member, your savings and loans come with added peace of mind through our FREE Life Savings and Loan Protection Insurance. In the unfortunate event of death, your loved ones receive a lump sum based on your savings balance, helping with funeral costs or leaving a legacy. Additionally, any outstanding loans are covered, ensuring your family isn’t left with financial burdens. This invaluable service comes at no extra cost, reflecting our commitment to your financial security and wellbeing. *Ts&Cs Apply.
- Local impact: By being a member of Right Way Credit Union, you’re not only supporting a cooperative that keeps money circulating within the local communities, helping to sustain local jobs and businesses, but you also gain access to a range of convenient services. We operate three local branches where members can receive face-to-face support for all their financial needs. In addition, our online member area and mobile app make it easy to manage your account on the go, check balances, apply for loans, and stay up to date with your finances anytime, anywhere.
For nearly 20 years, we’ve been a trusted alternative to high-interest lenders and loan sharks, and we remain committed to serving you. This small fee adjustment helps us retain and improve the services that benefit over 11,500 members like you and ensures that we can continue to support our community for years to come.
Thank you for being a valued member of Right Way Credit Union
