About Us

Phoenix Credit Union was formed by a group of employees of Stewart & Lloyds in 1969. The company has taken on many changes since, but Phoenix Credit Union has maintained its purpose ie. to provide an employee benefit by offering a low cost Banking Service, all in a friendly and relaxed manner.

A Credit Union is a group of people (members) who have agreed to help each other by regularly saving together and then lending these savings to one another at low rates of interest. A Credit Union also pays you competitive rates of interest on your savings to encourage you to save.

Who Owns The Credit Union?

Phoenix Credit Union is an independent organisation owned and controlled by its members. You and your fellow members elect a Board of Directors (who are members) and give them the responsibility of operating the Credit Union. Staff employed by the Credit Union are responsible for its day to day operations.

The Profits Come Back To You

Phoenix Credit Union is not in the business of making a large profit for shareholders. It must of course cover costs and set aside some surplus for reserve. Surplus funds are returned to members by way of attractive interest rates and low fees, or indirectly, by providing extra services and better facilities for members.

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