Moneywise Credit Union (head office)

Moneywise Credit Union is a financial co-operative which offers savings, loans and related services to members. Anyone who joins must be part of a "common bond", this means everyone who lives or works in the Tyne and Wear region. Credit unions are a "not for profit" organisation which means that any surplus made is reinvested into the business, any additional profit is used to pay a dividend to members.

Moneywise Credit Union offers a range of loan options depending on how long members have been saving. Interest rates will depend on individual circumstances, but the maximum interest rate that can be charged by a Credit Union is 3% per month (42.6%).

Credit unions such as Moneywise rely on members’ deposits to provide loans so part of the commitment when joining a credit union will be to save regularly. This not only helps other members but also starts a regular saving habit.

Moneywise have collection points across the city.

We do not provide a specialist benefit advice service but do offer Newcastle residents some general support with benefit issues. For example:

• Giving people general information about benefits
• Directing people to specialist benefit advice, information or benefit administrators, or
• Possibly phoning Jobcentre Plus or the Department for Work and Pensions (DWP), writing or helping to write a support letter or completing a benefit claim form.

Website: www.moneywise.org.uk 
Email:  admin@moneywise.org.uk