About Us

About Us

Teachers’ Credit Union is a not-for-profit financial institution specialising in providing a great place for savings and loans to all those employed within the education and training sector in NI.

Members of credit unions all have something in common, this could be the area they live or work in, their occupation, or the employer they work for. This is known as the common bond.

Teachers’ Credit Union is an industrial credit union, established in 1965 by a small group of teachers in the Belfast Area. Initially serving just teachers, we have expanded over the years and membership is now open to all those employed within Education and Training in NI, and this is our common bond.

Teachers’ Credit Union is owned by our members and governed by a Board of voluntary directors. As a not for profit, we do not pay interest on savings, instead all surplus income is returned to our members by way of an annual Dividend or Loan Interest Rebate.

Uniquely, Teachers’ Credit Union is a cashless credit union and operates a fully online account service for all its members. Our cashless nature and utilisation of digital banking technology make our membership benefits accessible to people all over Northern Ireland, without the need to ever visit our offices in Belfast.

Our friendly staff are always available to answer any question or queries, so please do not hesitate to contact us on 02890309770 for further information.

Some Credit Union Benefits

Not-for-profit democratic financial cooperatives owned by members

When you join a credit union you are a member not a customer

Loans and savings are insured at no direct cost to an eligible member

No penalty for lump sum repayments or early loan repayments

CUs are the organisations offering the best customer experience

Payroll Deduction available to employees of SERC, NRC and CCEA to save on a regular basis and/or repay affordable loans

A Professional, Confidential Service

We’re digital when you want it, but human when you need it

The Difference

  • Each credit union is an independent, ‘not-for-profit’ organisation that exists solely for the benefit of its members, not stock markets. Decisions are therefore made at a local level.
  • No matter how much you have saved, all members have equal voting rights on issues affecting their credit union.
  • We offer members the chance to have control over their own finances by making their own savings work for them. Teachers’ Credit Union is owned by the members - the people who save and borrow with it - people like you.
  • When you become a member and start saving with Teachers’ Credit Union you will have access to fair and reasonable rates on savings and loans.
  • Your savings contribute to your credit union’s loan fund. So your savings are helping other members. Members like you.
  • Teachers’ Credit Union exists only to serve its members - not to profit from their needs. Surplus income generated is returned to members as a dividend, interest rebate or to improve service to members.
The Difference

The Difference

  • Each credit union is an independent, ‘not-for-profit’ organisation that exists solely for the benefit of its members, not stock markets. Decisions are therefore made at a local level.
  • No matter how much you have saved, all members have equal voting rights on issues affecting their credit union.
  • We offer members the chance to have control over their own finances by making their own savings work for them. Teachers’ Credit Union is owned by the members - the people who save and borrow with it - people like you.
  • When you become a member and start saving with Teachers’ Credit Union you will have access to fair and reasonable rates on savings and loans.
  • Your savings contribute to your credit union’s loan fund. So your savings are helping other members. Members like you.
  • Teachers’ Credit Union exists only to serve its members - not to profit from their needs. Surplus income generated is returned to members as a dividend, interest rebate or to improve service to members.
Not a Member? No problem...

Not a Member? No problem...

To join us you must be directly involved in Education and Training, living or working in Northern Ireland. Spouses of members are also eligible to apply for membership. We're offering you a safe and reliable way to become a member by simply downloading our mobile app.

Still have questions?

See if they're answered in our FAQs below

A financial cooperative, owned, and controlled by its members for its members.

Your credit union can help you achieve financial independence through regular savings and fair and affordable access to loans.

The common bond is that factor which unites all members of a credit union. It defines the area within which the credit union can operate. The most usual common bond are Community bond (where all members live in defined village, town or locality); Occupational Bond (where all members are in the same occupation or work for the same employer); Associational Bond (where all members are in the same society or association).

As the amount of shares builds up, the common fund of money grows. This is then available for providing loans to members. All members are encouraged to save regularly, even when repaying a loan. This gives the member several direct benefits, and ensures that there are funds for the credit union for use by all members.

Every £1 saved is equivalent of one share in a credit union. A minimum saving of £1 is needed to keep the account open. You should save regularly to build up a savings history. Each share is eligible for a dividend at the end of the year. The more savings held by the Credit Union, the more funds are available for loans to members.