In this episode, I chat to Sarah Davidson from Boom! about how credit unions work and the type of work they do, across both saving and borrowing, as well as their support for the local community.
Boom! is a credit union for people who live or work in West Sussex, Surrey or Kingston. They give local people access to fair and affordable loans, savings accounts and prepaid cards.
They exist to help make life better for people in West Sussex, Kingston and Surrey.
A credit union is an independent not-for-profit organisation. It’s owned and controlled by its members, who all have something in common, in the case of Boom! the fact they all live in a particular area.
To use the services of a credit union you must be a member.
Credit unions are committed to being responsible lenders, making ethical choices, and making life better for their members and their communities. To do this, different credit unions may offer slightly different services.
Credit unions have been around for decades and today there are more than 40,000 credit unions in 79 countries. There are 118 million other people around the world who believe in and benefit from the ethical and community banking approach that credit unions share.
Here’s my conversation with Sarah Davidson from Boom! Credit Union in episode 336 of Informed Choice Radio.