Credit union

We recognise the importance of encouraging our Service Users to develop their life skills by improving their knowledge and understanding of budgeting and finance. This can have a positive impact not only in developing skills for employment but also in our Service Users’ personal lives.

One of our approaches is to promote membership of our local community Credit Union, Northern Oak.

Credit Unions are financial co-operatives that are owned and managed by their members. Amongst other things they offer the opportunity to save on a regular basis and obtain loans based on their savings at highly competitive rates and also provide free life insurance. They have the advantage over many other financial institutions in that they are more community orientated and will often provide a much more personalised support for individual members.

Northern Oak is the main North Tyneside community Credit Union having been formed over 10 years ago through the amalgamation of 6 smaller Credit Unions in the area. Its main office is based in North Shields, however, they have service points all over North Tyneside. Membership is open to anyone living or working within the boundaries of North Tyneside and so all of our Service Users are eligible to join.

Further information on Northern Oak Credit Union can be obtained from their website