Moneywise Credit Union is a financial co-operative which offers savings, loans and related services to all its members. Members save regularly and can take out loans at a low interest rates.

Owned and run by its members, Moneywise is non-profit making with any surplus being returned to its members as a dividend. The amount of dividend is decided by the members at the AGM, which is held each February.

Moneywise Credit Union is open to anyone who lives or works in Tyne and Wear. Membership is free however children and young people under the age 18, cannot take out loans, stand for election or vote at meetings.

The first deposit is £5 then minimum saving is £1 weekly or £5 per month, payable by cash, cheque, standing order or debit card. You can usually withdraw your savings by giving one day’s notice.

You can view more details about Moneywise Credit Union on their website.