About Us

CU History

WHEB was established as a Community based CU in January 1995 and has enjoyed considerable growth ever since proving that our economic, social and financial services are of benefit to our members and our community.

We presently have over 1700 active adult members and over 900 junior members.

We are an independent, not-for-profit financial co-operative, owned and controlled by our members. We are one of more than 500 credit unions in the UK and 43,000 worldwide.

Credit Unions have been around since the 1830’s and now operate in around 100 countries with a combined membership of around 160 million people and savings totalling more than £400 billion. In Britain, where credit unions are a relatively recent phenomenon, there are over 500,000 members with around £500 million of savings

How the CU is run

We are run, on behalf of our members, by a volunteer Board of Directors who are all also members. There are also a number of other Committees, covering a variety of roles, which are also staffed by volunteers.

Because the credit union is owned by its members they play a key part in its running by voting on important decisions and electing the Board of Directors

All Directors and Officers are individually vetted by the Financial Services Authority and receive training specific to their roles.

WHEB Credit Union currently has four employees.

WHEB Credit Union currently has a number of volunteers without whom your Credit Union would not function. We are always seeking new individuals to become more involved. It doesn’t matter how little or how much spare time you have, it is much appreciated. Why should you consider this:

• Gives something back to your community

• Utilizes your skills and attributes

• Gives you access to training and development

• Brings you into contact with others in your community

• Great way to improve your CV if you are looking for work 

Everyone has something to offer and full training is provided, so why not contact us for further information?

How we are regulated

We are authorised and regulated by the Financial Conduct Authority (213714), The Prudential Regulatory Authority & The Financial Services Compensation Scheme, which means our member's savings are protected by law. The FSCS can pay compensation to depositors if a Credit Union is unable to meet it’s financial obligations. Most depositors - including most individuals and small business – are covered by the scheme, in respect of deposits, an eligible depositor is entitled to claim up to £85,000.

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