Joining Forces

Joining Forces consists three of the UK's leading credit unions, providing a range of simple savings accounts and "affordable" loans to military personnel direct from their payroll. The arrangement, made possible by the Ministry of Defence, means Armed Forces personnel, their family members and retired personnel receiving a pension are eligible to save regularly or repay loans with credit unions directly through their pay packets, via deductions from their payroll. Credit unions are mutual financial co-operatives that take deposits and give loans to members. They offer a range of easy-to-understand savings accounts and a variety of loans for their members. All members of a credit union are required to save, with this money then lent to other members who may need to borrow through a choice of loan products designed to meet different needs-whether paying off expensive existing loans, paying for a holiday or buying a car. Usually, credit unions charge much less interest on loans than many other lende