What is a credit union?

A credit union is a community cooperative, created and run by its members, for the benefit of the membership.

A credit union is a responsible alternative for savings and loans. They have been around in the UK since 1964 and understand individual member’s circumstances. Credit Unions help to provide access to savings and loans that members might not be able to otherwise access. With a focus on what people can afford, credit unions make decisions that benefit members, not external shareholders. They also encourage savings that benefit their communities and help members access money responsibly.

Become a member

6 benefits of credit unions

We are an ethical alternative to big banks and payday lenders


Unity is strength
Made by retail workers, for retail workers


Payroll Deduction
Make payments directly from your wages


We aren't robots
We take a personal look at each application


Life Insurance
Free Loan Life Insurance for all members


Bring your family
Family members can also save and borrow with us


Funds protected
By Financial Services Compensation Scheme


Who are retailCU?

Retail Credit Union was created in 2016 with one goal - to boost the financial wellbeing of the UK's 4 million retail workers.

In 2013, the leading retail charity, retailTRUST, identified mounting concerns among retailers about the number of employees reporting financial difficulties. This prompted retailTRUST to establish a Credit Union for Retail. retailCU is the result; a mutually-owned not-for-profit business built solely to support the financial needs of its members. All employees in the retail section are eligible to join.

In September 2016, retailCU received final authorisations from the Prudential Regulation Authority and the Financial Conduct Authority, and we launched in May 2017. A growing number of retailers are now offering Retail Credit Union's services to their employees through an easy to administer payroll system.

Back to the top

Become a member

Payroll Deduction

If you work for one of our Payroll Partners, you can set aside a regular sum of money from your wages or salary.

Payroll deduction makes managing your finances effortless, it's also really easy to set up and amend later. It simply sets aside a fixed sum from your salary or wages into your savings or loan account each time you get paid.

Back to the top

Payroll deduction [Converted]

Our Payroll Partners


Credit score [Converted]

We aren't robots

Our members are unique, so when you apply for a loan we look at your circumstances and approve a wide range of applicants - not just if the computer says yes.

High street lenders give their best rates to applicants with good credit. We aim to help as many people as possible to borrow without using high-interest payday loan companies.

Back to the top

Loan Calculator

Loans Life Insurance

When you become a member and take out a loan with retailCU, you automatically qualify for free life insurance on your loan*.

Our Loans Life Insurance covers all of our members' loan accounts, for total peace of mind when you borrow from Voyager Alliance Credit Union. In the event of your death, the Credit Union will write off the remainder of your loan, meaning that your family will not need to worry about outstanding debts.
*Terms and Conditions apply.

Back to the top

Become a member

Life insurance [Converted]

family standing up coloured-3

Bring your family

Once you become a member of Retail Credit Union, you are eligible to stay a member for life - even if you stop working in retail.

Not only this, but the moment you become a member, any family living at the same address are also eligible to join the Credit Union. This means that the whole family can access our savings, loans, and bespoke financial education.

Back to the top

Become a member

Savings protected

Your eligible deposits with retailCU are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

This is the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered, which is why we have capped our savings limit at £85,000.

Please click here to read "A Guide to the Financial Services Compensation Scheme" or visit

Back to the top

Become a member