retailCURe is a credit union serving anyone who works in retail and related industries. Members save to create a common pool of savings, which is then used to provide loans to members who wish to borrow.
We are part of a global movement of 57,000 credit unions in 105 countries with 217 million members.
The Credit Union has no external shareholders; all profits are re-invested in the business or given to members in the form of interest on savings.
Saving & borrowing
Our savings accounts are easy to set up and you can deposit a lump sum, make occasional or regular payments with great rates of return. Find out more.
We know that it can be hard to manage the peaks and troughs in expenditure. Sometimes loan repayments can get missed and you may have to resort to payday lenders. Every loan at retailCURe is treated individually and we recognise the need to be flexible. Find out more.
If you’re more of a borrower than a saver, our Save as You Borrow scheme will help. Every time someone borrows from us part of the repayment is allocated to an easy access savings account, so when the loan is repaid you have built up a small nest egg reducing your need to borrow in the future.
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. retailCURe 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, retailCURe received final authorisations from the Prudential Regulatory Authority and the Financial Conduct Authority, and we launched in May 2017. A growing number of retailers are now offering retailCURe's services to their employees through an easy to administer payroll system. Find out more.
Our Business Goals
- Win the respect and trust of our members, and stakeholders by acting with honesty, transparency and fairness at all times.
- Provide Members with straightforward Savings products at competitive rates.
- Offer Members loans at reasonable and affordable rates, with no hidden fees or charges.
- Promote and support Members efforts to improve the management of their personal finances through the provision of online budgeting tools, financial education materials and the consistent use of clear, unambiguous language at all times.
- To grow our membership to become self-sustaining and a leading Credit Union in the UK.
- To provide Members with services via advanced mobile and internet channels.
- Be regarded by our peer Credit Unions and regulators as a benchmark for integrity and excellent corporate governance through strong adherence to the spirit of the Credit Union Movement.
- To build a co-operative business that will be the preferred financial services provider for employees of UK retail businesses.
Our common bond
To open an account, you must be a UK resident aged 16 or over and qualify under the ‘common bond’ requirements; that is you must work in retail. This is defined as working for ‘a retailer, in retail manufacturing, retail wholesale distribution or in support services for retail.
For further information see our common bond criteria or read our FAQs page.