national fire savers credit union founded 2010 1998 type industrial and provident society location fire brigade headquarters 169 union street london se1 0ll website firesavers.org.uk national fire savers credit union limited is a not for profit member owned financial co operative based in the london borough of southwark and operating throughout the united kingdom . it has assets in excess of 5 000 000 . the credit union provides a financial community where members mutually benefit by pooling their savings to lend to one another . 1 it is a member of the association of british credit unions limited 2 registered under the credit union act 1979 . contents 1 history 2 activities 2.1 savings 2.2 lending 3 see also 4 references 5 external links history edit see also history of credit unions london fire savers credit union was formed in 1998 to enable london firefighters and their families to access affordable credit and secure savings . in 2010 london fire savers became national fire savers credit union by extension of the common bond to include all firefighters wherever they are serving in great britain . 3 from 617 active members in 1998 the credit union has steadily grown each year . in 2013 it had 2 487 active members . 4 activities edit the members of a credit union must share a common bond . in the case of national fire savers membership is restricted to employees of the fire and rescue services in england scotland and wales . 5 existing members remain eligible for life even if they leave the service or retire . 6 national fire savers runs a payroll deduction savings and loans scheme in conjunction with london fire brigade and affiliated brigades . the credit union is responsible for the operation of the scheme with the brigade facilitating monthly deductions from salary . 7 savings edit credit unions don t pay interest on savings instead they return a dividend to members based on financial success over the previous year . dividend is calculated after the accounts have been audited and it is approved at the annual general meeting . 8 in 2013 total dividend paid by national fire savers was 95 860 . 4 there are three types of savings account offered the basic membership account ; savings plus which pays an enhanced dividend for members with at least 1 000 to save ; and the christmas club which does not attract dividend . 9 national fire savers credit union is authorised by the prudential regulation authority and regulated by the financial conduct authority and pra . ultimately like the banks and building societies members savings are protected against business failure by the financial services compensation scheme . 10 lending edit the loan policy allows members to borrow up to three times the balance of their savings plus 1 000 less the outstanding balance of any existing loans . 11 there are five types of loan available the everyday loan and member loans for members of at least three months standing ; the larger non affiliate loan and affiliate loans for members whose contributions are collected by payroll deduction ; and the savers loan for those who want to keep their savings but still require a loan . 12 see also edit credit unions in the united kingdom fire services in the united kingdom british co operative movement references edit how does it work national fire savers credit union retrieved 9 february 2015 credit unions in membership of abcul association of british credit unions retrieved 1 november 2014 our history national fire savers credit union retrieved 9 february 2015 a b facts and figures national fire savers credit union retrieved 9 february 2015 joining the national fire savers national fire savers credit union retrieved 9 february 2015 what if i leave the brigade or retire national fire savers credit union retrieved 9 february 2015 affiliated brigades offering payroll deductions national fire savers credit union retrieved 9 february 2015 dividends paid on savings national fire savers credit union retrieved 9 february 2015 savings accounts with national fire savers national fire savers credit union retrieved 9 february 2015 credit union guide financial services compensation scheme retrieved 2 april 2015 how much can i borrow national fire savers credit union retrieved 9 february 2015 loans available from national fire savers national fire savers credit union retrieved 9 february 2015 external links edit national fire savers credit union association of british credit unions v t e credit unions in the united kingdom community alford and district community bank the co operative eastern savings & loans east london cherwell community bank leeds city lincolnshire london capital london community london mutual london plus louth community bank northamptonshire north london plaid cymru rainbow saver anglia thamesbank wandsworth plus white rose yourcu industrial changemaker churches mutual 1st class manchester unity national fire savers nhs ou employees pcs penny post plane saver police rmt scvo tcu money dissolved district of canterbury hornsey co operative north west london radio taxicabs london associations association of british credit unions gb irish league of credit unions ni ulster federation of credit unions ni retrieved from https en.wikipedia.org w index.php title national fire savers credit union & oldid 654725166 categories credit unions of the united kingdomfinancial services companies based in londoncompanies established in 1998fire and rescue in the united kingdom navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 3 april 2015 at 03 43 . text is available under the creative commons attribution sharealike license ; 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