The National Credit Union Forum (NCUF) is the Credit Union Committee of the BSA. Its purpose is to drive positive change for the benefit of member credit unions and the wider credit union sector as a whole. 

As a representative body, NCUF advocates on issues that are not only sector relevant but impact their members and their financial wellbeing. As BSA members, NCUF credit unions benefit from technical advice and support, particularly around regulation, mortgages and housing; green finance; savings; financial policy and legal, governance and compliance matters. 

NCUF works collaboratively alongside other trade body representatives within the sector to lobby for legislative and regulatory change. Member credit unions are all active participants in BSA activities, including membership of the regional framework, represented on the BSA Council and as BSA working group participants. In addition to bespoke training events, NCUF hosts an annual conference in Penrith featuring high profile speakers focusing on topical issues, as well as networking opportunities for the credit union sector. 

The current members of NCUF are:

Capital Credit Union

Glasgow Credit Union

Leeds Credit Union

London Mutual Credit Union

Manchester Credit Union

No1 CopperPot Credit Union

Scotwest Credit Union

* Partners Credit Union is an NCUF credit union but does not hold BSA membership.

Sector statistics

NCUF credit unions serve over 288,000 members through varying common bonds, which include employment and geographical bonds. Holding a 20% market share of the credit union sector (excluding Northern Ireland), the group holds member savings of over £478m and loans exceeding £368m.

(All financial statistics as at 31 December 2023.)

You can find more statistics on credit unions on the PRA’s website for YE2023 here

For people, not shareholders – The credit union difference

Credit unions are member-cooperatives, providing savings and loan to these members who all share a common bond. This typically means they are either based in their local community or their members work in the same sector, e.g. the police.

Credit unions promote regular saving, offer personal loans and several NCUF member credit unions also provide mortgages. Their members’ needs are at the heart of their business.

Unlike PLC banks, which prioritise shareholder returns, credit unions operate for the benefit of their entire membership. While their businesses must be run rigorously and prudently, credit unions’ approach drives a different decision-making process, ensuring the heart of the business remains with the people it serves.

For a brief overview of the sector, see the For People, Not Shareholders leaflet.