19 May 2016

CWU Member Benefit Update: 1st Class Credit Union wins major rating award

The Fairbanking Foundation, the leading certification scheme for financial institutions in the UK, has officially awarded a five-star rating to the personal loan products of the 1st Class Credit Union. They have been awarded the Fairbanking Mark in the highest possible category for their personal loans because they have a tangible positive impact on customers’ financial wellbeing.

This is the first time that the Fairbanking Mark (used by banks like RBS and Natwest as a mark of the value their products have on customer financial wellbeing) has been awarded to credit unions that serve employees of a specific sector. The 1st Class credit union serves almost 9,000 members and is available to all communication companies which the CWU have affiliations with.

Antony Elliott, Chief Executive of the Fairbanking Foundation, comments: “The evidence shows that credit unions are playing an increasingly important role in people’s financial lives in the UK.  We have now worked with 7 credit unions to ensure their personal loan products are ready to be granted Fairbanking Marks.”

“We hope that today’s awards will act as a catalyst for more credit unions to apply for the Fairbanking Mark to demonstrate the fair and transparent service they are offering to the communities they serve.” 

Andy Wright Manager 1st Class Credit Union “1st Class Credit Union are delighted to have been awarded the 5 Star Fair banking award for our personal loan products, the staff and directors of 1st Class Credit Union are fully focussed on our members needs and this is reflected in the products we offer. We will also use the feedback to improve on our services bringing further transparency and financial well- being for our members.”

CWU members can take advantage of this membership benefit by joining 1st Class Credit Union online at 1stclasscu.co.uk or by calling 0141 5528408

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