Frequently asked questions:
How does Cash Box make any money?
Credit Unions rely on two sources of income, interest received on loans and grants. The more loans our members take out the better for us as the interest charged goes into our budget for future investment.
Are credit unions needed?
In the current economic climate we are finding more and more people are having difficulty making ends meet and high street credit is out of reach. Credit unions are a safe alternative for affordable loans and much cheaper than door step lenders, cheque cashers, log book loans or web-based loan providers.
Is it safe to save with a credit union?
Yes. Cash Box credit union is protected by the Financial Services Compensation Scheme (FSCS) in the same way as UK regulated banks and building societies. This means that if the organisation fails, the FSCS will compensate members for any losses up to £85,000.
