Welcome to Greater Govan Credit Union Limited
Who runs the Credit Union? You do.
Govan CU is a financial co-operative owned and controlled by its members. It was founded 10 years ago by residents of Govan to provide the community with user friendly saving and loan facilities.
Our members save regularly which creates a fund in order to provide loans to each other at a fair rate of interest.
The Credit Union is run by a voluntary board of directors, who have been elected by the membership and trained in all aspects of the credit union. The board have since appointed 4 full time members of staff to ensure the smooth running of the credit union on a daily basis.
How do I join the Credit Union?
If you live or work in or around any of the areas covered by our common bond you are eligible to join Greater Govan Credit Union, all you need is 2 separate forms of evidence to confirm your identity and address details.
One must be: Proof of your identity (Passport, drivers license, student ID etc.)
The 2 nd must be: Proof of your address (Missive, recent council tax bill, bank statement etc.)
There is a £5.00 membership fee to cover administration costs.
On becoming a member of Greater Govan Credit Union you are agreeing to save at regular intervals i.e. weekly, fortnightly, four weekly or monthly. You can save as little or as much as you like, your savings are called Shares and each share is worth £1. Every member's savings are pooled together in the one big pot and from this we provide Low Cost Loans to members, who pay back into the pot to allow other members to borrow, and so on. GGCU is a Not For Profit Organisation which means that any money left after all the running costs are met, is paid back to the members in the form of a Dividend. A dividend would be expressed as a % of your Shares and would normally be declared by the Board of Directors on the advice of the independent accountant who must annually audit the accounts of the credit union.