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Credit Unions

A credit union is a sort of community bank, which is owned and managed by its members.  Credit unions provide fair and affordable financial services (savings and loans) to support local people, helping improve their financial wellbeing and make their local communities be better off.

Members of a credit union share a ‘common bond’- that is, they may live or work in the same area, or work in the same industry. Most people will find they can join at least one credit union if they want to.

As a member, any savings you have with a credit union (up to £85,000) are protected under the Financial Services Compensation Scheme, in the same way that the money you have in your bank account is protected.

Credit unions are not-for-profit organisations. A credit union’s income comes from the interest it charges on its loans to members. This income is used to pay for the running of the credit union and anything left over is paid out to members in the form of a dividend.

Credit unions serve the community, so when people invest in their local credit union it benefits their friends, family, colleagues and neighbours and their local economy.

Cash Box Credit Union

Cash Box Credit Union Is the main credit union for people who live or work in Tameside and Glossop, providing fair and affordable financial services to support local people and communities.

Cash Box has a board of directors which is elected by its members.  Directors are themselves members of the credit union and are volunteers.

Savings Accounts

Cash Box offers Savings accounts for adults and for children.  To join, you need to visit their website and complete an online application form.  When you join, you’ll need to pay £3 (£2 Joining Fee, and £1 to start saving).
You can build up your savings by setting up a standing order from your bank account or via salary deduction if you are an employee of one of their payroll partners.
Cash Box Credit Union also offers a Christmas Savings Account. If you’re regularly paying into your savings account, you can open a separate Christmas Savings Account. Your Christmas savings are automatically paid into your bank account at the beginning of November each year, ready for you to spend on whatever you want.


Once you are a member, Cash Box offers various loan products depending on individual circumstances with interest rates of between 5.6% APR and 42.6% APR.  The highest rate they charge is 42.6% APR.
In comparison, short term, high rate lenders are currently charging between
325% APR and 1333% APR.[1]
Cash Box Loan of £800 over 12 months (based on 34.5% APR)           
Total amount repayable £935.88
Lending Stream Loan of £800 over 12 months 
Total amount repayable £1563.20
[1] Figures correct @ 30th September 2021
  Lending Stream Loan of £200 over 6 months 1333% APR
  Lending Stream Loan of £800 over 12 months 325% APR

Cash Box in Tameside

In the last ten years, Cash Box has granted £5.8 Million in loans to local people.  It is estimated that they have saved their members almost £4.6 Million in interest compared to doorstep and payday lenders. That’s money back into people’s pockets, much of which will be spent in the local economy.
Cash Box Credit Union is authorised by The Prudential Regulation Authority and    regulated by The Financial Conduct Authority and The Prudential Regulation Authority

Firm reference number 213528

Deposits are protected by The Financial Services Compensation Scheme (FSCS)

The Credit Union is also covered by The Financial Ombudsman Service (FOS)


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