Credit unions are member owned financial co-operatives that operate in a 'not for profit' way. They are regulated by the Financial Services Authority (FSA).
Credit unions help you manage your money by encouraging you to save and borrow only what you can afford to pay back.
Credit unions provide low cost loans in a bid to stop people turning to loan sharks, pay day loans, doorstep lenders or expensive online companies when refused loans by regular banks and building societies. All lending decisions are based on your affordability to repay the loan.
You can find credit unions from www.findyourcreditunion.co.uk
The local credit unions are:-
Wyvern Savings and Loans
Taunton and West Somerset Credit Union (formerly Moorvale)