North East Fife Credit Union

North East Fife Credit Union: authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

93 Bonnygate, Cupar


Friday 10:00 - 11:30

Guide Hall
High Street, Auchtermuchty



Tuesday 5:30 - 6:00

County Buildings
St Catherine Street, Cupar





Tuesday 10:00 - 11:30
 5:30 - 7:00

Church Hall
Manse Road, Springfield

Wednesday 4:30 - 5:30

Cunzie Street, Anstruther



Monday 10:00 - 11:30

Collection points

When ordinary people of all walks of life come together to give each other mutual support in order to control their own economic destiny. They take an active part in keeping the money within their community where it benefits all those who contribute whether saving or borrowing. This creates something special which has benefited millions of people around the world and is known as the Credit Union.

Application Forms

Cupar Credit Union opened in 1999 thanks to a group of dedicated volunteers who knew the people of Cupar needed an alternative option to the high street banks. With support from Fife Council collection points were opened within the County Buildings of Cupar and an outreach point in Springfield church hall.

In 2004 the common bond was extended to cover the whole of the North East Fife and changed the name to reflect that. Collection points were opened in YMCA/YWCA Cupar, Town hall/ Library Anstruther, Guide hall Auchtermuchty and St Andrews (which sadly closed after 6 months due to lack of public interest).

There are plans to open other collection points in Newburgh, Tayport and hopefully other outreach areas if the support and volunteers become available. North East Fife is run solely by volunteers, some of whom are the elected Board of Management, who meet once a month to discuss all matters arising and to consider any plans for the future movement of the Credit Union. All Directors have an active role within the Credit Union.

To qualify as an eligible member of North East Fife Credit Union you must live or work within our common bond. North East Fife Credit Union is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. As a version 1 Credit Union we are affiliated to the Scottish League of Credit Unions who support and advise us on all governing bodies and changes of rules and regulations.

 The ethos of the credit union is to promote thrift

All members are encouraged to save even small amounts to encourage financial stability and future security. Savings are called shares as the credit union is a non-profit making organisation, democratically owned and controlled by its members, based on one person one vote no matter how many shares you have.

To open an account all you need is 2 forms of ID, 1 photographic and 1 to confirm your address, and a minimum deposit of £7 (£2 entrance fee and £5 to activate the account).

We also offer a 60day account for saving only; these accounts are to help with saving for Christmas, a wedding, a family holiday or just security. This account requires 60 days notice for withdrawal.


Juniors saving

We offer junior accounts for the under 16's, children can join for free and there is no minimum payment amount. (even 1p per week can educate a child on money control). We currently have collection points in some primary schools with a view to increase this in the future and hopefully also approach the High schools.


It is not the Credit Union's Policy to encourage debt. The Loans and Credit Committee meet once weekly to consider any applications and repayments. Low interest loans are available at 1% per month on the balance (12.6% APR), shares are held as security while repaying loans.

Average loan of £500 repaid @ £10.25 per week for 1 year = total repayment £533.16

Loans are available to all members who save regularly and can show the ability to make regular repayments at a mutually agreed amount, and members are encouraged to continue saving during this time (even £1 per week) to ensure personal security and future growth within the Credit Union. The first loan is restricted and must be repaid within 12 months.

Subsequent loans may be increased depending on the member's record. We also have an agreement with the Cooperative for White goods where members can buy i.e. a washing machine and repay via a credit union loan agreement, with ideal starter packages for those moving into a new home. We do not except a dividend from the coop for this but if the member has a coop dividend card they can receive the dividend due.

An example of the difference in costs to members

If you borrowed £2000 from a ''doorstep lender'' you would repay £40 per week for 104 weeks,

Total repayments   £4160. Personal savings £0

Total loan repayments £2259.36 . Personal savings £2080 deposited in your shares


If you can spare a couple of hours a week, or would like to learn new skills and basic money management then come along to any of our collection points and talk to our tellers about volunteering, or contact us via email or phone.

No experience required. Training for all positions is given and travel expenses can be recompensed. At present there are no paid workers in this Credit Union, only dedicated volunteers some of which are also Directors. Any member of North East Fife Credit Union can become a volunteer. Any member of North East Fife Credit Union can, if desired, be elected onto the Board of Directors.

If you borrowed £2000 from the credit union you could pay £41.72 per week for 104 weeks,
But £21.72 would go towards the loan and £20 to shares.

© 2014 - North East Fife Credit Union. All rights reserved.