Services Available
Standard Account
Your membership starts as soon as the application is accepted with a joining fee of £5 for adults and £2 for children, and at least £1 savings are received. Please note, by law we can only offer membership to people who are associated with a Christian church in the Birmingham area. If you do not meet this requirement, the ABCU web site lists other credit unions you can apply to join.
HBCU ISA
With the popular HBCU ISA members can save up to £3,600 per year in our ISA account tax free, to find out more about this great Individual Savings Account and associated services visit our News & developments page.
HBCU Loans
We extend loans of up to a maximum of £7,500 above your savings, repayable over up to five years. The interest rate is 1% per calendar month, calculated daily on the reducing balance. There is no penalty for quicker-than-promised repayment and your loan is protected by Life Insurance, at no cost to the borrower. At the end of each year we aim to pay a ‘cash back’ on interest paid by borrowers.
Junior Membership Scheme
We encourage children from age 0 to get into the savings habit. Often, parents or relatives do a modest standing order in favour of the child, or make cash or cheque payments at a Service Point, and supplement it with birthday or Christmas money.
Changes to HBCU Accounts and Services
Due to the current ecconomic climate the HBCU have found it necessary to discontinue the Christmas Cracker loan promotion and Revolving Credit loan, in addition we have revised the ratio of loan-to-share that a member can apply for. Further details to follow soon.