About Us

"About the 1st Class Credit Union"

Welcome to The 1st Class Credit Union

The 1st Class Credit Union is a non-profit organisation which was formed in 1992. The Credit Union was set up to serve workers in Scotland employed by one sponsoring employer: The Royal Mail. The Credit Union is a financial cooperative owned and run by its members. It is run on a 'not for profit' basis.

Every Credit Union must have a 'common bond'. Our 'common bond' is employees of The Royal Mail , Post Office Counters, Cashco, Romec, and Quadrant working inthe U.K. (except northern Ireland).and thier families.

 The aim of the credit union is to encourage members to save and give them access to borrowing at reasonable rates of interest. Every Credit Union has a volunteer board. (Maximum number 15). It is their role to set policy and ensure the credit union is operating within legislation.

The past ten years have seen the membership of the Credit Union grow to 1,500 in 1995 and now over 4000.

We have now been granted a Version 2 status and a Common Bond that allows all Royal Mail Group Employees( Royal Mail, Parcelforce, Post Office Counters, Romec, Quadrant and Cashco) and family members in the United Kingdom (except N.I.) to join.