Credit Unions are rapidly growing as they encourage people to get into the habit of saving.
The Council is supporting the move as part of its efforts to work with partner agencies across the city to mitigate the effects of welfare reform and to steer people away from relying on payday loans.
Credit Unions are not-for-profit financial co-operatives providing a range of financial services to members. They are managed and controlled by their members and are covered by the financial services compensation scheme.
The unions have a wide range of members but for them to grow more members are needed.