Alternatives to payday loans

If you're on a low income, receiving welfare benefits, or have been turned down for a loan by a high street bank you may have thought of taking out a payday loan or considering other high-risk options such as loan sharks.


Credit unions can offer a better alternative with loans at much lower interest rates. They are financial co-operatives owned and controlled by their members. They offer savings and great value loans plus they are local, ethical and know what their members want.

Credit unions

Money Spider Credit Union

46/48 Grove Street
Swadlincote
DE11 9DD

Tel: 01283 214434
email: services@moneyspidecu.org.uk
Web: www.moneyspidercu.org.uk (opens in a new window)
Area covered: South Derbyshire and Burton on Trent

Derbyshire Community Bank (trading name for Erewash Credit Union)

Phoenix Street
Derby
DE1 2ER

Branches at Long Eaton, Ripley and Alfreton

Check opening times and location (opens in a new window).

Tel: 01332 348144
email: info@dcbank.org.uk
web: www.dcbank.org.uk (opens in a new window)
Area covered: Derbyshire

Chesterfield and North-East Derbyshire Derbyshire Credit Union

4-6 Soresby Street
Chesterfield
S40 1JN

Tel: 01246 278833
email: webmail@cnedcu.co.uk
Web: www.cnedcu.co.uk (opens in a new window)
Area covered: Chesterfield and North East Derbyshire

2 Shires Credit Union

Queen's Buildings Annex
Potter Street
Worksop
S80 2AE

Tel: 01909 500575
email: info@2shires.org.uk
Web: www.2shires.org.uk (opens in a new window)
Area covered: Bolsover with local opening times in Bolsover, Creswell, Clowne, Shirebrook and South Normanton (telephone for details)

Manchester Credit Union

Suites 17 and 18
First Floor
Building No. 2
Universal Square
Devonshire Street
Manchester
M12 6JH

Tel: 0161 231 5222
email: info@manchestercreditunion.co.uk
Web: www.manchestercreditunion.co.uk (opens in a new window)
Area covered: High Peak. There are local contact points in Gamesley, Fairfield in Buxton and Glossop (see website for details)