Credit Union Account

We offer a package of banking services specifically for community credit unions.

Free day-to-day banking*

If you’re eligible for an account, you won’t pay a monthly fee*.

Instant access to funds

As long as cleared funds are available.

Easy to manage account

Simple withdrawals, Direct Debits or standing orders.

How to open a Credit Union Account

You’ll need to call us to open an account. 

If your annual turnover is less than £3m, call us on 0800 056 0056. 

If your annual turnover is more than £3m, call us on 0345 072 5555. 

Am I eligible?

To apply for a Credit Union Account, you will:

  • Be an approved credit union
  • Use the account for business only

Please see our Terms and Conditions for other important information.

Switching to us is easy

The Current Account Switch Service makes switching current accounts from one UK bank or building society to another simple, reliable and stress-free. It is available to consumers, businesses, charities and trusts, and allows you to choose a switch date that suits you.

A note about rates and charges

A note about rates and charges

We won’t charge you a monthly fee to use your Credit Union Account. But you might have to pay for some specific services.  

Additional Services Account Charges & Processing Times (PDF, 1.6MB)

Other products you might be interested in

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Accounting software

Try it free for 3 months

Connect Business Finance Assistant to your business accounts to predict cash flow, submit digital VAT returns and much more.

Business Finance Assistant
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Taking card payments

From card readers to online payments

We can help you accept card payments online, over the phone or face to face, no matter the size of your business.

Lloyds Bank Cardnet®

Further resources

Financial Services Compensation Scheme

Eligible deposits with Lloyds Bank plc are protected up to a total of £85,000. Due to eligibility criteria, not all business customers will be covered.

More about FSCS

Other useful links

*We apply a specialist tariff on our Credit Union Account. Our specialist tariff is provided free of charge, however charges for CHAPS, International Payments, Online Channels and other service charges apply.

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.