The Fairbanking Foundation announces NHS Credit Union as first credit union to be awarded its Savings Account Mark

Monday 15 January 2024

NHS Credit Union have become the first credit union to be awarded the Fairbanking Foundation’s 3-Star Fairbanking Mark for its “Regular Savings Account”.

The Fairbanking Mark is awarded by the Fairbanking Foundation following a rigorous assessment which includes independent research involving the customers or members of a financial services provider. To receive the Fairbanking Mark, this research must confirm that customers have changed their financial behaviour for the better.

Ruth Dorman, Chief Executive of NHS Credit Union said: “We are delighted to be recognised as the first ever credit union to achieve the Fairbanking Mark for our Savings Product. Through the hard work, dedication and determination of the Board of Directors and staff team we continually strive to provide our members and their families with a safe and ethical home for their saving and borrowing needs ensuring we deliver on ‘People not Profit’. To place our Fairbanking Savings Award alongside our Fairbanking Award for our loan products is a very proud moment and further emphasises our aim to improve the financial well-being of our members”.

David Coe, CEO of the Fairbanking Foundation said: ‘We heartily congratulate NHS Credit Union for being the first credit union to receive a Fairbanking Mark for a savings account and this represents a real landmark in the certification of credit unions’ products. Technology limitations mean this is currently a 3-star rating, but we look forward to upgrading this as technology provides further consumer features and benefits.”

The NHS Credit Union have also had reason to celebrate recently after being shortlisted for two awards in this year’s Consumer Credit Awards; Best Credit Union (North) and Healthy Culture Champion Award.