A message to members

Thursday 23rd Apr, 2020

Credit Union Update

Dear Member,

In just a few short weeks many aspects of our lives whether personal, professional or financial have been impacted by the coronavirus crisis. 

We are all asking questions to which no one has the answers, and this brings us worry, anxiety and stress. 

It's at times like this that we need to know that there are some things on which we can continue to rely and here at your Credit Union we want to be one of those things. 

Whilst our site offices remain closed, Credit Unions have been designated as essential services and all of our services remain available to members digitally.  

Staff remain safe and well and working remotely to support you. 

Not only are we remaining open, but we have been working hard to improve our services to allow you to access them 24/7 through new technology. 

You can now apply for membership, for savings and for loans online at any time through our website at www.firstratecu.co.uk 

You can access our members’ area to check your account balances or make withdrawal requests at your own convenience. 

Through our collaboration with Nivo, we have introduced a mobile communications app. Fully secure and encrypted to banking standards, the app brings us cutting edge chat technology, biometric ID verification, secure document transfers and open banking technology right in the palm of your hand. 

Finally, we have set up a virtual call centre, so for those times when you absolutely need to speak with someone you can still call us on a new central number 01772 920118

Your money is safe and your credit union is open for business as usual, albeit in a slightly different way. 

You can keep up to date with all developments by following our social media pages on FaceBook, Twitter and Linked In 

First Rate Credit Union has been here for BAE Systems people for the past 38 years, we are here for you now and we are here for your future. 

Stay safe,  stay well and we will see you soon.


Mike Barry 
Operations Manager 



You may wish to:


We have partnered with Nivo to provide you with a safe mobile chat option with bank grade security and encryption.


 Loan Payments

Loan repayments still fall due as usual however we have received a number of requests for help from those who have been affected by the current situation.

We want to help our members as much as possible however we are a not-for-profit company and do not have access to the government funds that other lenders or employers have.

This means that we need you to help us to help you.

We can't offer a blanket policy of loan payment breaks but what we can do is;

1. Ask you to look first at the formal help made available by government. So talk to your mortgage company, commercial lenders, landlords and employers to get a full idea of what your financial situation will be. If you still need help after doing that, get back to us and let us know what you actually need. Martin Lewis has put together a great guide to the help available and how to get it here;  LOAN HELP

2. We are creating a COVID Support loan product with a deferred first payment date for those who need funds to get them through the next few weeks. You can make loan applications here

 For the latest information from the NHS in relation to the Coronavirus, please visit the NHS website at the link below


Should there be any impact on credit union operations, we will provide updated information on our website and social media channels

Share This Story

Next Post: The Drive to Digital

fscs living wage

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 213241
© 2016 First Rate Credit Union

Sitemap / Terms & Conditions / Privacy