Antonine Credit Union

Antonine Credit Union is a member-owned credit union serving people who live or work in the North Lanarkshire area. It offers savings accounts, junior saver accounts for children and loans to members. Membership is open to anyone aged 16 or over who resides or works in North Lanarkshire, or who lives in the same household as someone who does¹.

When you open your account you need to bring or deposit £10¹. Members are recommended to save at least £1 per month¹. A member's collective savings balance is not permitted to exceed £15,000 under the credit union's terms and conditions².

Savings with Antonine Credit Union are covered by the Financial Services Compensation Scheme (FSCS)². Anyone aged 16 or over opening a savings account becomes a member³. Credit unions are required by law to maintain an insurance policy to protect the credit union and its members against fraud or theft².

Savings accounts and loans at Antonine Credit Union

Antonine Credit Union offers a savings account that members can open online⁶. You can make deposits by setting up a standing order, using a bank transfer or paying in cash over the counter in the office⁶. Share withdrawals over £250 are paid into a member's nominated bank account⁶.

Credit unions generally offer savings accounts and loans, and services vary by branch⁷. Some also offer foreign exchange, prepaid debit cards and, at some, current accounts⁷. At Antonine, the core offer is savings and loans. Members' savings are used to fund loans to other credit-worthy members⁸, which is how the credit union model works: the money you save helps other members borrow, and the interest on those loans helps fund the credit union.

To get a loan from a credit union you must be a member⁹. Some credit unions will ask you to build up savings first¹⁰. Credit unions allow you to borrow at least twice more than you have saved once you have been a member for a certain length of time¹¹. That is a typical market figure, not a rate specific to Antonine Credit Union. For today's rates and terms, check the credit union's own website.

For more on how these products work across the sector, see credit unions: a complete guide, savings accounts: a complete guide and loans: a complete guide.

Junior savers accounts for children

Anyone up to the age of 15 can open a Junior Savers Account with Antonine Credit Union¹. Anyone aged 16 or over who opens a savings account becomes a member¹.

Junior savings accounts are common across the credit union sector. One UK credit union offers junior accounts from birth up to the age of 16¹². Another caters to children from birth until their 16th birthday¹³. Some credit unions let parents open savings accounts for children under the age of 16⁹. The idea is to encourage early savings habits¹³.

If you are opening an account for a child, the credit union will tell you what identification is needed for the child and for you as the adult opening it. The same FSCS protection applies to the child's savings as to any other eligible deposit, up to the applicable limit per eligible person.

How the annual fee and minimum balances work

It also requires members to have a minimum share balance of £5 to keep their account active¹. When opening your account, you need to bring or deposit £10¹.

These are the credit union's own membership terms, not a market-wide standard. Other credit unions set their own fees and minimums. The amounts vary because each credit union is independent and sets its own terms.

The minimum share balance of £5 is the amount you need to keep in your account for it to remain active. If your balance falls below that, the credit union may treat the account differently, so it is worth checking the terms.

Who can join: living or working in North Lanarkshire

Membership to Antonine Credit Union is open to everyone who resides or works in the North Lanarkshire area, or lives in the same household as someone who does¹. This is the credit union's "common bond", the link that connects its members.

Credit unions are built around a common bond, which can be based on where you live, where you work or another shared connection⁹. You need to have a common bond to open an account with a credit union⁹. Other credit unions use different bonds: one requires you to live or work in a specific postcode area¹⁴, another requires you to live or work in a particular county¹⁵.

Family members living at the same address can usually join if one family member meets the common bond and has joined¹⁶. So if you live with someone who already qualifies, you may be able to join on that basis even if you do not personally live or work in North Lanarkshire.

If you move out of the area, the common bond test applies at the point of joining. Your existing membership is not automatically affected by a move, but it is worth asking the credit union directly if your circumstances change.

How to open an account and what ID to bring

To join Antonine Credit Union, you complete an application form, provide the required ID and visit the office when it is open to finish the application process. No appointment is needed. You then deposit funds¹.

You will need at least one of the following as proof of identity: passport, driving licence, Scottish Government bus pass, birth certificate or Young Scot card¹. The credit union asks for at least one of these documents¹.

The process is similar at other credit unions. One asks you to fill out a membership application form online or visit to get started¹³. Another asks you to click "Join Us" and follow the instructions, with a valid driving licence or passport required¹⁵. More generally, you need to visit or call your chosen credit union to confirm what information you need to join¹².

For current accounts more broadly, you will usually need ID to prove your identity, such as a driving licence, passport, recent bills or official documents¹⁷. Credit unions normally use manual checks to decide whether to lend, and you usually will not have to pass a credit check, even if you apply for an overdraft¹⁸.

From Croy and Kilsyth to Antonine: what the name change means for members

Antonine Credit Union was previously named Croy and Kilsyth Credit Union Limited⁵. The name change reflects the credit union's wider North Lanarkshire common bond. It appears on the Bank of England (PRA) list of credit unions incorporated in the UK as Antonine Credit Union Limited, FRN 213818¹⁹.

For members, a name change of this kind does not change the terms of your accounts, your savings or your loans. Your membership continues, your FSCS protection continues, and your account details remain the same. The credit union's website is www.antoninecu.co.uk⁵.

If you are looking for the credit union under its old name, it now operates as Antonine Credit Union. The FCA Register entry lists the previous name so you can confirm it is the same organisation⁵.

How the credit union is run by its members

Antonine Credit Union is governed by a Board of Directors, who are elected by the membership at the Annual General Meeting (AGM)². It uses professionally qualified external auditors to perform an annual inspection of the credit union's business and report to the membership at the AGM each year².

This is how credit unions work across the sector. Each member has one vote, and volunteer directors are elected from the membership, by the membership¹². Credit unions are run in a "not for profit" way¹⁶. As a member you have a say in how your financial service provider is run²⁰. The aim is to help members in need of financial support⁹.

Credit unions are required by law to maintain an insurance policy to protect the credit union and its members against fraud or theft². Antonine Credit Union is governed by a Board of Directors, who are elected by the membership at Annual General Meeting (AGM)².

Making a complaint and taking it to the Financial Ombudsman

If you have a complaint that Antonine Credit Union cannot resolve, you can forward it to the Financial Ombudsman Service within 6 months of receiving the credit union's final response letter². If no final response has been provided within an 8 week period from the date of your initial complaint, you are then eligible to contact the Financial Ombudsman Service².

The Financial Ombudsman Service is free to use. Before bringing a complaint to it, a formal complaint to the company involved comes first. If they do not send you a final response letter within eight weeks, or you are unhappy with their response, you can bring the complaint to the ombudsman³. You fill in the ombudsman's complaint form²¹. A case handler is assigned to investigate and may ask for more information²².

Credit union complaints can be taken to the free Financial Ombudsman Service if you are unhappy with the final response or the timeframe has passed¹⁸. Under the Consumer Credit Act 2006 there are rights to complain to the Financial Ombudsman Service about how your lender treated you²³.

If you are unhappy with the service you have received from a claims company, for example the results of your claim or the fees they have charged you, you can complain to the Financial Ombudsman Service²⁴. You can complain to the Financial Ombudsman Service about something a credit-repair company has done²⁵.

How your savings are protected by the FSCS

Antonine Credit Union is covered by the Financial Services Compensation Scheme (FSCS)². Your eligible deposits with Antonine Credit Union are protected up to a total of £120,000⁴. The credit union states that your savings up to £85,000 are protected and safe⁶.

The FSCS protects up to £120,000 in total across all accounts you hold with the credit union for individual account holders²⁷. The FSCS will assume that the money in a joint account is split equally between account holders, unless evidence shows otherwise²⁸. This means coverage of £240,000 in total for a joint account with a partner²⁹.

For a joint account held by two eligible depositors, the maximum amount that could be claimed would be £120,000 each, making a total of £240,000⁴.

Credit union savings are protected by the Financial Services Compensation Scheme¹⁶. All shares (savings) in an affiliated credit union are eligible for protection under the FSCS⁸. Savings are protected by the FSCS at other credit unions too⁹. Credit insurance is not eligible for FSCS protection³¹.

You can check whether your money is protected using the FSCS protection checker³⁰. The FSCS protection tool assumes a joint account with two account holders, each with an equal share³⁰.