Benarty and Lochgelly Credit Union

Contact details
Address: 11 Benarty Square, Ballingry, Lochgelly KY5 8NR
Telephone: 01592 868800
E-mail: [email protected]
Website: not yet available.
OfficeMonday09:00 - 12:45
Tuesday09:00 - 11:45
Wednesday10:30 - 13:45
Thursday18:00 - 20:30
Friday16:00 - 18:45
Collection Points
Lochgelly CentreMonday09:15 - 10:45
Benarty Primary SchoolWednesday09:00 - 10:00
St. Patrick's Primary School, LochgellyThursday10:00 - 11:00
St. Bernard's Primary School, BallingryFriday10:30 - 11:30
Lochgelly High SchoolFriday10:00 - 10:30

History and Information
Benarty & Lochgelly Credit Union is a "not for profit" financial co-operative owned and controlled by individual members resident within the Benarty & Lochgelly area of Central Fife. The aim of the organisation is to increase people's access to accessible savings and low-cost loans.

Benarty and Lochgelly Credit Union is the oldest in Fife. Since its inception in October 1989, the organisation has become well established within the ex-mining area of Benarty and Lochgelly. Their volunteers, staff and Directors are committed to providing a vital service to the community affected by high unemployment and multiple deprivation.

Benarty & Lochgelly is run and supported by a pool of committed volunteers from a variety of backgrounds who bring with them a range of key skills including management, leadership and finance. A number of these volunteers also serve as board members. They also employ 2 members of staff (one full-time equivalent).

There is little, or no economic investment in the area of B&LCU's common bond and many local people are either reliant on benefits or are from low-income households. Many are caught in a poverty trap or denied bank accounts or loans. Usury is a serious issue and individuals are often at considerable risk of falling prey to money-lenders or financial services offering loans at vastly inflated interest rates. B&LCU offer a local, unthreatening alternative to usury.

Common Bond (Who can join)
B&LCU's common bond area consists of the ex-mining villages of Ballingry, Lochore, Crosshill, Glencraig and Lochgelly, with a total population of approximately 17,000.

Their membership currently exceeds 2,000 and there is considerable scope for growth.