28 June 2012
The union has launched the scheme for its members and their families as an alternative to profit-hungry banks and financial organisations that charge high interest on loans and do not have savers' and borrowers' interests at heart.
There will be a launch event for the credit union at the union's headquarters in London on Wednesday 4 July.
PCS assistant general secretary Chris Baugh said: "While shocking, the latest scandal in the banking world comes as no surprise.
"Credit unions like ours offer an alternative to the profit-hungry banks whose executives live in a different world to the rest of us."