Banks may be at the heart of the global recession but Bristol people still need somewhere to leave their money safely and, perhaps, get a loan to tide them over.

If you don't trust the familiar high street banks or building societies, though, where do you turn for help?

People in Bristol are increasingly turning to credit unions. They are fair, provide many of the same services and have little if any exposure to the debt crisis that has crippled larger financial institutions.

What is more, credit unions say they are "ethical" investors. With Bristol Credit Union, by lending to members – all of whom live or work in Bristol – it is pumping money back into the city.

Five community credit unions and one for Bristol City Council workers were brought together as the Bristol Credit Union in 2005 and 2006.

"Economies of scale and shared management costs are helping us develop a more sustainable social enterprise," said a spokesman.

"Expansion into areas of the city previously unserved is increasing access to financial services for those who previously had none, including further areas recognised as having high levels of social and financial exclusion such as Southmead."

With 4,000 members, the union is about to launch a new current account for people who already have a bank account but are not satisfied with the servic they get.

"Our mission is to provide affordable and accessible financial services for everybody in Bristol," chief executive James Berry told the Post. "But we have core market niches. One is people who want to invest, by lending to local people, in the future of Bristol.

"Another is people who are either fed up of the service they are getting from their bank – for instance, expensive charges – or people who may have had problems trying to get a bank account in the first place.

"It could be that they have a poor credit rating. They may have had problems in the past. The banks may have turned them down on the basis of a computer model that looks at probabilities.

"We deal with people face to face. They can come to us to talk about their personal situations. They may have had a relationship break down or a county court ruling against them. We would want to see that they are making some payments to try and pay off any debts that have built up."

Bristol Credit Union provides many of the services a normal bank offers, such as a debit card and loans. But profits, or surpluses, go back into the business.

The union does not have to look over its shoulder to see what shareholders think of its decisions. There aren't any.

This is a co-operative, owned by its members, in much the same way as the building societies used to be. Members can even look forward to a dividend.

"Bristol Credit Union aims to be a community anchor for the city, providing fair financial services for all the people of Bristol, and offering competitive, viable alternative financial provision for member benefit and not for private profit," said a spokesman.