Why join a Credit Union?

When you join a credit union you become a member of a worldwide group of financial cooperatives dedicated to improving the financial wellbeing of millions of people.

In Wales, we have 18 credit unions, providing a place for members to save and get loans at reasonable rates.

As an ethical alternative to high street banks or doorstep lenders, credit unions put you – the members – at the very heart of everything we do.

Credit Unions are member-owned and democratically run which means your voice will be heard in the running of the organisation.

You can vote at the Annual General Meeting and help make decisions about the services available because you get to say what’s important to you.  As a member you can also apply to volunteer with your credit union or be elected to serve on committees and a credit union’s Board of Directors.

As there are no third-party shareholders, credit unions also pass any surplus profits made directly back to you, our members, via an annual dividend.

Savings accounts allow you to save small or large amounts whenever you can.

Your savings are safe and secure, and guaranteed up to £85,000. They are also benefitting the wider community because they are being used to make loans available for other members.

When you need a loan, you will find credit unions do things differently.

Our staff are financially sympathetic and take the time to understand your individual circumstances, not just your credit score. What’s more, the interest rate advertised, is the one you will receive if your loan is approved.

Interest is charged on the reducing balance of the loan and you can pay it back in different ways, including directly from your salary if your employer is a payroll partner with a credit union.

Free life insurance is usually included at no extra cost and there are no hidden charges or penalties for repaying the loan early.

Interested in joining a credit union? You will find details on the Find My Nearest Credit Union Office page.

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Are you looking to save money on the weekly shop? Learn how this mum feeds her family for just 97p a head and still manages to serve up eight hearty meals like shepherd’s pie, casserole and meatballs for her husband and children every week. https://t.co/A0TS4M7tAR @DailyMirror

We had some great news coverage of our #SavingChristmas survey which was released on #icuday. Cambrian Credit Union were one of many Welsh credit unions to put on the festive cheer for their members https://t.co/78GcFEo9SU @cambriancredu

Yng Nghymru, mae gennym 17 o undebau credyd gan ddarparu lle i’r aelodau arbed a chael benthyciadau ar gyfraddau rhesymol. Mae undebau credyd yn eich rhoi chi – yr aelodau – wrth galon popeth a wnawn https://t.co/X1wXWR5F6D #undebcredyd #credydigymru


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