General FAQs

1) What is a Credit Union?

Since 1964, credit unions have existed to provide loanssavings and other financial services to their members on a not-for-profit basis.

2) How is a Credit Union different to a bank?

Unlike a bank, a credit union doesn't operate to generate a profit - any surplus funds earned are used to pay running costs and provide benefits such as dividends on savings for their members.

Our members are our owners and have one share each in the Credit Union.

We believe that credit unions provide a credible and responsible alternative for loans and savings. Focusing on what people can afford, we put our members in control of their finances and encourage them to accumulate savings that improve their financial well-being.

3) Are my savings safe?

Credit Unions are authorised by the Financial Conduct Authority and the Prudential Regulation Authority. Savings from individuals and small organisations (such as businesses and charities) are protected by the Financial Services Compensation Scheme.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website or call 0800 678 1100.

4) Is my business kept private?

Yes. Everyone at the credit union with access to members personal data must act confidentially at all times. We observe the Data Protection Act 2018 (GDPR) and use the personal data you have supplied in strict compliance with our Privacy Policy.

5) What is the AGM?

We hold a Annual General Meeting (AGM) for our members.

As our members are also our owners, this is their chance to hear how the Credit Union is progressing, vote on dividends, and decide who will serve on the Board of Directors.

Joining Us FAQs

1) Who can join?

To join, you must live or work within our common bond area; Carmarthenshire, Pembrokeshire or Ceredigion.

2) How do I Join?

You can join us online or at a branch. If you have any questions, or want to talk about the application process, please feel free to contact us.

3) What ID do I need to provide to join?

Please see a list of accepted ID here.

4) How long does it take to open an account?

A five minute online form or, provided you visit with accepted ID your account with be opened during a short visit to one of our branches.

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Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

FRN: 213676. Members savings protected by the Financial Services Compensation Scheme. Members of the Financial Ombudsman Scheme.