FAQs
A credit union is a not for profit financial co-operative owned and run by its members. Over 1 million people in the UK are members of a credit union and this is growing all the time. Credit Unions are committed to providing affordable, flexible financial services to all members of their community or profession.
Photographic ID
Current signed passport – if the passport is not UK/Irish then we will also need to see their Right to work documentation.
EEA member state identity card (which can also be used as evidence of address if it carries this).
Current UK or EEA photocard driving licence (Full and Provisional) – the address on the Driving licence must be checked against the record in Progress, if this does not match the Driving licence is not valid.
Photographic registration cards for self-employed individuals in the construction industry -CIS4
Firearms or shotgun certificate.
Residence permit issued by the Home Office to EEA nationals on sight of own country passport.
UK Citizen Card
Armed forces identity card – unexpired
Non-Photographic ID
Full old-style driving licence – not provisional
Official letter from Benefits Agency/DWP/Local Authority confirming your right to UK benefits, local benefits, UK Pension - dated within the last 12 months.
UK Student loan/ grant paperwork – dated in last 12 months
HMRC coding/assessment/statement/tax credit letter (not P45/P60) (dated within the last 12 months).
Utility bill (gas, electric, satellite television, landline phone bill or broadband bill) dated within the last six months
TV licence or confirmation of TV licence renewal letter as long as dated in the last 12 months.
Water bill dated in the last 12 months.
Local Authority council tax bill for the current council tax year – this must be the bill only not letters relating to the tax.
Current UK driving licence (but only if not used for the ID evidence)
Bank, Building Society or Credit card statement or passbook dated within the last three months.
Original mortgage statement from a recognised lender issued for the last full year.
Solicitors letter within the last three months confirming recent house purchase or land registry confirmation of address
Council or housing association rent card or tenancy agreement or Occupation Contract for the current year
Official letter from Benefits Agency/DWP/Local Authority confirming your right to UK benefits, local benefits, UK Pension - dated within the last 12 months. Only if not used as Proof of ID.
HMRC self-assessment letters or tax demand dated within the current financial year
Electoral Register entry
or
NHS Medical card or letter of confirmation from GP’s practice of registration with the surgery – note this is not appointment letters from hospital
HMRC coding/assessment/statement/tax credit letter (not P45/P60) (dated within the last 12 months) Only if not used as Proof of ID.
Letter from a Prison Governor or Probation Officer (must be on official headed paper)
UK Student loan/ grant paperwork – dated in last 12 months
For Homeless – letter from support/social worker dated in last 3 months
If we make any profit and Members voted to approve the decision at our AGM we pay an annual dividend on your savings.
That means that any profits we make are used to grow the Credit Union and are given back to the Members, not to directors or shareholders.
We offer a range of loans to suit everyone's needs including Standard, Debt Consolidation, Homeowner and Secured.
As part of loan agreement with us and to help our Members improve their financial resilience you pay Attached Savings as part of your loan repayment. These are savings held against your loan until its repaid.
Our maximum unsecured loan is £15,000. You can apply to borrow as much or as little as you need.
Yes, when you become a member you can and apply for a loan at the same time.
Choose from Standing order, Online banking, Cash at one of our branches or through our app. Or why not save directly through you salary through Payroll Savings.
You can withdraw your savings in the office via our App, our website or by emailing us at info@mtbcu.org.uk
Via email, we will need your Membership number, the amount you wish to withdraw and the last 4 digits of the bank account you want your Savings paid into.
Requests received by 3:00pm Monday-Friday will be processed the same day.
Cheques also available, ask for details*
A minimum of £2.00 needs to be kept in your account to keep it open.
We are keen to keep costs to a minimum to save Member money and help tackle climate change, therefore we limit the associated costs of sending out statements and do this only once per year.
You can check savings and loan balances on the App and website, call into the branch or call us on 01685 37788.
Yes, you can open a child’s account and save in exactly the same way. As the nominated guardian you will have full control of the account until they turn 18.
You can apply borrow as soon as you join
Life insurance is included in your Merthyr Tydfil Credit Union Membership*
*t&cs apply
How to I save or borrow from my pay?
If you work for one of our MoneyWorks partners, just join on the Credit Union App Online or paper copy, it's FREE.
If you want to save, you can start saving from the following month when you join and if you want to apply for a loan, you can do this at the same time as applying for Membership on our App or Online*
*t&cs apply
No – not unless you choose to tell them. If your repayments are coming from payroll deduction, your employer will only know that money is being sent to Merthyr Tydfil Borough Credit Union. They will not know if the money is being taken to repay a loan or to build up your savings.
