We offer many different savings accounts, these are outlined below:
- Share Account – A simple savings account that is held by all of our members. You can pay in as little or as much as you wish and providing your savings are not secured by a loan, you can withdraw funds whenever you wish. (A minimum of £2 must be kept in your share account at all times for it to remain open)
- Christmas Savings Account – Wanting a Debt Free Christmas?
Start taking the right steps, by opening a Christmas Savings Account with us.
We only allow you to withdraw money from this account on the 1st November until the 31st December. Meaning that you won’t be tempted to spend the money on something else!
- Rainy Day Account - If you want to save for that special occasion then this is the account for you. You can pay in as much or as little as you wish and you choose if you want this account "Locked". Members often use this account for Holidays, Weddings and in some cases to leave a sum for funeral expenses.
- Prize Linked Savings Account - Our prize linked savings accounts give you the chance to win money simply by saving. £1 you save, is 1 entry into our prize draw. Where you can have the chance of winning £5,000 per month! You can withdraw money at anytime too, giving you the freedom to save. This is a pilot scheme run by HMRC and we are the only Credit Union in Wales to be offering this scheme.
Wondering what is Attached Savings?
We ask everyone who borrows from us, to also save a small amount into your Attached Savings Account. This is because; Credit Unions use member’s savings to lend to other members.
How can you pay into your account?
You can pay into your account through a standing order, which you can set up via your online banking, payroll or through cash in our office or at service points.
What is Payroll?
Payroll is automatic savings. A chosen sum of money will be placed from your pay into your secure Credit Union account every time you get paid.
There are lots of employers that are a part of our scheme, such as:
Merthyr Valleys Homes, Merthyr Housing Association, MTIB, Welsh Government, Merthyr Tydfil County Borough Council, NHS Cwm Taf University Health Board, JNP Legal, Tydfil Training, and Merthyr Tydfil Leisure Trust.
If you are an employer who would like further information about offering Payroll Deduction to your staff, click here https://www.mtbcu.org.uk/payroll-deduction-scheme.php