FAQs

Here's a list of our Frequently Asked Questions organised by category. If your question is not listed, please submit a question via email info@mtbcu.org.uk or call us on 01685 377888

Warning: Late repayment can cause you serious money problems. For help with your account please contact our team on 01685 377888, email info@mtbcu.org.uk or visit www.mtbcu.org.uk 

For financial advice visit www.moneyhelper.org.uk

Our maximum unsecured loan is £15,000. You can apply to borrow as much or as little as you need.

Yes, when you apply for membership with us, you can apply for a loan at the same time.

We usually process applications within 3 working days, as long as we receive the relevant uploaded/emailed documents.

You will be contacted by text message to let you know the decision of your application.

If you work for one of our MoneyWorks partners, just join the Credit Union on our app/online or paper copy in our office.

If you want to apply for a loan you can do this at the same time as applying for membership on our app/online*

*t&c 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.

We offer a range of loans to suit everyone's needs including Standard, Debt Consolidation, Family, Homeowner and Secured.

As part of loan agreement with us and to help our Members improve their financial resilience loan repayment's include Attached Savings. These savings are held against your loan until its repaid, and used to loan out to other Members.

You can withdraw your savings

  • Calling into the office (139 High Street, Merthyr Tydfil)

  • Via our App/website; by selecting share withdrawals

  • Via email info@mtbcu.org.uk, we will need your Membership number, amount you wish to withdraw and the last 4 digits of the bank account you want your savings paid into.

A minimum of £2.00 needs to be kept in your account to keep it open.

Choose from Standing order, bank transfer, cash at our office or collection point, benefit payments.

Or, why not save directly through your salary through Payroll Savings.

Yes, your savings are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS). *

*t&c apply

You can join via the App/website or by calling to our office at 139 High Street, Merthyr Tydfil

Our App is available in the Apple Store and Google Play Store https://mtbcu.org.uk/services/mobile-app

As a not-for-profit organisation, any profit we make is given back to our members in the way of a dividend; if approved by our members at our AGM, or used to grow the Credit Union.

We know that this is never an easy time, so our priority is to keep things as simple and as straightforward as possible.

To let us know about a credit union member who has passed away, the next of kin or beneficiary of the account should contact us by any one of the following methods:-

Call 01685 377888, our lines are open Monday – Friday between 9.30am – 2.30pm.

Email info@mtbcu.org.uk with details of the member who has passed away and include your phone number.

Call into the office to inform us about the person who has passed away.

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)

  • 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

You will need a PIN to log into your account, along with your membership number.

Call the office on 01685 377888 to register for online access, you will then be sent a PIN number via text.

  • Call the office on 01685 377888 to request a PIN, you will then be sent a PIN number via text.