Plaid Cymru Credit Union

Run by members for the benefit of members

Savings                Loans               Ethical                Friendly

Ty'r Cymry,

11 Gordon Road,

Caerdydd, CF24 3AJ


T: 029 2049 1888   


We are open:  

Tuesday & Friday

10:30am - 3:30pm


E-mail address is post@ucpccu.org or ucpccul@btconnect.com and the website can be accessed at www.ucpccu.org


Regular updates are now posted on the site and all forms can be downloaded from the site.

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Frequently asked questions

1. What is a Credit Union?

A Credit Union is a mutual financial co-operative, which provides a convenient savings and low cost loan service to its members.

It is owned, operated and controlled by the members on the principle of one member one vote. (No giant shareholders or proxy votes in this organisation.) It offers people the opportunity to have more control over their own financial affairs by making their money work for them and their community.

2. Who does a credit union serve?

Each Credit Union serves a particular group of people. The Plaid Cymru Credit Union serves Plaid members and their families.

3. Why do people come together in a credit union?

The Credit Union helps its members by providing convenient savings and loan facilities. The collective savings of the members provide the means of granting loans to those members who need to borrow.

4. How do members benefit?

Credit Unions are non-profit making, so after paying expenses and providing for all reserves, all surpluses are returned to members in the form of dividends.

5. Do you want people who want to borrow?

Credit Unions encourage their members to take out loans when the need arises. Full member participation is essential to a successful credit union.

Members all save regularly so that the pool of money provides enough for each member in their time of need. To save and not to borrow, to borrow and not to save is to misunderstand the purpose of a Credit Union.

6. What are the credit union’s loan rates?

Credit Unions are not set up to make profits, so they never have to vary their low interest rates. Whatever the rate of inflation or bank rate the Credit Union has only one rate: 1% per month on the outstanding loan balance (12.68% APR).

What is the cost of a £100 loan repaid over 12 months? The total you have to pay the Credit Union is £106.56 (there are no hidden extras with a Credit Union)

7. How are funds protected?

The funds are protected in a number of ways.

Every person who handles Credit Union money is surety bonded – note UCPCCU only deals in banker’s orders, postal orders or banker’s orders i.e. no cash.

Quarterly & Annual Returns have to be submitted to the Financial Services Authority.

The Credit Unions’ own Supervisory Officer / Committee inspect & examine their affairs on a regular basis

Reserves are set up to protect the Credit Union.

An approved Auditor who is a fully qualified accountant audits the books every year

8. Is my business private in the credit union?

Yes, all officers, and indeed all volunteers must sign, and are bound by, a declaration of secrecy.

9. Do you give free Life Insurance cover on Loans & Savings?

Yes, practically all loans are covered by Life Insurance at no extra cost to the member. If you die owing the Credit Union a loan the debt is wiped out. Your family does not have to repay the loan.

The shares (savings) of members earn Life Insurance without extra cost. Each pound saved is matched with a pound of Life Insurance. If you had £500 in shares and you died, your family could receive £1000.

There are a few exceptions – between the ages of 70 & 80 the benefits start to decrease.

10. Who controls a credit union?

The members own & control the Credit Union. The members attend an Annual General Meeting & vote for their fellow members to serve on the Board of Directors, Credit Committee & Supervisory Committee. There are no wages for these volunteers

11. How do I join?

If you are already a member of Plaid Cymru, start by filling in an application form and a banker’s order form. These are obtainable from the UCPCCU office. There is a one-off membership fee of £1. When your entrance fee is paid and you have purchased your first £1 share [savings] you are a member.

At any time you you can alter or stop your savings bankers order.

12. Can I get involved?

Most definitely, You can make a difference to UCPCCU by getting involved in the every day running of organisation. Every encouragement and opportunity is given to members to serve & volunteer for various committees & duties.

13. Who’s on the Committees?

Board of Directors

Chair: Colin Gregory; General Secretary: Stuart Fisher; Treasurer: Jim Criddle; Malcolm Parker; Colin Mann;

Credit Committee : Malcolm Parker; Stuart Fisher; 1 Vacancy

Supervisory Officer : Alan Jobbins

Money Laundering Officer: Colin Gregory

Compliance Officer & Complaints Officer: Colin Gregory

Advisor, IT & Publications: Tony Couch

14. Who are the Auditors?

Ross & Williams, Unit 4, Ynys Bridge Court, Gwaelod y Garth, Cardiff.

15. Where’s the Plaid Cymru Credit Union office?

Ty'r Cymry, 11 Gordon Road, Cardiff, CF24 3AJ

Opening hours: Tuesday & Friday 10:30am - 3:30pm

Tel: 029 2049 1888 [after hours answering machine]

E-mail: post@ucpccu.org

16. What’s the present financial picture?

As of September 30th 2012 [End of the Financial Year]

Members: 505 members
Shares: £320,982
Loans: £211,803
Bank accounts: £170,566

17. Who are the members?

A cross section of the party including 5 AMs, 2 MPs, 1 MEP.

18. New members?

Members of Plaid Cymru –The Party of Wales or members of his/her family. Application forms from the UCPCCU office. Forms can be sent by e-mail but must be returned by post.


Back to list of frequently asked questions

Frequently asked questions

1. What is a Credit Union?

2. Who does a credit union serve?

3. Why do people come together in a credit union?

4. How do members benefit?

5. Do you want people who want to borrow?

6. What are the credit union’s loan rates?

7. How are funds protected?

8. Is my business private in the credit union?

9. Do you give free Life Insurance cover on Loans & Savings?

10. Who controls a credit union?

11. How do I join?

12. Can I get involved?

13. Who’s on the Committees?

14. Who are the Auditors?

15. Where’s the Plaid Cymru Credit Union office?

16. What’s the present financial picture?

17. Who are the members?

18. New members?

Registered office: Ty'r Cymry, 11 Gordon Road, Cardiff, CF24 3AJ

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