Members come together in a credit union for two main reasons:
To set up a means whereby they can save with security; and
From this fund of savings to provide loans
Savings in credit unions are referred to as shares. Saving with Plaid Cymru Credit Union couldn’t be easier. Just complete an application form and a banker’s order form and return it to the office.
Changing your monthly payment
You can save as little or as much as you like and change the amount you save or stop saving whenever it suits you. Just send for another banker’s order form if you want to change your monthly payment.
Withdrawing your shares
To withdraw shares [savings] just write a note to the office.
Dividend on Savings
At the end of each financial year the Board of Directors will propose a dividend. The amount of the dividend will depend on the surplus made by the credit union after paying expenses and any necessary transfers to Statutory Reserve Fund(s). For the Financial Year 2011-2012 the Plaid Cymru Credit Union paid 2.0% dividend to members.
All members get FREE life insurance on savings [subject to status].
Registered office: Ty'r Cymry, 11 Gordon Road, Cardiff, CF24 3AJ