Welcome to Merthyr Tydfil Borough Credit Union
Who are we?
In 1998, the community of Merthyr Tydfil needed a way to tackle issues such as social and financial exclusion. Together they found a way to prevent the community becoming victims ofloan sharks (unlicensed lenders) and together established Merthyr Tydfil Borough Credit Union (MTBCU). Unlike banks, we’re owned and controlled by our members and encourage all members to have their say on how the Credit Union should be run.
Every year, we host an AGM and elect voluntary board members, who set aside their time to help run our Credit Union. Alongside our Voluntary Board, we have a team of professional staff who are employed to ensure the Credit Union runs smoothly day-to-day.
We also have over 50 local volunteers, who help run our services in the community meaning we’re never too far away!
How do we work?
Our values are to provide the community with safe, convenient savings and affordable loans and pride ourselves on offering everyone a fair deal regardless to your financial background. When a member deposits money into savings, these are then used to make loans for other Credit Union members. Any profits that are made from our financial year, is shared equally to our members by way of dividend.
Who can join?
Our services are available to those living within the Borough of, Merthyr Tydfil, Carephilly, Bleanau Gwent and Rhondda Cynon Taff.
Our principal partner and supporter is the Welsh Government. Since 2000 it has committed to supporting Credit Unions in Wales.
Merthyr CU also have a number of key partners who supports the work of the credit union by promoting our services such as: allowing us to operate from their premises, promoting Payroll Deduction to staff and local residents and encouraging schools to open savings clubs.We also work with a range of community and voluntary organisations across the Borough.
If you would like to get involved with the Credit Union to promote any of our work with staff, tenants or local residents then please do not hesitate to contacts us to arrange a meeting.