How To …

How To join

Anyone over the age of 18 who lives or works within the County of Gloucestershire can apply for membership to Gloucestershire Credit Union Ltd. Under 18′s are not members but can have a Junior Saver account.

You will need £10.00 to open an account

  • £5.00 joining fee (not applicable to Junior Savers)
  • £5.00 to remain in your share account in order to keep the account open

You can join online here or the application form can be downloaded here.

If you join using the application form you will need to provide

  • Proof of your identity. The following photographic ID are acceptable:
    • a valid passport
    • a new style driving license
    • a national identity card

If no photographic ID is available then please contact us to discuss what alternative documents we can accept.

  • Proof of your address such as
    • a counterpart or old style driving license
    • a utility bill or bank statement
    • a Council Tax or benefits letter

Any correspondence should be originals and dated within the last three months

How soon and how much can I borrow?

You can apply for a loan as soon as you join, but if you save regularly for 13 weeks then you will pay less interest. The size of the loan will depend on the amount you have saved, how much you need, what you can afford to repay, and will be linked to our rules on lending.

The loans committee will endeavour to respond to applications for a loan within three working days of the application being received at the office together with the required supporting documents. Before the loans committee can make a decision about whether to grant a loan they may require further information from you. Once a loan has been approved you will need to sign a loan agreement before we can release the funds.

We recommend that you apply for a loan at least one week before you think you will the money.

How do I save?

You can deposit money into your account by transferring funds, (either as a one-off payment or a regular standing order), to our account with Unity Trust Bank:-

  • Account name: Gloucestershire Credit Union
  • Account number: 20278618
  • Sort code: 60-83-01

We use your membership number to identify deposits and credit them to your account so it is essential that you include your membership number in the payment reference; if you do not do this we may not be able to credit the money to your account. Please contact the office if you need to check your membership number.

You can also deposit cash or cheques (payable to Gloucestershire Credit Union) at one of our service points. There is a limit on cash deposits at collections to a maximum of £500 at any one time. Under regulations to prevent fraud and money laundering we have a responsibility to identify the source of deposits, so please do not be offended if our cashiers ask you where your money came from.

How do I withdraw my savings?

You can withdraw your savings at anytime. As long as you leave at least £1 in your account you can still save with GCU. All withdrawals from your savings will be paid by transfer to a bank account or Engage Visa card. We regret that we are unable to pay withdrawals as cash.

Requests to withdraw money from your savings can be made using our withdrawal form, or by telephone if you have nominated a bank account to receive payments. Please contact the office if you wish to nominate a bank account to receive payments.

All withdrawal requests received before 1pm on a working day (Monday to Friday) will be processed on the same day

  • transfers up to £250 to your Engage Visa card will be paid before 3pm on the same day,
  • transfers over £250 to Engage cards or any transfers to bank accounts will be paid on the next working day.

If we receive a withdrawal request after 1pm we will be unable to process it until the following working day.

How do I request a statement?

Call or email the office, or ask at your local collection point, and we will get a statement sent to you by post or email.