Dragon Savers credit union operates a regular collection point at Trerhondda in Ferndale. Customers can call in and apply for membership, apply for loans, make deposits and apply for withdrawals from accounts.
Members agree to save regularly into a common fund which provides low-interest loans to all who join. Interest generated from these loans goes towards administration costs. Any surplus can be returned to members as a dividend. Dragonsavers membership is available to anyone living or working within the Borough of Rhondda Cynon Taff.
There are many great reasons to join Dragonsavers:
• Free life insurance on shares and loans
• Payroll deduction facility if you work for a sponsored employer
• Deposits can be paid into your credit union account by standing order mandate
• Dividend paid on shares agreed by members at the Annual General Meeting
• Interest on loans applied on a daily basis, on the reducing balance, making your loan even cheaper - you only pay interest on what you have left to pay back
• Interest rate fixed for the duration of the loan at 6.6% approx flat rate payable on the reducing balance. (12.68% APR)
• No penalty for early repayment
• No administration or setup fees on loans
• All shares in the credit union are protected by a "fidelity bond" insurance and are covered by the Financial Services Compensation Scheme
• Check your account via our web site