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Benefits of Membership

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Quality Service

You can always be assured of  professional, ethical financial services from BDS Credit Union.

 

All members share in the success of our Credit Union.

 

There are no hidden transaction fees for saving with us or borrowing money. 

Flexible & Convenient Loans

Members can take out flexible loans 12 weeks after joining, and settle on affordable repayments. All our loans are fully insured (for free), against disability or death. Conditions apply*

Members will also receive an annual loan interest rebate.

Dividend on Savings 

Every year we pay an attractive dividend on members savings, which are also placed in our Life Insurance scheme, offering a free insurance system.

The dividend rate will be declared at the AGM based on our annual surplus and any dividends are paid into shares after the AGM. 

Membership Requirements

To become a member, you will need to ensure you live or work within our common bond.

             

If you’re not sure contact us, let us know your address and we can confirm your eligibility. 

BDS Credit Union common bond area

In accordance with Anti-Money Laundering legislation, strict procedures apply in relation to the documents which are required to verify the identification of people wishing to join BDS Credit Union.

 

Therefore we will also require the following...

Photographic Identification

One of the following: 

 

  • Passport 

  • Photocard driving licence/provisional licence 

  • Electoral identity card 

  • Smart-pass 

Nomination

Members must nominate at least one person and state their current address. In the event of a member’s death, all funds including insurances will be made payable to the nominee(s). Members can name more than one nominee and can change their nominee at any time. 

Minor Membership (16 & under)

  • Account must be opened by one parent or guardian. 

  • Free membership and minimum of £5 Deposits 

  • Proof of photographic ID & proof of address – parent to satisfy this as stated above 

  • Birth certificate or valid passport for a Minor 

 

On their 16th birthday, minors will transfer to adult membership. We will notify you by letter of the procedure. 

Address Verification

One of the following: 

 

  • Current utility bill 

  • Current bank statement 

  • Tenancy Agreement 

 

The above documents must be dated within the last 3 months 

Fees and Minimum Opening Balance 

£1 membership fee & £5 minimum shares. 

 

Annual affiliation fee, declared at AGM 

Change of Details

Members can update their details with the Credit Union at any time. 

  • A valid proof of address must be provided in order to change the address. 

  • Name changes require a marriage certificate, adoption certificate or deed poll documents.