FAQs

BAG Credit Union is committed to an easy and friendly way to save.

To open a savings account with us, you will first need to apply to become a member. Membership is free, and it's easy to join. If you live or work in the Bargoed, Aberbargoed, Gilfach and Upper Rymney Valley area, call in to our main office or any collection point. Just fill in an application form and present 2 forms of I.D. (one photographic and one resedential)  or you can download our Membership Application Pack or for those under 16, our Junior Savers Application Pack. Contact us for more details.

To activate your account, you must deposit at least £5.00 in the first 3 months.

We offer a number of accounts for both adults and children. See our Savings page for details to find out what account would most suit you.

A minimum of £5.00 is required to keep your account active and you can currently save up to £10,000.

Provided that you keep a minimum £5.00 in your account, you can save any amount that suits you. We request that our members save regularly with us - at least on a monthly basis.

If you have a loan with us, we will request as part of your loan condition that you continue to save.  This ensures that once your loan is repaid, you will have access to an increased sum in your savings account.

There are a number of options for making deposits, and you can choose more than one option if that suits you:

• by setting up a payroll deduction order if you work for a participating employer
• by setting up a standing order from your bank account
• by payment into our Aberbargoed office or one of our local collection points (see below for opening times)
• by Allpay card at any Paypoint outlet or Post Office

Interest on all Loans is set at a maximum of 1% per month. We do not discriminate, you do not have to be employed or own your home to apply for a Loan.

If you are not yet a member with us, you must first join by completing the application form provided by the credit union and providing us with 2 forms of identity i.e. a passport or driving license with photo ID and a utility bill with your home address on. If you cannot provide these please call the office on 01443 838605 for further information.

Once you have been a member saving regularly for 13 weeks or 3 months then you can apply for up to double your shares i.e. if you have saved £100 then you could apply for a loan of up to £200.

We welcome loan applications for any purpose, which will be assessed on an individual basis, subject to ability to repay. Loan applicants must be aged 18 or over. If you already have a loan with us, you will need to repay at least 50% of your current loan before you can apply for a top-up loan.

Yes, BAG Credit Union is a capacity based credit union, you must save for at least 13 weeks before applying for a loan with us.