Membership Terms and Conditions

Cambrian Credit Union Ltd
Membership Share and Loans Terms And Conditions

This agreement contains important information about your membership of Cambrian Credit Union Ltd, (CCU). It explains our obligations to you and your obligations to us. A large print version of this leaflet is available on request.

Your agreement with us is contained within these terms and conditions, together with any additional terms and conditions that are specific to a particular account or facility. Details of any additional terms will be provided to you on applying for the relevant account or service.

In this agreement, “you” and “your” mean any member operating an account with us and include, (where appropriate), any person you authorise to give instructions on your accounts. “We”, “us” and “our” refer to Cambrian Ltd.

We may use the term 'Shares' to refer to savings deposits you hold with CCU. As the credit union is a democratic organisation, it is said to be buying shares when making deposits. Members of the credit union have the same rights regardless of their shareholding (savings balance).

In this agreement, working days means Monday to Friday, except public holidays.

1 Section One - General Terms

1.1 Membership

Membership of CCU is open to anyone either living or working in
To become a full Adult Member of CCU, you must be at least 16 years of
CCU offers Junior Membership to young people under the age of 16. At the end of the month when a Junior Member achieves the age of 16, they are automatically transferred to Adult Membership provided that they do not hold a child trust fund account when they will be eligible for Adult Membership once they have reached the age of 18 years.
CCU also offers Corporate Please ask for details of organisations that qualify for this type of membership.
On applying to become a member of CCU, we will require proof of your identity and evidence of your current address. We will conduct an online identity check as part of your Please note that this is an identity check only and not a credit check. We may require you to provide additional documentation.
We have the right to decline to accept your money or your application to open an account with
A copy of the Cambrian Rule Book is available on our website.

1.2 Deposits

Deposits may be made by the following methods;
1. Standing Order or manual electronic transfer from a bank
2. Payroll Deduction, (only available at participating employers).
3. Electronic transfer from a third party, (i.e. salary or benefits payments).
Standing Orders will generally be credited to your credit union account within one working day after the payment has been received from your bank or building society account, provided the membership number has been quoted.
Under the new banking system, faster payments credits will be allocated to your share account, by the close of the following working day.

Deposits made by Payroll Deduction may take some time to reach your account(s) due to the time taken by some employers to notify us of deductions made. You will be notified of the estimated time scale when you sign up for Payroll Deduction. Your accounts will only be credited once the Credit Union has received the money from your employer.

Please ensure that you include your membership number, surname and initial as a reference on any payments that you arrange to send to us. Failure to include this reference may result in a delay in the payment being allocated to your Credit Union account.

1.3 Disbursements

CCU uses the term 'disbursements' to refer to the issuing of share withdrawals and loan
Disbursements can be issued using the following methods;
1. Electronic transfer to your bank account by close of business that same day, if instructions have been received by 4pm Monday to Friday on a working day.
From time to time, you will be notified of the maximum withdrawal limits for each type of account that we provide, and the notice period required for such withdrawals. Notification will be put on our website. You may also check current withdrawal limits by telephoning the Credit Union office.
The maximum disbursement available by electronic payment is £25,000 per For amounts over this limit, multiple transactions will be required.
Loan disbursements will be issued only upon receipt of a Loan Agreement Form, signed by the
All disbursements are subject to the availability of funds in your CCU account(s).
You may nominate a bank account to receive electronic disbursements remotely, by providing the bank name, branch, sort code and account number(s). We will only accept nominations for an account in your own name.
You cannot cancel a disbursement made by BACS to a third party after we have processed your You will be liable for any charges incurred by the credit union in attempting to cancel an instruction made by you.
CCU reserves the right to stop any disbursements on your Share Account(s) in the event of you being in arrears on a loan with the credit union.
In normal circumstances you have instant access to your shares, however in extraordinary circumstances; CCU reserves the right to require a maximum of 60 days’ notice of

1.4 Charges

An annual service fee of £5.00 will be deducted from your Share 1 account on the anniversary of joining. We reserve the right to waive or change our service fee from time to
You will be liable for all charges incurred by CCU in recovering any debt owed by you to the credit union that has fallen into default.

1.5 Accessing Account Information

You can access account information via the online services (website or app) at any time. You will receive a Statement of Account from CCU at least annually, showing recent transactions on your Share 1 account.
You can request a statement on your other accounts at any
You may request a regular balance of your Accounts be sent to you via email or by accessing your Online services (via website or App).
You may check your balances at any time by telephoning us during office opening
To access account information through CCU's website or app, (cambriancu.com). You will need to register and obtain a PIN number through the website or by phoning us, prior to being able to access your account details.
You should tell us, as soon as possible, if you believe that your statement or account balance includes something you believe to be incorrect or not made in accordance with your
We will rectify any incorrect entries on your account as soon as possible after you tell us about them or we notice them.
Before providing any information about your account, either in person or over the telephone, we will follow our standard security procedures, in order that we are satisfied with your identity.
These procedures will include such steps as verifying your full name, address details, date of birth, account password etc.
We may not be able to assist you if we decide that we are unable to identify you using our security

1.6 Dividends

Any dividend shall be declared on all full shares held during the preceding financial year. New members joining CCU will be entitled to a proportional part of the dividend on any shares held for less than the full year on every full month of membership.
The credit union's financial year runs from October 1st to September
Dividends shall be paid to those in membership of CCU on the date that the dividend is declared at the credit union’s Annual General Meeting. Each 'share' account that you have with CCU will be eligible to receive dividend payments.
Any dividend declared by CCU will be credited to your account(s) on the date the declaration is agreed at the credit union's Annual General Meeting.
Dividends will be credited to your account(s) gross, that is without deduction of It is your responsibility to notify Her Majesty's Revenue and Customs (HMRC) of any such receipt.
CCU has to send an annual return to HMRC for members who receive in excess of £250 dividend in total per annum. This amount may vary at the discretion of HMRC.

1.7 Miscellaneous

We can act on instructions, where they are given;
1. In writing, including your original signature, (or that of an authorised third party);
2. Verbally, where you, (or your authorised third party), have satisfied our security
When using credit union services, we require that you treat our staff and other members with respect and If you breach this requirement, we reserve the right to close your account in accordance with the Rules of the Credit Union.
We may use any contact details you provide to us for service-related reasons. Statements of Account and other general information about CCU will be sent to your home address unless you tell us otherwise.
It is your responsibility to notify us of any changes to your contact We will continue to send information to you at the last known address that we have for you. If you do not inform us promptly of any changes to your details, the security of your personal information could be put at risk.
You can authorise another person to operate your account(s). You will need to sign a third-party mandate in respect of those account(s). If you authorise another person to operate your account(s) then you will be responsible for their actions or omissions as if they were your own.
You may make transfers between your credit union Such transfers will normally be actioned on the day we receive your instructions.
If there is no activity on your account in a twelve-month period, we may make your membership
The maximum total amount that you may save in your CCU account(s) is £85,000.
We may, at our discretion, vary or add to our Terms and Variations or additions will be to reflect a change in;
1. Market conditions;
2. The cost of our providing our services to you;
3. Technology, or our facilities and/or services;
4. Good credit union practice;
5. The
Except for changes in any interest We will give you at least 30 days’ notice of any variation or addition to our Terms and Conditions. We may give you notice by post; email, placing a notice on our website; or advertising in one or more local newspapers.

2 Accounts

2.1 Share 1 Account

Each new Adult Member of CCU will automatically have a Share 1 Account and a Regular Saver Account opened in their
All Adult Members must maintain a Share 1 Account if they have any other type of account or loan with us.
Your first deposit into your Share 1 Account should be at least £5.
The minimum required balance in the Share 1 Account is £5 at all
If the minimum level is not obtained within six months, CCU will close the
You may close your Share 1 Account at any time, (subject to the conditions in term 3.1.7), by completing a Closure of Account request. In extraordinary circumstances, CCU reserves the right to require a maximum of 60 days’ notice of the account Please note that closing your Share 1 Account will end your membership of CCU.

2.2 Christmas Saver Account

A member can open a Christmas Saver Account at any time by completing the relevant application

Withdrawal can only be made between our first working day in October and the last working day before Christmas, subject to the notice periods in operation at the time.

3 Borrowing From Cambrian

3.1 General Information

You must be a member of CCU before you can take out a
You must be aged 18 or over to borrow from
CCU will, from time to time, decide on the maximum size of loan that it will You should check the maximum amount before making a loan application.
The maximum repayment period for CCU loans is seven The actual maximum repayment period will vary according to the type and size of loan that you apply for.
CCU may decide to conduct a Credit Reference Agency, (CRA), search in connection with your loan application. If this occurs, the CRA will record details of the application on your credit report. This will form part of your credit history whether or not you proceed; and if you make several applications for credit within a short period of time, this may temporarily affect your ability to obtain credit.

Full details of how Credit Reference Agencies may use your information are available separately.

If the loan is declined, wherever possible we will give an indication as to why, and where appropriate, direct you to an organisation that can help with your finances.
Before you can end your membership of CCU, all outstanding loans must be paid off in

3.2 Interest Charges

The maximum interest rate that CCU may charge on your loan account is 6% Annual Percentage Rate (APR). The actual interest rate charged by CCU varies according to the loan agreed.
Interest is calculated daily on the reducing balance of your

3.3 Defaults

We may use any balances held in your saving account(s) to reduce or repay any loan held by you that falls into default. We will attempt to notify you beforehand and give you the opportunity to make the necessary repayments.
We may share details of how you manage your borrowing from us with If you fail to respond to default notices sent by CCU, we may register the default with the CRAs. The registration of a default notice may affect your ability to obtain further credit.
CCU will take all necessary steps, including legal action, to recover loans in If you fail to respond to default notices sent by CCU, we may pass the loan to a debt recovery agency.

4 About Us

Cambrian Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, with the Firm Reference Number 213672.

Our members’ savings are protected under the terms of the Financial Services Compensation Scheme (FSCS). This guarantees 100% of the first £120,000 you saved with us.

The registered office of Cambrian Credit Union Ltd is North Wales Business Park, Commodore House, Cae Eithin, Abergele, LL22 8LJ.

5 Complaints

We aim to provide our members with a first-class service. However, we appreciate that mistakes can happen and we therefore welcome the opportunity to put things right. We will investigate your concerns as quickly as possible, and take steps to rectify the situation and, where appropriate, prevent a recurrence.

Please allow our Operations Manager the first opportunity to address your concerns.

However, if you remain dissatisfied, a full copy of our complaints policy and procedure is available on request. You may also be able to refer your complaint to the Financial Ombudsman Service (FOS), once the credit union has had the opportunity to respond to your complaint.

6 Data Protection Statement

6.1 How We Use Your Personal Information

Cambrian Credit Union is the controller of the personal information that we hold about you. We process your personal information in accordance with the UK General Data Protection Regulation, the Data Protection Act 2018 as amended, including amendments made by the Data (Use and Access) Act 2025, and other applicable data-protection and privacy legislation.

Our full Privacy Notice, available at www.cambriancu.com, explains in more detail what information we collect, the lawful basis on which we use it, how long we retain it, who we share it with and how you can exercise your rights.

We may use your personal information to:

Assess and process applications for membership, savings accounts, loans and other services;
Verify your identity, address and eligibility for membership;
Administer your membership, accounts, payments, loans and other services that we provide to you;
Assess affordability, creditworthiness and financial risk, make lending decisions and manage our lending relationship with you;
Obtain and use information from credit reference agencies, fraud prevention agencies and identity-verification providers;
Consider information relating to joint applicants, guarantors or financial associates where this is relevant to an application or account. We will not treat another person as financially associated with you merely because they live at the same address;
Prevent and detect fraud, money laundering, terrorist financing and other financial crime;
Conduction sanctions screening; regulatory checks, debt tracing, arrears management and debt recovery;
Meet our legal and regulatory obligations including reporting to the Financial Conduct Authority, Prudential Regulation Authority and other competent authorities;
Manage operational, financial and regulatory risk, carry out statistical analysis and service improvements;
Provide information about products and services that may be relevant to you, where permitted by law.

Depending on the particular purpose, we may rely on the performance of a contract, compliance with a legal obligation, our legitimate interests or your consent. Where we rely on legitimate interests, we will consider and balance those interests against your rights and interests.

You may object to the use of your personal information for direct marketing at any time. You can do this using the unsubscribe facility included in the communication or using the details below. There is no charge for opting out. An objection to marketing will not prevent us from sending necessary account service, legal or regulatory communications.

6.2 Sharing Your Personal Information

Where necessary and lawful, we may share your personal information with:

Organisations providing services to is, including information technology, payment, communication, document management, identity verification and data storage providers;
Credit reference agencies and fraud prevention agencies
Insurers, professional advisers, auditors and organisations providing services or benefits connected with your membership or accounts;
Debt recovery agents, tracing agents, solicitors and courts where this is necessary to manage or recover a debt;
The Financial Conduct Authority, Prudential Regulation Authority, Financial Ombudsman Service, law enforcement agencies, government bodies and other competent authorities; and
Other persons where you have authorised the disclosure or where disclosure is required or permitted by law.

Where another organisation processes personal information on our behalf, we require it to protect the information and only use it for the agreed purposes. If personal information is transferred outside of the United Kingdom, the applicable safeguards will be explained in our Privacy Notice.

The credit reference agencies that we use, and information about how they use and share personal information, are identified in our Privacy Notice. You can also as us which credit reference agencies were used in connection with your application or account.

6.3 Your Data Protection Rights

Depending on the circumstances, you may have the right to:

Request access to your personal information;
Ask us to correct inaccurate or incomplete information;
Request erasure or restriction of processing;
Object to certain processing, including direct marketing;
Receive certain information in a portable format;
Withdraw consent where processing is based on consent; and
Request human intervention or challenge a decision where a legally or similarly significant decision has been made solely by automated means.

These rights are not absolute and may be subject to conditions, restrictions or exemptions under data protection law.

6.4 Subject Access Requests

You have the right to ask whether we process personal information about you and to receive a copy of that information together with the supplementary information required by law. This is known as a subject access request.

A subject access request can be made verbally or in writing and does not need to use any particular wording. We may ask for information that is reasonably necessary to confirm your identity or, where someone is acting for you, their authority to do so.

We will respond without undue delay and normally within one month of receiving a valid request and any reasonably required identity or authority information. We may extend the response period by up to a further two months where permitted by law, including where a request is complex or a number of requests have been made. We will tell you if an extension is necessary and explain the reason.

Where we hold a large amount of information and reasonably require clarification to identify the information or processing activities covered by your request, we may ask you for further information. The applicable response period may be paused while we await the necessary clarification.

We are required to undertake reasonable and proportionate searches for relevant information. Subject access requests are normally free of charge. We may only charge a reasonable administrative fee or refuse to act where the law permits this, including where a request is manifestly unfounded or excessive or where further copies are requested.

You can obtain information held about your financial standing directly from the relevant credit reference agencies free of charge.

6.5 Data Protection Complaints

If you are concerned about how we have collected, used, shared or otherwise handled your personal information, you may make a data protection complaint to us by email, phone or post.

We will acknowledge a data protection complaint within 30 days of receiving it. We will take appropriate steps to investigate and respond, keep you informed where appropriate, and tell you the outcome without undue delay.

You also have the right to complain to the Information Commissioner’s Office. We would normally welcome the opportunity to consider and resolve your concerns before you contact the Information Commissioner’s Office.