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This page will have answers to common questions as well as links to associations to provide additional information on Credit
Union services.
What is a Credit Union? A Credit Union is a not for profit financial organisation owned and operated by its members. Members pool their savings and it is from this pool of funds loans are made to each other, Can anyone join Dalmuir Credit Union? Anyone who lives or works in the district of West Dunbartonshire, known in Credit Union terms as the common bond.
What is a common bond?
A common bond is link all members have in common, such as living or working in a certain district or place.
Who is in charge of the Credit Union?
The Credit Union is owned by all members. At the AGM the membership elect the Board of Directors who then set the
policies and procedures by which the Credit Union operate.
When can I apply for a loan?
Members have the right to make application at any time, provided all membership criteria have been met. All applications
shall be monitored and assessed on the ability to repay and will be considered by a loan officer or the Credit Committee.
How much interest will I pay?
With a loan from your credit union there are no hidden costs. APR is 12.68% calculated at 1% per month on
the reducing balance, there is no penalty for repaying your loan early.
I don't want a loan can I take out my shares?
Yes, shares are withdrawable at any time provided that they are not pledged as security for a loan.
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