Question 1

What is Dragonsavers Credit Union?

Accepted Answer

Dragonsavers Credit Union is a community-focused credit union serving the Rhondda Cynon Taff region of Wales, United Kingdom. As a member-owned financial cooperative, it provides ethical savings and loan services to individuals living or working in Wales. With approximately 3,272 members, Dragonsavers operates as part of the wider Welsh credit union movement and is a member of the Association of British Credit Unions (ABCUL).

The credit union emphasizes financial inclusion and community support, offering affordable loans and savings products with member benefits including annual dividends and free life insurance coverage.

Question 2

When was Dragonsavers Credit Union founded?

Accepted Answer

[Information not publicly available]

Question 3

Where is Dragonsavers Credit Union headquartered?

Accepted Answer

Dragonsavers Credit Union is headquartered at 107 Bute Street, Treorchy, CF42 6AU, in Rhondda Cynon Taff, Wales. The credit union operates with regular office hours Monday through Friday, providing in-person services to its local community.

Question 4

Where does Dragonsavers Credit Union operate?

Accepted Answer

Dragonsavers Credit Union primarily operates throughout Rhondda Cynon Taff in South Wales. The credit union serves individuals who live or work anywhere in Wales, as well as family members of existing members who share the same household.

The organization has established partnerships with 10 organizations across Rhondda Cynon Taff, enabling payroll deduction services for employees of these partner employers.

Question 5

What services does Dragonsavers Credit Union offer?

Accepted Answer

Dragonsavers Credit Union offers a comprehensive range of savings and lending products. Savings services include instant access savings accounts with a minimum deposit of £1, junior deposit accounts for under-18s, and community accounts for businesses, clubs, and charities.

Lending services feature quick access payroll loans up to £500, any-purpose member loans up to £15,000, and secured loans against savings at favorable interest rates. Members receive free life insurance on the first £5,000 of savings or loans for members under 80 years old.

Digital services include web-based account access for checking balances, making withdrawal requests, and applying for loans online. Members can also access Smartcash interactive cards through partner Engage.

Additional benefits include annual dividend payments on savings, a £5 member referral scheme, discounted leisure center access in Rhondda Cynon Taff, and payroll deduction facilities for partner employers.

Question 6

What makes Dragonsavers Credit Union unique?

Accepted Answer

Dragonsavers Credit Union distinguishes itself through its strong community partnerships and accessible financial services. The credit union has established payroll partnership agreements with 10 organizations across Rhondda Cynon Taff, enabling employees to save and repay loans directly from their salary through automatic deductions.

The organization participates in the Money Smart Partnership with Rhondda Housing and Rhondda Taff Citizens Advice Bureau, offering free workshop-style courses to help residents manage their money effectively. Dragonsavers also provides unique community benefits such as discounted access to local leisure centers and an unlimited member referral scheme that supports both individual members and local groups in fundraising efforts.

The credit union's emphasis on financial inclusion is evident in its low minimum savings requirement of just £1 and its willingness to work with members based on their individual circumstances rather than purely credit scores.

Question 7

What type of financial institution is Dragonsavers Credit Union?

Accepted Answer

Dragonsavers Credit Union is a credit union - a member-owned financial cooperative authorized and regulated by the Prudential Regulation Authority (PRA) in the United Kingdom. It operates under FRN number 213320 and registration number 128C.

As a credit union, Dragonsavers functions as a mutual financial institution where members pool their savings to provide affordable loans to one another. It has no external shareholders and operates on a not-for-profit basis, with any surplus returned to members through annual dividends. This cooperative structure aligns with the credit union philosophy of self-help and community financial support that has been growing in Wales and across the UK since the Credit Union Act of 1979.

Dragonsavers Credit Union

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About Dragonsavers Credit Union in the United Kingdom

Dragon­savers Credit Union