Current page: http://www.madeleyparishcouncil.gov.uk/print/comm-credit.html
The Madeley, Woodside and Sutton Hill Credit Union (MWS) is a non-profit making co-operative run by local volunteers. It offers a convenient saving system to young and old and low cost loans to its adult members.
Anyone who lives in the parish (Madeley, Woodside, and Sutton Hill).
Everyone who joins the Credit Union is a co-owner and has a say in how it operates.
Yes! - everyone who handles the money or writes up the books has to be insured by law. In the event of dishonesty or robbery members' money would not be lost.
All volunteers must sign a declaration of secrecy to keep members' information confidential.
As little or as much as you wish. To qualify for a loan you must save regularly for about ten weeks. You can then apply for a loan which is based on your level of savings. Loan repayments are based on what you can afford to repay while still saving at the same time.
Any adult member (subject to the conditions of previous item).
Call in at the Credit Union office at Jubilee House (top of Madeley High Street), pay your membership fee of £2. You must also pay a minimum of £1 in savings (called shares).
Yes! - children can join and save at any age.
Members themselves on a voluntary basis. Training is informal and fun; anyone can do it. You learn new skills, make new friends and at the same time help your community.
It's an easy and convenient way to save. It's a cheaper way to borrow, offering low-cost loans. You get free life insurance on your saving.
If you were to die your loan would be paid off and your saving doubled at no extra cost. This is subject to eligibility. The person whom you nominate when you join will receive your savings and insurance benefit.
There's no catch, joining will give you, your family, friends and community real benefits.
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