Haven Credit Union began life as Pembroke Borough Credit Union in 1993, as a service for the areas of Pembroke, Monkton and Pembroke Dock.

 

In 2002 Pembroke Borough Credit Union amalgamated with the newly-formed Credit Union encompassing the extra towns of Milford Haven, Neyland, Haverfordwest and the surrounding areas.

 

Since then, Haven Credit Union, as we are now known, has grown from strength to strength, working closely with local employers, housing associations and community groups.  Our 'common bond' - the area in which we operate - now covers the whole of Pembrokeshire.

 

In addition, Haven Credit Union has a Junior Savers section, and we run Puffin Savers Clubs in schools. 

 

We are regulated by the Financial Conduct Authority and Prudential Regulation Authority

How Does it Work?

Because Credit Unions are co-operatives, they are democratically controlled and owned by their membership. As shareholders, all members have equal voting rights and an influence over Credit Union operations and service.


Haven Credit Union is managed by a Board of Directors elected from within the membership. Their role is to manage the Credit Union, to formulate policy and to ensure it is operating legally.  All our directors are volunteers.       

              

We have no paid directors and no paid shareholders!


Alongside this is our Credit Committee which assesses loan applications and monitors the accounts. A Supervisory Committee acts as internal auditors to the Credit Union, reporting to the Board of Directors and the members at the Annual General Meeting. Credit Unions are regulated by the government's Financial Conduct Authority who require an annual audit by an external Auditor.


Credit Unions do not have hidden costs - no arrangement fees and no charges for official letters, etc. No additional charges are levied over and above the 12.68% APR interest rate on loans (1% per month on the reducing balance of the loan). 


Credit Unions and community development


Credit Unions offer a real opportunity for local people to become directly involved in their local community. They are able to take part in a piece of collective action that has the potential to make a real difference to the quality of life in their local community.

Through involvement with the Credit Union, volunteers and members are able to participate democratically in an organisation which they both own and manage and which benefits their community.


We need volunteers. Can you help?


                                             Apart from our office staff,

                              Haven Credit Union is run entirely by volunteers 
                   


              In order to expand our services we need your help. 


Please contact us if you have any time to spare and would like to make

                                      a real difference in our community.