Credit Unions provide a convenient and secure way of saving. Each �1 saved is the equivalent of a single share and members can save as little or as much as they choose. Savings can build up quickly once a savings habit has been established and members are encouraged to continue saving even when repaying a loan.

Greater savings held by the credit union mean greater funds available for loans to its members.

Making Deposits

Simply bring your savings (cash or cheque), and paying-in book to the Credit Union office in Milford Haven or to any of our collection points during opening hours.

An easier alternative is to save by Standing Order - if you have a Bank or Building Society account .

If you work for a local employer such as Pembrokeshire County Council, Milford Haven Port Authority or the Health Board you can also take advantage of our Payroll Deduction Scheme.


Members are free to withdraw their savings at any time, provided that the member's savings are not securing a loan.

Members are, however, encouraged to keep their savings intact. This ensures that you:

  • can continue to earn a dividend
  • maintain credit worthiness and are able to borrow
  • benefit from life insurance protection on savings


Savings are used to grant loans to members. The interest received from loans is reinvested in the credit union. Any surplus is used to build up reserves and/or to pay a dividend to members.

Junior Savers

To become a full member you must be aged 16 or above but many Credit Unions, like ourselves, operate a junior savings scheme which encourages young people to join and develop a savings habit. At the age of 16 junior members will automatically become full members but by law must wait a further two years before being eligible to apply for a loan.

Puffin Clubs

We currently operate savings clubs, called Puffin Clubs, in the following infant and junior schools:

  • Fenton Community Primary Schhol
  • Pennar Community School
  • Pembroke Dock Community School
  • Manobier Church in Wales VC School

Please get in touch if you would like to set up a Puffin Club in your school - we will provide training, resources and on-going support.

How safe is my money?

Credit Unions are regulated by the Financial Conduct Authority (FCA) and must comply with the Credit Unions Act of 1979. Each Credit Union has insurance that protects your savings against theft or fraud. In addition to this safeguard, every Credit Union must have a supervisory committee which oversees its daily activities.

All Credit Unions are supported by a national compensation scheme through the FCA which currently supports all banks and building societies. This means that you will be compensated in the unlikely event of the Credit Union going out of business, in line with the rates of the Financial Services Compensation Scheme (FSCS).


Download Membership Application Form