your local, ethical
credit union
owned by our members &
run for our members’ benefit
What We Do
MCCU provides simple savings and affordable loans to people who live and/or work in Mendip. We are run entirely by volunteers who take a real pride in going the extra mile to provide a fantastic service - while much of our activity is carried out online, we also provide the option of meeting up face to face.
We know that life is not always straightforward and we are always understanding when our members come to us with problems (financial and otherwise). We aim to offer the best possible deal for our members - for example, there are no penalties for paying off your loan early, renegotiating your repayments or overpaying.
Borrow From Us
We provide loans for a multitide of purposes including household equipment & improvements, car repairs, holidays, school uniforms and much more. If you can demonstrate that you can afford the repayments, a poor credit history won’t exclude you.
Save With Us
Everyone feels more secure when we have a few pounds saved for that ‘rainy day’. There’s no lower limit on the amount you can save… and saving regularly with us demonstrates that you can afford to repay a loan should you ever need to borrow.
Join Us
Membership is open to anyone who lives or works in the Mendip area of Somerset. Members are signed up at our service points so you’ll get a chance to meet one of our volunteers who will talk you through the process and explain the benefits of membership.
What Is A Credit Union?
Credit Unions are member-owned, not-for-personal-profit financial cooperatives that provide savings, loans and other financial services to their members. Credit Union membership is based on a common bond between savers and borrowers - in the case of MCCU, members must live and/or work in Mendip. Credit Unions use their members’ savings to lend to other members, rather than relying on outside capital. So our members benefit from higher returns on savings, lower interest rates on loans and no fees (other than an admin fee of £1 per year).
About MCCU
We’re owned by our members, all of whom have an equal vote in the running of the credit union. This means that we we make decisions and run the organisation in the best interests of our members and not external shareholders, so more money stays in Mendip!
Volunteer
As a not-for-personal-profit organisation we rely on the help and support of our volunteers. Volunteering is not only a great way to learn new skills and gain valuable experience but it enables you to help others in your community achieve greater financial security.
Helpful Info
We know how hard it can be to make ends meet so if we see an idea which can help you to budget or save money we add it on our website so you can make use of it. If you have any hints or tips please let us know - we’d love to share them.