MEDEN MONEY TREE CREDIT UNION
Have You Joined Yet?
If not, you could be missing out on a great opportunity to:

· Save regularly · Borrow when you need to · Pay a reasonable interest rate on loans · Repay early without penalties · Get free life insurance · Get your children saving · Keep money in the local economy · Be part of a community enterprise

Money lending is BIG business, companies can't wait to lend you money. Even the department stores and mail order catalogues offer loans and every other TV ad these days seems to be from a loan company. So who takes up these offers? Usually those who can least afford it!

WHAT'S SO DIFFERENT ABOUT THE CREDIT UNION?
The Credit Union is run not for profit or charity but for service in the community. Credit Unions care about members because they are run by members.

HOW DOES IT WORK?
Members save and form a pool of savings from which low cost loans are made. Interest from loans is paid back into the Credit Union. The amount you can borrow is linked to the amount you have in savings.

WHAT ARE THE BENEFITS?
A local friendly service
Save from as little as £1 per week
No credit checks are made
Low cost loans at a fixed rate of just 1% calculated monthly on the reducing balance
There are no set up fees
No minimum amounts on loans
No credit checks, you build up your own credit rating by saving regularly
Free life insurance on savings for the under 80's
Free life insurance on loans for the under 70's - in the event of your death your loan will be written off
The opportunity to contribute to the pool of money available for loans to others

WHO CAN JOIN?
Members of a community credit union are linked by a "common bond." In the case of Meden Money Tree Credit Union the common bond is "living or working in the Warsop and Shirebrook area." This also includes the outlying villages of Meden Vale, Church Warsop, Cuckney, Norton, Warsop Vale, Sookholme, Nether Langwith and Langwith.

HOW DO I JOIN?
Complete an application form and nomination form.
Take them to one of the collection points.
Produce 3 forms of identification. (including one showing your date of birth, one showing your address and one showing your signature) eg, passport, utility bill, driving licence etc.
Pay a one-off joining fee of £1.00 (except Junior members) and a minimum deposit of £1.00 to start your savings account
Your passbook will be posted to you within a few days unless you request to pick it up at a collection point.

YOUR KIDS CAN JOIN TOO
Junior membership is open to all under sixteen who meet the requirements of the common bond.
One proof of identity for the child showing date of birth is required.
Junior Members do not pay a membership or entrance fee
The accounts of Junior Members will be transferred to the full Credit Union on the child's 16th Birthday. No loans may be given until the member is 18.
The full Junior Members Policy is available to read on the Junior Application form.

HOW DO I MAKE PAYMENTS?
By cash or cheque at one of the collection points.
By standing order from your bank account

WHERE CAN I JOIN?
Regular collection points are held on:
Wednesdays at The Healthy Living Centre Patchwork Row, Shirebrook 9.15 to 11.30am
Thursdays at The Town Hall, Church Street, Warsop 9.30 am to 12 noon
Saturdays at Age Concern Office High Street, Warsop 9.30 am to 12 noon

For further information contact The Credit Union Network on Freephone 0800 3891162 or leave us a message at WARSOP TOWN HALL 845858

REMEMBER! THE WAY YOU SAVE TODAY
WILL HELP YOU BORROW TOMORROW

IT'S A FACT !
Credit Unions are regulated by the Financial Services Authority so your money is as secure in a Credit Union as it is in a Bank.