The Credit Union for Taunton Deane and West Somerset

Moorvale C/O Taunton YMCA Lisieux Way Taunton TA1 2LB FSA Number 213935 Phone: 01823 336425 We are not manned full-time but are open to receive payments on Fridays 11-12.  Interviews for loans can be arranged at the same time, please telephone in advance.  If no answer, please leave a message and we will get back to you. Email: moorvale@fsmail.net Collection Points These are where the credit union service comes to your community. You can join, save and organise your account here.             Current Opening Times Locations and times do change, so please contact the office on 01823 336425 for up-to-date information. Taunton Priorswood Resource Centre Halcon Baptist Church Norton Fitzwarren Village Hall YMCA, Lisieux Way Wellington Bulford Community Centre Wiveliscombe Community House Stawley School Minehead The Avenue Methodist Church Watchet Little Vikings Centre Williton Children's Centre   Savings                                                                                             Home Why save with Moorvale? Savings with Moorvale are secure and guaranteed repayable; they enable Moorvale to invest in loans for the benefit of people in the local community.  We do not risk our members's savings in the financial markets. The maximum shareholding for an individual is £10,000.  What is the difference between savings and shares? Very little.  Savings are held as shares upon which a dividend is paid each year.  The rate is decided at the Annual General Meeting (AGM).  All shareholders can attend and vote at the AGM.  In order to have a loan you must have, and keep, enough shares in Moorvale. How are my savings used? Savings deposits are used in several ways.  Some is lent out to members who have also saved, some is held in reserve funds, which also provides an income from bank interest. How can I pay into my savings? Payments can be made in person at collection points.  Many pay by bank standing order from a current account, or by payroll deduction, where the employer deducts an agreed amount from pay and pays it directly to Moorvale.  Payments can be split between savings and loan repayments. Keeping track of savings Members receive statements at least three times a year.  These show all transactions during the credit union's financial year which starts in October.  Members who pay in at a collection point will be given a receipt to check against their next statement.  Some members use passbooks to keep track of their savings and loans but these are are no longer issued to new members. Back to Home Page