What is a credit union common bond?

One of the requirements of a credit unions is that members have something in common with one another, this is known as a ‘common bond’.

Credit unions are run democratically and in the interests of those people who use their services and fall within the remit of their common bond. This helps to reflect the fact that credit unions are organisations run for the benefit of its members with a social connection.

Membership of a credit union can be governed in several ways. Here in Wales, our credit unions have a common bond based on geography – where people live and/ or work. Other credit unions have a common bond based on work occupation, sector etc. Some credit unions also allow membership to individuals who live in the same household as a member and fall within one of the categories of the common bond. It is the responsibility of the credit union to produce a membership rule that meets their requirements which is why the common bond is an essential part of the legislation governing the financial cooperative.

There may be a credit union in you area that are not part of Credit Unions of Wales – Click here to find you nearest branch

Got any questions? Please get in touch.

ABOUT US
Find my nearest credit union.
Blaenau Gwent
Brecon
Bridgend
Caerphilly
Cardiff
Carmarthenshire
Ceredigion
Conwy
Cynon Valley
Denbighshire
Flintshire
Gwynedd
Isle of Anglesey
Merthyr Tydfil
Monmouthshire
Neath Port Talbot
Newport
Pembrokeshire
Powys
Rhondda Cynon Taff
Swansea
Torfaen
Vale of Glamorgan
West Glamorgan
Wrexham
Show all
Credit union name:
Office or online:
CUW member:*
Blaenau Gwent
Office and Online Services
Yes
Office and Online Services
No
Brecon
Office and Online Services
Yes
Office and Online Services
No
Bridgend
Office and Online Services
Yes
Caerphilly
Office and Online Services
Yes
Office and Online Services
No
Cardiff
Office and Online Services
Yes
Carmarthenshire
Office and Online Services
Yes
Ceredigion
Office and Online Services
Yes
Conwy
Office and Online Services
Yes
Cynon Valley
Office and Online Services
No
Denbighshire
Office and Online Services
Yes
Flintshire
Office and Online Services
Yes
Gwynedd
Office and Online Services
Yes
Isle of Anglesey
Office and Online Services
Yes
Merthyr Tydfil
Office and Online Services
Yes
Monmouthshire
Office and Online Services
Yes
Neath Port Talbot
Office and Online Services
No
Newport
Office and Online Services
Yes
Pembrokeshire
Office and Online Services
Yes
Powys
Office and Online Services
Yes
Office and Online Services
No
Rhondda Cynon Taff
Office and Online Services
Yes
Swansea
Office and Online Services
No
Torfaen
Office and Online Services
Yes
Vale of Glamorgan
Office and Online Services
Yes
West Glamorgan
Office and Online Services
Yes
Wrexham
Office and Online Services
Yes