1. You live or work (paid or unpaid) in post codes DD1 to DD11.
2. or, you are a tenant or an employee of a local social housing association such as Perth & Kinross Council, Fife Council, Hillcrest Group etc...
3. or, You are an employee of one of our employer partners.
4. You live with, and are related to a current Discovery Credit Union member.

Normally no ID is required as we use a Digital ID system to verify your identity.

However, on occasion, this may not occur, we may ask you for two forms of acceptable ID.

The first is to verify your name and current address.
The second is is to verify your name or date of birth.

The same document cannot be used in both instances.

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Proof of address

• Current Drivers Licence
• Council Tax Demand letter (current year)
• HMRC Notice of Current Years Tax code (current year)
• Private pension statement (current year)
• Benefit award letters (from HMRC, DWP, Council, Pension Service) *
• Bank statements*
• Credit card statements*
• Utility bill*

* Not more than 3 months old and must have been posted to stated residential address. Online printouts are not accepted.

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Proof of identification

A second document from the 'proof of address' list, or:

• Current Passport
• Birth certificate
• Police Warrant Card
• National Entitlement Card

Any document that may be easy to obtain will not be accepted. These include (but are not limited to): TV Licence, Business Cards, Bus Passes, Bank cards, Online banking statements, Online utility bills, P45

It costs just £2.50 to join your credit union and we require a minimum deposit of £5.00 to get your account started and retained in your account. We will deduct the joining fee from your first deposit.

In order to keep your account open and maintained, we charge a £3.50 administration fee which is automatically deducted from your account once a year, normally prior to the AGM.

If you are not a registered user of the Members Area and do not have a registered email address with us we will send you a statement of your savings (share) account and any loan accounts you hold at least once a year, by post, usually around the time of our AGM.

All registered users of Members Area (Web or APP) or hold a valid email address will not receive statements via post. This is in an effort to ensure Discovery Credit Union is environmentally conscious and to reduce related costs.

You are able to access a statement at anytime via the Members Area.

You are always welcome to request a statement of your savings and/or loan account at any time - please do not hesitate to contact us.

We are also happy to check your balance(s) over the phone, subject to identity confirmation.

Don't worry, you may still be able to keep your membership running if you want to. Please keep us informed (preferably in writing) of your new address if you do move so we can amend our records and stay in touch with you.

Don't worry, you may still be able to keep your membership running if you want to. Please keep us informed (preferably in writing) if you move to a new employer so we can keep our records up to date.

Yes. There are no restrictions as to how many credit unions you can join as long as you meet their membership criteria.

We are making changes to the website; improving the access to services on offer and security. Click here for more information

All the money our members save is pooled together. We then use this pool of money to make loans to members.

Yes - Credit unions are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. This is the same regulator as banks and building societies and all other providers of financial services in Britain. Members’ savings are protected by the Financial Services Compensation Scheme, which provides members the same level of protection that customers of banks and building societies enjoy.

Most standard Credit Union Savings Accounts do not earn interest in the same way as bank and building society accounts. Instead, Credit Unions return any surplus the business makes to members in the form of a dividend. The amount of dividend paid depends on how much money, if any, the Credit Union makes after covering all its running costs and transfers into reserves. The decision to pay, or not to pay, a dividend is declared each year at our Annual General Meeting (AGM). If we are able to pay a dividend, it is calculated on the level of savings (shares) held by each member.

Yes, provided your savings are not held as security against a loan or are in a Christmas Savings Account, you are able to withdraw your savings (shares) at any time - no notice is required.

You can withdraw small cash amounts in person over the counter at our Main Office, see the opening times on our Home page.

Withdrawals can be made via the Members Area (Web or APP) - there are various options available

• Faster Payments, paid same day. This attracts a £0.30 charge which covers the cost charged by the provider of this service. As these transactions are currently manually cleared and Faster Payment will be cleared during normal working hours (weekdays 09h00 - 16h00) any withdrawals made after this time will be processed on the following working day. We do not work on weekends.
• Withdrawals made without the fee, these will be made via BACS on 'next day basis' with similar terms to Faster Payments as to working hours.
• Payments can also be directed to and loaded onto your Engage card. If you have a state benefit/tax credits/pension paid into your savings account, we can offer you an Engage Prepaid Card.
  • You can use your Engage card to make withdrawals from cash machines or to pay for goods or services in shops or online (transaction fees apply).

To remain an active member of Discovery Credit Union you will need to maintain a minimum balance of £5.00 in your Regular Share Account.

If you have borrowed from us, your shares may be held as security against your loan. In such instances withdrawals will be restricted, unless the balance held in shares exceeds the current outstanding loan.

Savings are vital for each member. Savings gives you independence, peace of mind, security and borrowing powers.

Saving and putting some of your income aside for future needs is good financial management and should be a regular habit. Save as much as you can afford - this can be as little as £2 per week or £10 per month.

You can pay in cash at our main office at the Central Library, Wellgate Centre.

Alternatively you could make regular deposits via standing order or payroll deductions if your employer offers this service. You may also wish to have some or all of your benefits paid to your Discovery Credit Union account.

Standing orders are set up via your bank and should be paid to:

Discovery Credit Union Ltd
Royal Bank of Scotland

Sort Code: 83-50-00

Account: 10025151

Reference: Please ensure you quote your Name and Discovery Member Number (6 digits).

This will allow us to identify your payment on receipt and post against your account. If this is missing it will cause delays in any payments reflecting on your account.

Redirection of benefits to Discovery, you will need to contact the relevant department at either DWP or HMRC (CHB) to request this redirection.

Provided we have your NINO number on file we will be able to process these receipts to your account. Please check that we do have your NINO on file before making any changes.

Payroll deduction forms are available from our office or to download from our website.

You can make a request in 2 ways:

1. You can withdraw small cash amounts in person over the counter at our Main Office, see the opening times on our Home page.
2. Withdrawals can be made via the Members Area (Web or APP) - there are two options available

• • Faster Payments, paid same day. This attracts a £0.30 charge which covers the cost charged by the provider of this service. As these transactions are currently manually cleared and Faster Payment will be cleared during normal working hours (weekdays 09h00 - 16h00) any withdrawals made after this time will be processed on the following working day. We do not work on weekends.
  • Withdrawals made without the fee, these will be made via BACS on 'next day basis' with similar terms to Faster Payments as to working hours.

You are able to access a statement at anytime via the Members Area.

You are always welcome to request a statement of your savings and/or loan account at any time - please do not hesitate to contact us.

We are also happy to check your balance(s) over the phone, subject to identity confirmation.

If you are not a registered user of the Members Area and do not have a registered email address with us we will send you a statement of your savings (share) account and any loan accounts you hold at least once a year, by post, usually around the time of our AGM.

All registered users of Members Area (Web or APP) or hold a valid email address will not receive statements via post. This is in an effort to ensure Discovery Credit Union is environmentally conscious and to reduce related costs.

If you need to withdraw money from your savings but still wish to remain an active member and retain your membership in Discovery Credit Union, you must leave a minimum of £5 shareholding in your account.

Discovery Credit Union Limited (DCU) is a member of the Financial Services Compensation Scheme (FSCS). The FSCS will pay compensation to depositors if a credit union is unable to meet its financial obligations. Click here for more information

A Credit Union is a community of members, whose aims are to promote financial wellbeing through savings and affordable and appropriate lending. The structure and nature of a credit union frequently enables it to help those who are currently excluded from access to ordinary banking products. It can become a lifeline for people who may otherwise have to resort to payday loans or doorstep lenders which often carry incredibly high interest rates.

No - however if you are applying for a ‘Discovery’ loan on starting membership or any of our loan products including top-ups, then you need to have a minimum income of at least £100 per week.

New members are expected to save regularly for at least 9 weeks or 3 months before applying for a first loan, however Discovery Credit Union does allow for new members to borrow small amounts of money immediately on starting membership to help with an immediate need. Terms and Conditions Apply.

This will depend on your financial circumstances and the amount you have saved in your Regular Shares account.

For a first loan you can apply for up to double your savings and for any subsequent loans you can apply for up to three times your savings minus any outstanding loans currently held with Discovery Credit Union.

New or existing members who don’t yet have enough savings built up for the amount they are looking to borrow under a Standard Savers Loan are eligible to apply for a Discovery Loan. A Discovery Loan allows you to apply to borrow up to £500. Terms and Conditions Apply.

No - All loans are granted at the discretion of loan officers who operate under the Credit Policy set by the Board of Directors. This Policy is reviewed annually.

As you will have joined Discovery Credit Union and registered your account with the Members Area, you can apply for a loan via the Members Area (Web or APP). Please ensure you provide 2 month's bank statements and 2 recent wage slips or, benefit award letter and housing benefit award letter.

In the Members Area these can be uploaded to Documents, a guide on how to do this is available on the website.

You can complete a paper copy which you can either download from our website and print or ask for an application form at the main office.

Loan officers will review your income and expenditure to assess the affordability of your application and will always take into account a member’s loan history and savings record with Discovery Credit Union before a decision is taken on any loan. This is to ensure you can afford to repay what you have borrowed.

All applications are subject to our usual credit checks with a licensed credit reference agency. A poor credit history does not necessarily mean your loan will be declined as we may lend to people who have had difficulty in the past, however if the credit check reveals something you have not declared (e.g. bankruptcy, or additional creditors or balances) we will normally refuse your application.

We reserve the right to decline.

There are several reasons why your loan may be refused or reduced. Examples include:

• The loan officers feel that your budget is over stretched therefore they could offer you something less and more affordable to you.
• We find evidence of gambling that is excessive, this may include where regular gambling is in excess of the loan amount and/or is greater than a predetermined percentage of your regular income.
• You have shown irregular savings and loan repayment patterns.
• The loan officers feel that you have share loaded before applying for a loan.

This is when a member deposits large sums that are out-with their normal savings pattern, especially just before applying for a loan. This is known as share loading for the purpose of obtaining a loan.

We aim to process loan applications within 5* working days (*subject to demand) but they will be delayed if there is information missing. You will be contacted by a loan officer to inform you of the decision.

All loans are paid directly into your bank account or your Engage account the following working day after you have signed the loan agreement.

There are 4 possible methods of repayment:

• Payroll deduction (if your employer provides this service)
• Standing order from your bank
• Transfer your benefits to cover the repayments
• Cash payments at the main counter

No. The credit union provides this service to your business without charge.

No, there are no charges to employees for payroll deduction. All credit union members pay a £2.50 joining fee and they must maintain a minimum of £5 savings to remain an active member. We charge each member £3.50 annually to maintain the account.

All enquiries are dealt with by the credit union office. The employer will not process any money or account transactions. All they have to do is process the authorised payroll deductions, exchange monthly data and make a BACS funds transfer. Discovery Credit Union staff will credit employees accounts with the correct amount.

We would ask that you nominate a Workplace Champion who would identify opportunities such as staff events and meetings to promote the credit union. We will be happy to come and present to staff ourselves and provide posters and leaflets for staff areas. If you have a staff magazine or intranet we can provide information for those too.

Yes, All members will need to register their account with Members Area. This then allows full online access to Discovery Credit Union accounts.

Savings are protected by the Financial Services Compensation Scheme, currently up to £85,000 per person.

Members can pay by standing order, benefits, cash or cheque. There is no minimum savings payment, other than the £5.00 minimum balance required to maintain an account. Members can save up to a maximum of £30,000.

As a co-operative, Discovery Credit Union pays a dividend rather than interest on savings. This is a share of the profit and is determined at the end of each financial year, and is dependent on financial results and the Board's recommendation at AGM to make any dividend payment.

The employee would inform payroll if they wish to stop deductions. The employer is not liable for any overdue payments because payroll deduction is stopped. Discovery Credit Union will deal directly with the employee on anything to do with their account.

No. The contractual arrangement is between the credit union and the employee. It would be our responsibility to contact the member to make alternative payment arrangements.

Discovery Credit Union offers loans from £50 to £7,500 subject to status at an APR% starting from 8.2% (Secured Loan) to 26.8% (Freedom Loan) on the reducing loan balance. For many, we are the cheapest and an affordable source of credit.

Yes, but past difficulty repaying loans will not automatically prevent applicants from borrowing from us. We may also use a credit reference agency to verify ID and address.

No. We can transfer savings to the member’s bank account by BACS by pre-arranged authorisation. Withdrawals are also possible via the Members Area.

No. An agreement would be signed by the employee and the credit union authorising deductions; similar to trade union subscriptions and payroll giving. Payroll saving with a credit union is a popular service amongst many employers; as with Unison, GMB, PSC and Unite members.

Providing your workforce with a payroll deduction scheme as an employee benefit, arranged and managed free of charge by Discovery Credit Union, will encourage your staff to save regularly and manage their money better; making them happier employees!

Engage prepaid card is an electronic money product and although it is a product regulated by the Prudential Regulation Authority, it is not covered by the Financial Services Compensation Scheme. We make sure that any funds received by you are held in a segregated account so that in the unlikely event that Contis Financial Services Ltd becomes insolvent your funds will be protected against claims made by creditors.

Please visit: www.engageaccount.com

If you've never had to download your bank transactions from your bank before, it can be daunting and difficult however, we're here to offer a little bit of guidance. Click here for more information