Membership Terms and Conditions

Hoot Credit Union is a Co-operative and Community Benefit Society and members are bound by credit union rules. As a member of the credit union you are expected to abide by the rules. A copy of the rules is available from the credit union on request. This is available free of charge in electronic format at any time or as a hard copy if requested within 3 months of your membership commencing. After that hard copies will be charged at £3.

Key points regarding your membership contained within these rules are:

  • By joining the credit union you are agreeing with its social goals.
  • You must retain a minimum balance of £1 to remain a member of the credit union.
  • As a condition of membership you must save regularly with the credit union to a maximum amount of £15,000.
  • You have access to your savings at any time by means provided by the credit union; unless your savings are attached to a loan according to any loan agreement you have signed.
  • You agree to pay back any loan you have according to the signed agreement.
  • You may withdraw your membership at any time in accordance with the rules.

Data Protection

In signing the membership application form you have indicated that you have read and understood the Data Protection statement contained within it.

Hoot credit union will process your data in accordance with your rights under the Data Protection Act 1998. Your information may be processed by this credit union in any form and on any database used by us for the purposes of dealing with your account(s) or run any other services we provide to you or to help us identify products and services which may be of interest to you (unless you have asked us not to) or to undertake statistical analysis, financial risk assessment, money laundering checks (which may include telephoning you), compliance and regulatory reporting, fraud prevention and debt tracing or to help us to make credit decisions about you and anyone to whom you are linked financially or other members of your household. Your details will only be shared with other agencies for the purposes of credit referencing and debt recovery, to confirm your identity for anti-money laundering purposes or to our agents or subcontractors for operational purposes. By joining the credit union you agree that we can forward any newsletter, statement message, new terms and conditions or information about any changes to the way your account(s) operate.

Subject Access Rights

If you write to us and pay a fee of £10 you have a right of access to your information held by us. You have a right of access to information held by credit reference agencies on payment of a fee to them. If you ask, we will tell you the name and address of the credit reference agencies we may use.