Membership Terms & Conditions

This document contains important information about your membership of CLEVR Money (CLEVR) and explains our joint obligations.

These terms and conditions relate to the operation of any accounts that you may hold with us. Any additional terms and conditions which are specific to a particular account or facility will be provided to you on application for a particular account or facility.

Any reference to shares refers to the deposits you hold with CLEVR.

“Working days” means Monday to Friday with the exception of public holidays.

These terms and conditions are also governed by English law and we are required by law to inform you that any agreements you enter into with CLEVR will be written in English and all our further communications with you will also be communicated to you in English.


  1. Membership of CLEVR is open to anyone covered by the common bond stated in the Rules of the Credit Union available on our web site or from the office on request.
  2. To become a full member you must be 18 years of age or over. Separate terms & conditions are available for Junior Savers accounts.
  3. On applying for membership we will need proof of your identity and evidence of your current address. We will provide this evidence by checking your identity electronically. A report will be produced and retained on file in order to comply with the Money Laundering Regulations 2007 and the Proceeds of Crime Act 2002.
  4. You must supply us with a beneficiary nominee to whom will be paid any funds held in your CLEVR accounts in the event of your death.
  5. We have the right to decline your application to open an account with us.
  6. A minimum of £5 must be maintained in your membership account at all times.


  1. Savings into your membership accounts may be made by payroll deductions, cheque, debit card, direct debit, standing order, bank transfer, direct benefits payment.
  2. Cheques must be made payable to CLEVR and have your membership number on the reverse.
  3. Savings made by direct debit may take between 3/5 working days to reach the Credit Union and be credited to your account.
  4. Cheques credited to a members account may take up to 10 working days before funds are cleared and you are able to draw down money deposited in this way.
  5. Savings through payroll deductions will be credited to your account on the date that the funds are received from your employer.
  6. You can change your regular savings amount by emailing or calling the office.


  1. Withdrawals from your share accounts will usually be made by BACS transfer to a nominated bank account or pre-pay debit card.
  2. There is no maximum withdrawal from cleared funds within your membership account.
  3. All withdrawals must be authorised by your signature on a completed withdrawal slip or by logging in to our secure online members’ area.
  4. You must keep your online login details secure. No responsibility will be accepted for any withdrawals made from an account where the correct PIN and passwords have been used.
  5. It is your responsibility to ensure that CLEVR have your correct bank account details. We accept no responsibility for funds paid out in cases where you have provided us with incorrect bank details.
  6. Withdrawals will usually be by BACS and settle in your nominated account within 3 working days of receipt of an instruction.
  7. Loans will be issued only after receipt of a signed Loan Agreement.
  8. All withdrawals are subject to the availability of funds in your membership account. A minimum balance of £5 is required at all times and where a member has a loan the minimum balance is one loan payment plus £5.
  9. You are able to nominate different bank accounts in which to receive electronic withdrawals by providing CLEVR with the bank name, branch, sort code, account number and the name of the account holder.
  10. You cannot normally cancel a withdrawal after we have processed your instruction. You will be liable for any charges incurred by CLEVR in attempting to cancel an instruction made by you.
  11. CLEVR reserves the right to stop any withdrawals on your Membership account in the event of you having an outstanding loan balance with CLEVR.
  12. CLEVR reserves the right to require a maximum of 60 days notice of withdrawal.


  1. If you make a deposit by cheque that fails to clear into our account, you will be liable for charges incurred by us. Such charges will ordinarily be deducted from your membership account.
  2. Such charges will be the same as those imposed on CLEVR by our bank.
  3. You will be liable for all charges incurred by CLEVR in recovering any debt owed by you to the credit union that has fallen into default.

Accessing Account Information

  1. You will receive a Statement of Account for CLEVR at least annually showing you all transactions on your share accounts and any loan account that you have with CLEVR.
  2. You are able to check your account balances at any time by registering on the members’ area of our web site.
  3. You should notify us as soon as possible if you believe that your statement or account balance includes something you believe to be incorrect or not made in accordance with your instructions.
  4. We will rectify any incorrect entries on your account as soon as possible.
  5. Before providing you with any information about your account over the telephone, all staff at CLEVR will follow our standard security procedures in order that we are satisfied about your identity.
  6. These procedures will include such steps as verifying your full name, address, date of birth and account password.
  7. We may not be able to assist you if we decide that we are unable to identify you using our security procedures. This is for your own protection.


  1. Any dividend shall be declared on all full shares held during the preceding financial year. New members joining CLEVR will be entitled to a proportional part of the dividend on any shares held for less than the full year on every full month of membership.
  2. CLEVR’s financial year runs from 1st of October until the 30th of September.
  3. Dividends shall be paid to those in membership of CLEVR the first working day after the dividend is declared.
  4. The Board of Directors reserves the right not to pay a dividend in accordance with the Rules.
  5. Dividends will be credited to your accounts gross, that is without deduction of tax. It is your responsibility to notify the Inland Revenue of any such receipt.


  1. We may use any contact details you provide to us for service related reasons.
  2. It is your responsibility to notify CLEVR of any changes to your contact details. If you do not notify us promptly of any changes to your details, the security of your personal information could be put at risk.
  3. You may make transfers between certain CLEVR accounts. Such transfers will normally be dealt with on the day we receive your instruction.
  4. If there has been no activity on your account in a twelve month period, we may make your membership dormant. You will be contacted prior to us taking this action and given the option of reactivating or closing your account.
  5. The maximum amount that you can save in your CLEVR accounts is £10,000 or another amount set from time to time by the board of directors. The latest amount can be supplied by office staff on request.
  6. These terms & conditions may be varied from time to time and an up to date copy will always be available on our website or from the office on request.
  7. All members have a 14 day cooling off period on all of our financial goods and services. If you change your mind about any of our financial goods and services and decide not to proceed, you need to notify us in writing of your decision.

Christmas Saver Account

  1. A member of CLEVR can open up a Christmas Saver Account with CLEVR at any time by completing the relevant application form.
  2. To apply for a Christmas Saver Account, an individual must have a standard membership account with CLEVR.
  3. Withdrawals from the Christmas Account can be made between the first working day in November and the last working day before Christmas using the usual withdrawal methods.

Borrowing from CLEVR

  1. You must be 18 or over to borrow from CLEVR
  2. The maximum loan available from CLEVR is £15,000 but we reserve the right to change this figure at our discretion. You should check the maximum amount available before making a loan application.
  3. The maximum repayment period for CLEVR loans is five years. The actual maximum repayment period will vary according to the type and size of loan that you apply for.
  4. CLEVR will conduct a Credit Reference Agency (CRA) search in connection with your loan application. The CRA will record details of the application on your credit report. This will form part of your credit history whether or not you proceed and if you make several applications for credit within a short period of time, this may temporarily affect your ability to obtain credit.
  5. Before you can end your membership of CLEVR all outstanding loans must be paid off in full.

Interest Charges

  1. Rates for different products and different values of loan may vary. Interest is charged daily on a reducing balance basis. Latest interest rates are available on our web site.


  1. If a loan account falls into arrears, no withdrawals will be allowed from the account until the account is up to date. We reserve the right to offset any share balance against an unpaid loan.
  2. We will share details of how you manage your loans with Credit Reference Agencies (CRA). If you fail to respond to default notices sent by CLEVR, we will register the default with the CRAs. The registration of a default notice may affect your ability to obtain further credit.
  3. CLEVR will take all necessary steps, including passing your debt to a debt collection company or take legal action to recover loans in default.

About Us

CLEVR & CLEVR Money are trading names of Blackpool Fylde & Wyre Credit Union Limited, authorised and registered by the Financial Conduct Authority (FCA) with the Firm Reference Number 478917. Our members’ savings are protected under the terms and conditions of the Financial Services Compensation Scheme (FSCS). This guarantees 100% of the first £85,000 you have saved. Our registered address is 13 Birley Street, Blackpool FY1 1EG.


We aim to provide our members with a first class service, however we appreciate that mistakes can happen and we therefore welcome the opportunity to put things right. We will investigate your concerns as quickly as possible and take steps to rectify the situation and where appropriate, prevent a recurrence. Please contact the Complaints Officer in the first instance to address any of your concerns. If however you remain dissatisfied, a full copy of our complaints policy and procedure is available on request from our office. You may also be able to refer your complaint to the Financial Ombudsman Service (FOS) once CLEVR has had the opportunity to respond to your complaint.

Data Protection

CLEVR will process your data in accordance with your rights under the Data Protection Act 2018 and the General Data Protection Regulation. Your information may be processed by CLEVR in any form and on any database by us for the following purposes:

* To consider any applications made by you.

* To help us to make credit decisions about you.

* To deal with your accounts or run any other services we provide to you.

* To undertake statistical analysis; financial risk assessment, money laundering checks (which may include telephoning you), compliance and regulatory reporting, fraud prevention and debt tracing and collection.

* To help us identify products and services that may be of interest to you. You may tell us at any time if you do not wish to receive marketing communications from us by writing to us providing your full name, address and account details.

Sharing Information

We take the security and confidentiality of your personal data seriously. We will only share your data with

* Our agents or subcontractors for operational reasons.

* Any persons including but not limited to, insurers, who provide a service or benefits to you or for us in connection with your accounts.

* Licensed Credit Reference Agencies, fraud prevention and other agencies to help prevent crime or where we suspect fraud.

* For the purpose of compliance with regulatory requirements.

* Where required by law.

CLEVR & CLEVR Money are trading names of Blackpool Fylde & Wyre Credit Union Limited, authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference No: 478917. Co-operative No: 742C. Registered office: 13 Birley Street, Blackpool FY1 1EG

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