The Stevenage Credit Union
The Stevenage Credit Union has been running since 1995 and has around 800 members. Credit Unions are financial co-operatives, owned and run by its members. They provide savings, low interest loans and free life insurance to members.
Loans are made at an interest rate of 1% on the reducing balance, for example a one-year loan of £1,000 would cost no more than £1,070 to repay. The Stevenage Credit Union has been running since 1995 and has around 800 members. It also runs a junior savers club children.
Collection points and opening hours
Main Office – 11 The Hyde – Monday to Friday 9:00am til 12:00pm
Monday – Shephall Community Centre 10:00am til 11:15am
Thursday – Bedwell Community Centre 6:00pm til 7:00pm
Wednesday - SBC Customer Service Centre - 10:00 am to 2:00pm
Who can join a Credit Union?
Anyone who lives or works in Stevenage.
How can I join the Credit Union?
Complete a joining form and take £2 joining fee and 2 pieces of ID to the Credit Union office. Forms are available from the address below. If you are a tenant of Stevenage Homes or a Housing Association you can join for free just take proof of tenancy such as a rent statement or payment card.
Junior Savers
Junior Savers Clubs are in Peartree Infant and Junior Schools, Featherstone Wood Primary School, St. Margaret Clitherow R C Primary School, St. Vincent De Paul R C Primary School and will start at Fairlands Primary School in the autumn term of 2008.
For more information you can contact the Credit Union on 01438 740844 or email them on stevenage-scu@keme.co.uk
Can I have a loan straight away?
You need to save regularly for at least 13 weeks before you are eligible to apply for a loan. The amount you can borrow is based on the amount you have in savings. It is usually twice your savings for a first loan then three times your savings on any further loans.
Is my money safe?
Yes, by law the credit union has to cover itself against fraud and be audited every year. The Financial Services Authority, the same organisation that oversees banks and building societies, also regulates Credit Unions.
Stevenage Credit Union
11 The Hyde
Hydean Way
Stevenage
Herts
SG2 9SD
Email: stevenage-scu@keme.co.uk
Telephone: 01438 740844
Fax: 01438 740844