News

Michael Sheen video to support crdit unions

October 19th was the day that credit unions celebrated all around the globe to raise awareness of the movement and Welsh Hollywood actor, Michael Sheen, has released a YouTube video emphasising the benefits of credit unions and encouraging people to join via the Find Your Credit Union website. Click here to watch the video

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The Credit Union signs new agreement with SADC

The Credit Union has recently signed an agreement with St Albans City & District Council to offer budgeting accounts to Council tenants in order to assist in the transition to Universal Credit due in November 2017. Universal Credit payments can be paid into the tenants’ credit union accounts and money due for rent will be […]

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Important news for Junior Savers

The Credit Union Board has agreed a junior saver interest rate for 2016/17 of 2% applying only to the first £3,000 of share balances. The interest will  be added to qualifying accounts in October 2017. However in view of increasing pressure on costs the Board is giving notice that for 2017/18 the interest rate will be […]

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Is my money safe in a credit union?

The latest figures form the Bank of England show that with assets of over £3 billion and almost 2 million members, UK credit unions are substantial financial institutions. Latest Bank of England Statistics Along with all credit unions, St Albans District Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial […]

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Not just for the less well-off

People sometimes tell us that the typical credit union user is someone who the large banks don’t want as a customer and so isn’t relevant to them. This is simply not true! Many people become our members because they want a local community-oriented bank rather than a big commercial financial institution. They know that a […]

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We are a not-for-profit community bank

Sharing of rewards and benefits is at the core of all credit unions, including St Albans District Credit Union. Commercial banks are owned by shareholders or are part of bigger groups, we are owned and run by our members. We do not have to pay dividends to anyone except our members. Once you become a […]

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Make sure we have your up-to-date contact details

It’s really important that members let us have their up-to-date contact details. We often discover that members have moved house, changed their landline or mobile phone number or changed their email address. Not only does this create problems for our office volunteers, it makes it difficult for us to communicate important information concerning members’ accounts […]

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Harpenden branch reaches 10 year milestone

This September the Harpenden branch of the St Albans District Credit Union is celebrating ten years of operation in the town. The branch was opened on Saturday 8 September 2007 by Peter Lilley, former MP and the Town Mayor and was initially located in th Southdown Methodist Church Halls, before moving to its present location […]

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Support from St Albans Council Means Quicker Loan Decisions

St Albans District Credit Union has been awarded a substantial grant from the St Albans District Council’s Community Grants Fund to pay for its new Automatic Loan Decisioning project. This new tool will help the us to make loan decisions more quickly and, hopefully, to allow us to grant more loans than before. We are […]

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Great feedback from members!

It’s always nice to hear that our members appreciate the work done by our office manager and the volunteers. We’ve had a couple of emails this week: Duncan wrote “..great service as normal from the union – unlike my mainstream bank!” while Jacqui wrote “Must say, most impressed with the website! …thank you for the […]

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