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Members to receive dividend in April!

At last Wednesday’s 2017/18 AGM of St Albans District Credit Union, an annual dividend of 0.5% was recommended by the Board and was unanimously approved by the members attending.   The dividend will be added to members’ share deposit accounts, on average balances held over the year to 30 September 2018, during April 2019.

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Helping local families – successful partnership with St Albans District Council

The agreement between St Albans District Credit Union and St Albans City and District Council has resulted in a marked growth in loans to assist local families into private sector housing. During the latest financial year,  47 of these loans were made, with a value of £95,023 (up 167%). The increase was helped by a […]

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Loans granted at record level – almost £2.3m since launch

Since its formation in 2002, the total value of loans granted by St Albans District Credit Union at the end of 2017/18 had reached a new record of £2.296m, reported Chairman Colin Metcalfe at the recent AGM. The resources put into credit control and recoveries continue to be reflected in the bad debt figures. To […]

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Chairman reports on a successful year

Total membership up! Share deposits up! Value of loans granted up!  These were among the highlights reported to the AGM of St Albans District Credit Union by Chairman Colin Metcalfe last week. Total membership grew although junior membership fell slightly with the closure of some school saving schemes. Share deposits continued to increase overall, up […]

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Local MP Bim Afolami says credit unions are vital

In an article in The House Magazine concerning the financial sector, Bim  Afolami (MP for Hitchin and Harpenden) made specific reference to the importance of credit unions. He wrote “We need to make sure that the financial services sector is accessible and relevant to everyone. That does not just mean bankers and those working in […]

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NOTIFICATION OF ANNUAL GENERAL MEETING

The Board of St Albans District Credit Union hope that members will be able to attend our seventeenth Annual General Meeting.  It is to be held at 8.00pm on Wednesday 13th March in The Aldersgate Lounge, Hatfield Road Methodist Church, 133b Hatfield Road, St Albans (next to the CU office).   The agenda for the […]

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St Albans Council works with Credit Union to provide affordable housing loans

Last year St Albans District Council provided funding for people to access affordable loans for deposits and their first month’s rent. . Cllr Brian Ellis, Portfolio Holder for Housing and Inclusion, for St Albans City and District Council said, “Demand for council housing is high and there is limited availability, so we are referring some […]

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Beware scammers posing as credit unions!

The Financial Conduct Authority (FCA) which regulates the St Albans District Credit Union has issued this warning in the face of suspected scamming by the Chesterfield Credit Union: — Treat all unexpected calls, emails and text messages with caution. Don’t assume they’re genuine, even if the person seems to know some basic information about you. […]

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Mayor Praises Work of St Albans District Credit Union

Speaking at a Xmas meeting for volunteers on Tuesday (18th December), the Mayor of St Albans City & District, Rosemary Farmer, praised the work of the local credit union and thanked those who give their time to make it successful. She said “It’s a great thing you do here in St Albans and across the […]

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Have you seen “A Matter of Life & Debt” yet?

The hugely successful television series, ‘A Matter of Life & Debt’ returned for its second season on BBC One and iPlayer. The series tells the story of credit unions and some other community lenders, through the eyes of the staff and those that have benefitted from using them, in big and in small ways. Season […]

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