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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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Credit Unions “incensed by the activities of Rent-to-Own retailers”

The Association of British Credit Unions has welcomed the recent announcement from the Financial Conduct Authority of actions to curb the activities of Rent-To-Own retailers.  The spokesman, Matt Bland said “Our members have long been incensed by the activities of Rent-to-Own retailers and the exorbitant costs they charge to some of the poorest members of society.  […]

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Lovely feedback from a new member!

Sienna is a new member who was recommended to the credit union by the St Albans District Council. She said: “I had never heard about credit unions until the council told me about you.  I have been really impressed by the friendliness of all the staff who made the whole process very easy.  I can […]

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Great news for Younger Savers!

At a recent Board Meeting the directors agreed that the interest on young saver accounts should continue at 1% for the year 2018/2019. As for previous years interest will only be paid on the first £3,000 of share balances*. *As always the payment of interest is subject to available funds. https://www.stalbanscreditunion.co.uk/savings/young-savers/

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Wonga “Close to collapse” – BBC News

BBC News reports that Wonga is close to going into administration which is good news for everyone but their shareholders (and, sadly, their loan customers who will still need to repay their loans).  Last time we looked, Wonga was still charging 1509% APR.  And they are not alone.  Lending Stream was charging 1333% APR, Quick […]

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Rent to Own is a very expensive way to get the things you want

Britain’s financial regulator this week announced a crackdown on high-interest lending.  The measures, designed to protect millions of people who use high-cost credit, will affect ‘rent-to-own’ shops that sell white goods for small weekly payments. Shops like Brighthouse will face a price cap similar to limits on payday loans. As part of the review the […]

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