From the 1st of November  2011 Our interest rates will increase from 1% per month of the decreasing balance to 1.5%. .APR of 19.6%. All new loans will be  twice members savings.  Loan amounts are at the discretion of the credit committee. (Please see our loans policy for more details).

Members can take out loans for all sorts of things such as holidays,Cars, Christmas, Furniture and domestic Appliances, Dental treatment, Vet Bills.  You name it! 

MEMBERS MUST HAVE BEEN SAVING FOR A MINIMUM OF 13 WEEKS TO BE ELIGIBLE TO APPLY FOR A LOAN.

IF MEMBERS CANNOT KEEP UP PAYMENTS ON A LOAN THEY MUST CONTACT THE CREDIT UNION IMMEDIATELY AND ASK FOR ASSISTANCE.

Savings are used to male loans to members and the interest from these loans is used to pay the expenses of the credit union.  If a large reserve is built up the remainder is paid to its members in the form of a  dividend.  The reserves are dependant on the money saved by members, which will also determine the amounts available to be paid out in loans.A

Free Insurance on savings and Loans (Conditions Apply)

The Stevenage Credit Union offer savings and loan protection insurance cover.  THIS IS FREE TO THE MEMBER.  The insurance is provided by Cuna Mutual Insurance Society.  When an insurable member dies so does thier debt (subject to conditions.)  Like wise the insurance cover on life savings can benefit the next of kin if a member dies.  The maximum amount of cover varies from each credit union.  Stevenage Credit Union pay loan protection which covers members up to the age of 79.                   

"From Small Acorns"

Stevenage Credit Union