At Stevenage Credit Union, we work hard to keep our costs as low as possible so that we can continue to offer affordable loans and savings services to our members. Recently, we've seen an increase in Direct Debit payments being returned because there aren't enough funds available in members' bank accounts on the agreed payment date. Whenever this happens, GoCardless, the company that processes our Direct Debits, charges the credit union a fee. Unfortunately, these costs add u

Important changes from January 2026 From 1 January 2026, we are introducing a new process for loan applications. During 2025, many applications were delayed because the correct documents were not uploaded. Going forward, we will not chase members for missing documents. Required Documents Members must upload: Bank statements for the last 2 months for all bank accounts Wage slips for the last 2 months or other proof of income What Happens If Documents Are Missing? If the requi

Protecting your money Your eligible deposits are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. For further information visit www.fscs.org.uk

How your membership can become dormant If your account is not active (e.g. no savings added or withdrawals made) for 12 months it will be made dormant and a dormancy charge of £5.00 will be applied which will be taken out of your account annually at the end of September. This will only apply to full membership.