ST ALBANS DISTRICT
CREDIT UNION
135 Hatfield Road, St Albans, Herts. AL1 4JX :
Phone: 01727 859135 : Fax: 01727 859135
Email: office@stadcu.org
Web site and design ©St Albans District Credit Union 2011
Credit Unions are not for profit community banks which are owned and run by their members for the benefit of their members. Members are encouraged to save and these savings provide the funds from which loans to members are made. Free life insurance is provided (subject to conditions) on savings and which provides additional benefits for members. The Credit Union Board is responsible for the management of the Credit Union. It is assisted by various committees. For information on the structure and duties of the Board click here
Credit Unions are regulated by law through the Financial Services Authority (FSA) and members’ savings are protected (currently up to £85,000) by the Government Financial Services Compensation Scheme in common with any bank/building society.
Is there a return on my money?
Credit Unions are financed largely by interest/charges on loans made to members. Any surpluses after payment of expenses, are used to build reserves or may be distributed to members as a dividend.
Local collection points are being established within the District for the convenience of members and to supplement the main office in Hatfield Road, St Albans. Deposits may also be made via bank standing orders and from payroll deductions. Each member is issued with a pass book showing deposits and withdrawals and a separate record of all transactions is held centrally.
Telephone/e-mail
Telephone 01727 859135 or click button for e- mail.
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