Key worker loans now launched

At Hertsavers, we believe in building a community and appreciate all the effort, dedication and hard work that has been carried out by our key workers.

To express our gratitude, we have introduced a new loan, the Key Worker Loan, for all key workers including NHS, Council, Emergency and School staff.

The Key Worker Loans of £1,000 is repayable over up to 60 months at just 0.5% per month interest (6.3% APR). Loans are subject to affordability and credit checks.

New members joining and saving through payroll deduction can get up to £2,000 unless they are a homeowner in which case, they can borrow £3,000.

New key worker members joining and saving through a standing order, will be restricted to loans of £1,000.

Key Worker Loans may be added to existing loans providing affordability checks are satisfied. Any combined loan will attract the new loan rate of 0.5% (6.3% APR).

To apply, complete the form.

Herts Urgent Care take advantage of payroll deduction scheme

The fight against COVID-19 has seen one semi-retired GP, Dr Richard Norris, a Herts Urgent Care (HUC) out of hours GP from Bedford, return full time to the frontline.

We are proud to announce that HUC is now one of the employers whose staff can save with Hertsavers Credit Union through a deduction from their payroll.

New members employed at HUC can apply for an Introductory Loan of up to £2,000 repayable over up to 60 months.

Apply for a loan today.

 

Child Benefit Loan top up scheme – a huge success

Since its launch in April 2020, we are pleased to announce that our Child Benefit Loan top-up scheme has been a huge success, in particular with parents in Stevenage, who are taking full advantage of this great innovation.

Just three months after you take your Child Benefit Loan, you can top up your loan by a further £250 and after another three months a further £250 top up.

Our regular top-up is just another reason to refer your friends and earn the £50 referral bonus. You can find out more about the referral scheme here.

To apply for a loan top-up, email us on admin@cus.coop.

Open Banking

Open Banking is an easy and safe way which enables Hertsavers to review your bank statements when you apply for a loan.

All you need to do is to give us your permission and we log into a secure connection and view them online, therefore, saving you the hassle of printing, scanning and emailing dozens of pages.

With editable forms, Open Banking and faster payments, we have made applying for and getting a loan as simple as it can be.

Learn more about Open Banking from the video below:

(Source: Open Banking)

Take advantage of a loan top-up

From April 2020, Child Benefit Borrowers will be able to top up their loan by £250 after three months and after a further three months, a further £250. Commitment to savings will remain and as usual, savings may not be withdrawn while you have an outstanding loan.

If you want to top up your loan, please email us on admin@cus.coop.

Member referrals for Child Benefit borrowers

Members that refer a new member to Hertsavers for a Child Benefit Loan can now claim a £50 referral bonus for themselves and the new member will also receive a £50 bonus as well.

Our Child Benefit Loan service is the most popular loan that we have and last year we loaned out almost £500,000 to our members. This year we are already on target intended to significantly beat that.

You can help by referring your friends that are in receipt of Child Benefit who need a loan. All that they need to do is put your name on their application form in the box labelled “Promo Code”.

As soon as we pay their loan, £50 will be added to both of your accounts with the credit union. Neither payment can be withdrawn for six months by which time they will be ready for their next loan.

Child Benefit Forms are available from the website.

Terms and Conditions apply.

Build your community

The strength of the communities that we live in relies heavily on the members’ ability that live there to access finances when unexpected disasters arise.

This is sometimes referred to as resilience or the ability to recover quickly.

Members of Hertsavers, when faced with a financial challenge, are more likely to be able to access money from their savings or by taking a credit union loan than those people who are living in an area with no access to affordable credit.

The more people that join the credit union, the bigger we get and the better the service that we can provide for our members. So, don’t be shy, tell your friends about Hertsavers and let’s make it grow as our community does.

Annual General Meeting 2020 – CANCELLED

THE AGM HAS NOW BEEN CANCELLED.  MORE INFORMATION.

Our Annual General Meeting takes place on Thursday, 19 March 2020 at 6.30 pm for refreshments with a 7 pm start. All members and supporters of the Hertsavers Credit Union are welcome to attend. It takes places at Oxlease House, Travellers Lane, Hatfield, AL10 8SG. There is free parking available at the leisure centre next door.

Agenda for the AGM 2020

The Minutes of the AGM 2019 will be available soon.

Nominations for membership as a Board of Director:

If any member wishes to nominate another member for membership of the Board of Directors, nomination forms can be requested from Credit Union Solutions at admin@cus.coop. Before proposing someone please ensure they wish to be nominated and are willing to undertake the duties and responsibilities of being a Director of Hertsavers Credit Union, this includes approval by the Financial Conduct Authority and the Prudential Regulation Authority.

Just Borrow – a quick loan service

Just Borrow is our unique loan app which provides a much better member experience than any other loan app. Furthermore the interest rates are much less and the speed of processing is way quicker.

Only credit union members are able to use Just Borrow and our interest rates are much better than those from the competition because we are a not-for-profit community finance lender.

If you want to borrow up to £750 and would like to repay it over up to 9 months, this is the loan for you. It’s quick and the least expensive loan app, which is what you want.

Apply now

Financial statements 2018

To view Hertsaver’s full financial statements document for the year ended 30th September 2018, click here.