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.
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 Commitment to savings will remain and as usual, savings may not be withdrawn while you have an outstanding loan.
We have been closely monitoring updates on the spread of the Corona virus. The health and safety of our members is our first priority so we have made a decision to cancel the AGM which was to take place on Thursday 19 March 2020.
Thank you for understanding and support.
With kind regards,
Hertsavers Credit Union team
Coronavirus Contingency Plan
16th March 2020
Due to the Coronavirus, we may need to change our work practice due to reduced staffing or staff working from home.
The rate at which emails are received has significantly increased with more members requesting withdrawals. This increase in emails means that the time we take to respond may increase and hence your withdrawal may take longer than usual.
By far the quickest way of getting a share withdrawal is through the Members Area on the website. If you have yet to register for the Members Area on the website you should do it straight away. You can register here.
Members Area share withdrawals are processed on a daily basis and if submitted before 9 am will show in your bank account the same day or after the next working day. By comparison, email requests for share withdrawals could take up to three working days.
Hertsavers Credit Union team
Member referrals for Child Benefit borrowers
11th March 2020
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.
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.
February newsletter – Hertsavers Credit Union
22nd February 2020
Some of the topics covered in February’s newsletter include:
Details of the Annual General Meeting which takes place on Thursday, 19 March 2020
More information about Just Borrow and Open Banking
Pointers for ensuring a successful loan application
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.
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 firstname.lastname@example.org. 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.
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