Savings
How do I start saving?
You can begin saving with ease by setting up a standing order directly from your bank account. You may choose any amount that suits you. To create the standing order, please use your online banking app. The bank details required to complete this setup are provided below.
Payment Details
Account Name: HertSavers Credit Union
Sort Code: 08-92-50
Account Number: 65350326
Reference: Your membership number
Alternatively, if you do not use online banking, please click on forms where you will find a standing order form which will need to be printed, completed and posted to our address on the form.
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I don't want to borrow but save. Do you pay interest on savings and what sort of rate?
We do not give interest on savings, if a surplus is made then a dividend is given and this is decided at the AGM each year.
How can I find out what the balance is on my account?
Check your account balances easily using our secure members’ area or app.
Loans
How do I apply for a loan?
Depending on the type of loan you are applying for, you would need to complete a loan form. You can find more information about the loans we offer here.
How long can you pay a loan back over?
It depends on the type of loan that you have applied for. You can find more information about each loan here.
How can I apply for a top up on a loan or does it have to be finished before I apply?
• Saver Loan:
Members may apply for a top-up of up to three times their current savings balance, less any outstanding loan balance. Please note that a minimum period of three to six months must pass between applications.
• Payroll Loan:
Members may apply for a top-up between three and six months after their most recent loan application.
• Child Benefit Loan:
Members may apply for an initial top-up of £250 three months after the original loan has been issued. A further top-up may be requested three months after the first top up.
• Short term loan:
Unfortunately, top-ups are not available on the Short Term Loan.
Membership
I have forgotten my login details. How can I retrieve my details to access my account?
• If you are attempting to log in through our secure Members Area, please click on Login Help, select the option you have forgotten and follow the steps.
• If you are attempting to log in through our app, please click onto either forgotten password/member number and follow the steps.
How can I find out what the balance is on my account?
Check your account balances easily using our secure members’ area or app.
What is open banking and is it safe?
Open Banking allows lenders like credit unions to see your bank statements without requiring photocopying and emailing them. As ever you can opt out of providing statements this way however Open Banking will make the assessment of applications much quicker.
Members wanting faster decisions know that we need to see everything that might impact on our decision and Open Banking provides the ability to easily look at all bank statements online.
How can I access my online account?
How secure is my money?
HertSavers Credit Union is part of the Financial Services Compensation Scheme and members’ savings up to £120,000 are therefore protected.
We invest any funds that are not being lent to other members. Any surplus that the credit union makes will be split roughly into three areas. Firstly there is a duty for all credit unions to develop reserves and a percentage of any surplus made will always go into the reserves of the credit union. Secondly, the credit union Directors may wish to put part of any surplus into developing the credit union or its products and services. Lastly, any remaining monies will be returned to savers in the form of a dividend.
Lottery
How can I enter the Lottery?
You can submit a lottery application via CUS’s website here.
Who is organising the Lottery?
It’s been organised by Credit Union Solutions.
How many times can I enter the Prize Draw?
There is a limit of 10 entries per month purchased by any one member.
How much does it cost to enter the Prize Draw?
Each Prize Draw entry will be £1.00.
How will I know that I have won?
Winning numbers will be displayed on the CUS website (www.cus.coop).
Do I need to enter the Lottery each month?
Once a Prize Draw application has been received from a member, that member will be included in all subsequent draws until that member cancels their application in writing or by email.
