Frequently Asked Questions


Who Can Join

Anyone Living or working in County Durham and Northumberland.


How do I join

An application form Is available on our website, by post or email.

Complete the application form noting your chosen method of saving, 2 forms of ID (one with your photo and one with your current address) EG. – Photo ID – Passport, Driving Licence, Bus Pass.

Address – Bank statement, Utility Bill, Council tax, Benefit letter.


Is there a joining fee



Is My Money Safe

Yes Your money is Protected by The Financial Services Compensation Scheme up to £85,000.


Is there a Minimum/Maximum Deposit

Minimum – no but when you withdraw funds a minimum balance of £5 needs to be left in to keep your account active.

Maximum – yes £15,000 per account.


Do you pay interest

There is no interest paid but a dividend is normally paid annually.


How often do I get a statement

Annually – although you can register to view your account on line.


How do I pay money in

Deposits can be made via standing order, direct debit, recurring debit card payment, send in a cheque, or pay cash At our Head Office in Stanley. If you receive any form of state benefit this can be paid directly into your account.

How do I get my money out

Contact head office via phone before 2pm and a Bank transfer will be made that day direct to your bank account or a cheque can be cashed a post office (as long as this is agreed with the PO)


How do I apply for a loan

An application form is available on our website.

Complete the form fully with as much information as you can.

We also need three months recent bank statements and 2 forms of ID if you are not a member.

A credit check will be completed and Income and Expenditure checked fully. Loans are tailored to you and what you can afford saving whilst paying back your loan is also expected.  Interest charged is dependant on your circumstances but the maximum is 3% on a reducing balance.

The maximum loan amount is £5,000.



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