Important! Starting from Monday 24th April, there will a charge of £1.50 per cheque cashed at the Post Office

The Co-operative Bank informed us yesterday (18th April) that starting from 19th April, the Post Office will charge us £1.50 for each cheque they process.

Since we are a not-for-profit organisation, as much as we would like to, we cannot subsidise this fee. Therefore, starting from Monday 24th April, whenever you cash a cheque at the Post Office, we will have to deduct £1.50 from your account. That means that if you were to request a cheque of £10, you would receive a cheque for only £8.50.

To avoid this fee, we can offer you two alternatives to collect your money:

  • We can transfer your money straight into your bank account
  • You can sign up for an Engage card which we can then preload with your money

We strongly recommend you choose one of these alternative methods to avoid having to pay to cash a cheque.

What will happen before 24th April?

  • We will pay the charge for cashing the cheque for you until 24th April.
  • If you have multiple cheques waiting to be collected at our office, we will combine them into one bigger cheque and pay the charge for one cheque.

We are sorry about any inconvenience this may cause. But we do not make this rule. We can only inform you of the changes.

Thank you.

Good News! You can now deposit money online

We are pleased to tell you that you can now easily deposit money online. To make the deposit, simply log into your member account and use your debit card. Please note that if you haven’t registered your account on our website, you need to do that first before you do any transaction online.

Volunteers Wanted!

For the Junior Savers Scheme

Volunteers wanted to support Chesterfield and North East Derbyshire Credit Union in the delivery of our very successful savings scheme into local schools.

What we need:

We are looking for enthusiastic volunteers to visit local schools within Chesterfield and North East Derbyshire or to undertake administration duties for the JSS at our office on Soresby Street.

What you’ll do:

The in-school work entails making a weekly visit to one or two schools to deliver or collect necessary stationary and/or make the collection from the children. You would also act as liaison officer between the school and the Credit Union.

The use of a car (expenses paid) would be an advantage, but if there is a participating school near you, it may not be necessary.

What we’ll do:

Full training and ongoing support will be given and all out of pocket expenses paid.

Ask for more information at the desk!

How  to get a low Interest loan of up to £500 using your Child Benefit


If you are receiving child benefit, you might be eligible to apply for a loan of up to £500 on our Family Loans Scheme.

This will be conditional upon child benefit being paid directly from the DWP to the Credit Union. If you wish, you can use the whole of your child benefit to make repayments. However, we have found you usually choose to use only part of your child benefit.

Then you can decide what you want to do with the remaining amount. You have three options: you can leave it in as savings, you can withdraw it weekly/monthly, or you can split it between savings and withdrawal.

Here is an example of how a loan plan might look:
Sarah has two children. She receives £34.40 per week in child benefit.  She wants to borrow £500 from the Credit Union.  After our budgeting interview to ensure that Sarah has sufficient disposable income, this could be her repayment plan:
Total interest charged: £68.31
Weekly loan repayment:  £15.40 (better to use the pence)
Number of weeks to pay:  37
Leftover amount every week: £19

The left over £19 can be returned directly to Sarah every week or put into her savings account at the Credit Union, or split between the two options.
Please note that this is only an example and may not reflect your actual application.

If you are interested in getting a loan from us, please contact us to become a member. However, to qualify, you must be over 18 and either live or work within Derbyshire.

Four Steps towards Raising Your Children to Be Smart With Money


Children who grow up without learning how to manage money properly are likely to become adults who go heavily into debt and possibly struggle financially all their life. If that is not the future you want for your children, there are 4 action steps you could take:


Allow your children to earn money

As soon as your children are old enough to do some chores around the house, you could reward them financially for completed jobs at home.
It is important that you give out money only when they finish their jobs. Don’t hand out money for chores that aren’t completed.


When your children are older, you could also encourage them to do part time jobs around the neighbourhood.

Encourage savings

Make sure your children regularly save a percentage of their earning (or pocket money) .Opening a saving account for them is a great way to do that. Chesterfield and North East Derbyshire Credit Union has a Junior Saver Scheme for children up to 16 years of age.


For young children, you could also consider setting up a piggy bank and try to ensure that they let the amount build for a while and aren’t tempted to “borrow” from it too often.


This will teach them basic money management and grow up to be responsible adults.


Help your children budget their money

Now that your children have earned money and set aside some saving, the next step is to help them budget. There will be things they want to spend money on such as a new game, a new dress etc. Help them work out how much they need and how long they will need to save. Then there is a question of prioritizing. Let them make tough decisions - if they want to buy a game, they can’t also buy new trainers if they don’t have enough money in their accounts.


Don’t hand out money to buy both. Let them choose. This will help them learn about priority and self-discipline.


Let them take responsibility

If your children make a impulse buy and spend all their savings, let them bear the consequences. However much they moan and implore you to buy them that new game or new dress, don’t give in.


When they grow up, who will pick up the pieces if they spend the whole month’s salary unwisely?


Helping children manage their money early will give them an advantage in life. Don’t wait. Prepare them throughout the early years.


Sign them up for Chesterfield Credit Union Junior Saver Scheme.


We currently have a growing number of junior members. They don’t need to pay any membership fee. They can be any age from birth to 16 years. We currently run schemes in 19 local schools where our volunteers visit weekly/fortnightly to collect savings from the children. Children are led in discussions around banks and savings and asked to suggest ways to ensure that they are able to afford the things that are important to them now, or that will be in the future.


Why not help your children build a brighter future?

Valid ID to cash our cheques at the Post Office

• Bank Card
• Credit Card
• Passport
• Birth Certificate
• Cheque Book
• Mortgage Repayment Card
• Driving Licence (Not Provisional)
• Trade Union Card
• Armed Forces ID
• Marriage Certificate
• Membership Card of Nationally Known Association (e.g. AA, RAC, British Legion)

Cannot Use To Cash Cheques

• Provisional Driving Licence
• POCA
• Rent Book

A Simple and Effective Way to Save for Something Special

money

Many people don’t succeed in saving for that special item. Quite often, this is because of lack of systematic approach rather than lack of spare cash. You would have a much higher chance of success with saving if you have a specific goal.


Suppose you want a new Samsung Galaxy Tab S2 tablet? Here’s the simple way.


The First Step


First and foremost - identify how much the new item will cost. Figure out how much you can realistically save each month and how long you will have to wait.

For example, if your new tablet will cost £450 and you can only afford £200, you need to save £250. If, after working out your income and expenses, you think you can realistically save £50 per month, at that rate, you’ll be able to buy your new tablet in 5 months’ time. Now, £250 is your main goal and £50 your monthly goal. Your responsibility now is to set aside £50 per month.

The Second Step


This step is especially useful if you struggle to meet your monthly goal. Every time you are about to buy something, ask yourself this: “is this more important than (your special something, e.g. the Samsung tablet)?”

Imagine that as you walk into your local news agent, you catch sight of a glossy magazine that you would like to read with the cover story about the new Sherlock Holmes. Before you dig out that £3 to buy the magazine, ask yourself this: “is this magazine more important than getting my new tablet?” If the answer is “no”, set that £3 aside for your “piggy bank”.

If you do this with every little item soon the money you might have spent on the latte, a magazine, a new scarf on the sale aisle will add up. You’d be surprised how much extra money you will save.

Try it.


Good luck.

Our Partners

Derbyshire County Council Chesterfield Borough Council North East Derbyshire District Council Rykneld Homes Derbyshire Community Foundation Derby City Primary Care Trust

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