In the light of the upcoming migration to Universal Credit for a growing number of people living in the Sheffield City Region, Sheffield Credit Union have been working with various partner organisations, including Citizens Advice Sheffield and a number of housing providers to ensure that supportive financial products and services are available to help people through the transition, and to adjust to the new processes.
Although Sheffield Credit Union provides loans options, which may be useful to help with emergency or other financial needs during this time, the most useful service is proving to be the “SCUBA” or “SCUBAlite” account.
This account can be accessed by anyone who joins Sheffield Credit Union, and is designed to ringfence an agreed amount of regular funds in the individual’s account to pay up to 5 household bills each month. It ensures the important bills are paid which can help reduce the stress of keeping up with household costs.
The account can also arrange for the remaining income to be automatically sent to the individual in regular “weekly”* amounts to spread monthly income more evenly over the month.
The SCUBAlite account is a version of this account where only one bill is paid (usually rent). There is an additional version which is a dual SCUBA which allows for 2 bills to be paid (usually rent and council tax). Sheffield Credit Union have found that SCUBAs to pay these two bills are the most in demand.
The SCUBA account costs £10 per month, and the SCUBAlite £5 per month (Dual SCUBA £6 per month). We have negotiated with several housing providers/support organisations to pay the cost of the “rent” part of the account for their tenants. The organisations that provide these accounts may have special conditions to qualify, but it is always worth enquiring with us if you or somebody you know or work with may be able to benefit.
To see the list of housing and other providers please follow this link – the providers are listed about halfway down the page alongside explanations about the SCUBA and SCUBAlite accounts. Please contact the office for more details.