We are aware that some members were expecting payments into their bank accounts this morning which have not arrived. All the payments were sent as normal, but unfortunately due to a problem with our bank, some payments have been delayed. This problem is affecting multiple different companies, not just Sheffield Credit Union. The bank have now confirmed that all delayed payments will be paid by the end of today.

You can still contact us to withdraw from your savings, and if you request a same-day withdrawal you will receive the funds this evening.

If your payment has been delayed, you can request a same day withdrawal today without paying the normal £2 fee. Please be aware that we can only do this if you have money in your withdrawable savings - we cannot resend this morning's payment because it has already left our accounts.

Given life's unpredictability, it's crucial to have some savings set aside to help you manage unexpected situations, such as job loss, illness or unanticipated expenses.

A financial cushion can provide peace of mind during these times. Recent 2024 UK savings statistics from the price comparison site money.co.uk show that:

• 34% of adults have either no savings or less than £1,000 in their account.
• 65% believe they wouldn't manage three months without borrowing.
• Savings accounts remain the most popular method of saving, with over half (57%) of UK adults using them.

UK Savings Week, taking place from 9th to 15th September, encourages individuals to improve their savings habits. Whether you're a regular saver, an occasional one or struggling to save, this initiative aims to promote financial resilience. Launched in 2022, UK Savings Week brings together organisations to support people - especially their employees - in building financial security by providing access to helpful saving advice.

If you're looking to better manage your finances, here are some useful tips to help make your savings work harder:

1. Find the best savings account

Many UK savers keep most of their money in low-interest current accounts. Shopping around for higher interest rates can significantly boost your returns. You could also consider specialist accounts like our Junior Saver account, which helps children and young people develop healthy saving habits early on.

2. Try ‘No spend’ weekends

Once every other month, dedicate a weekend to spending nothing. Go for a walk, watch a movie at home, visit free museums, or enjoy a game night - all without spending a penny. It's a great way to give your savings a boost.

3. Review your tax code

An incorrect tax code could result in overpaying, leaving you short until a refund is processed. On the other hand, paying too little may lead to a hefty bill later. Ensuring your tax code is correct can save you money and hassle.

4. Overpay on your mortgage

If you can, consider making extra payments on your mortgage each month. Doing so can shorten your mortgage term and save you a lot in interest. Just be sure to check for early-repayment fees before committing.

5. Take advantage of cashback

Before making an online purchase, search for cashback offers. Many sites provide cashback or discount codes for popular retailers, so a quick check can lead to savings.

6. Prioritise paying off debts

If possible, use your savings to pay off debts. Doing so can prevent interest from accumulating and put you in a stronger financial position in the long run.

Where can I get help?

Contact a trustworthy financial institution, such as your local credit union, for help and advice on improving your financial circumstances.

At Sheffield Credit Union, we offer a wide range of savings accounts designed to keep your money safe and secure, with regular dividends paid out to qualifying members.

We also provide an employee payroll scheme which allows members who work for certain employers to save through their pay, with deductions going straight into their savings account from their salary or wage, meaning they don't even miss it.

To find out more, visit: https://sheffieldcreditunion.com/savings/

Our office will be closed tomorrow, but we will still be operating as normal, and you can contact us by phone or email.

If you have an appointment, we will contact you first thing to rearrange.

Update from South Yorkshire Police

Following the violent disorder that took place over the weekend, we wanted to write and provide you with an update on our ongoing policing operation as tensions across the country remain high.

We know the disorder seen on Sunday, and the ongoing rumours about further disorder, have caused significant concerns within our communities across South Yorkshire. As community leaders we know you will be hearing these concerns from those you represent, and we want you to know that we are listening and responding.

In recent days, we have enhanced the number of officers on the streets of South Yorkshire. Our Neighbourhood Policing Teams are patrolling across the county, especially in the communities which are currently feeling most vulnerable. Our officers are there to provide reassurance and as well as enhancing our patrols, we are also talking to, and hearing from, faith and community leaders around our policing operation.We are aware of a number of reports circulating in the community and on social media around potential events across South Yorkshire in the coming days. Please be assured we are continuing to closely monitor the situation and we have plans in place to respond to any planned, or spontaneous activity.If activity does occur in your local area, officers will seek to provide information to you, so you can make an informed decision on keeping yourself and your community safe.

Alongside planning for potential further disorder, we have officers working around the clock to identify those involved in the horrendous scenes we saw at the weekend. Seven people are now charged in connection with the disorder in Rotherham and Sheffield and a number of other people have been arrested. There will be further arrests in the coming days and those involved in the violence will be held accountable for their actions.

To all of our communities, our message is clear – our priority will always be public safety and we are here to keep our communities safe.

As leaders within our community, our ask is that if you hear of any specific community tensions or concerns within your communities which may lead to disorder or any form of criminality, then please let us know so we can effectively respond. If there is an immediate risk, please call 999. If the information relates to a non-urgent matter, please contact our team via 101 or our online portal, which can be accessed here: https://www.southyorkshire.police.uk/ro/report/ocr/af/how-to-report-a-crime/

Thank you for your continued support within our communities, and please do feel free to pass on this message as assurance to anyone who may have concerns.

Kind regards,

Ross,

Acting Inspector Ross MASTERS.

Sheffield Credit Union is delighted to announce that we've been named Best Credit Union Loan Provider at the 2024 Consumer Credit Awards!

Organised by financial services specialists Smart Money People, the winners of the Consumer Credit Awards are voted for by customers of the nominees, making them among the industry's most sought-after awards.

And we can reveal that we received a whopping 2,681 votes and an average score of 4.94/5, with 95% of respondents awarding us 5/5!

We've been providing our members with low cost, affordable loans to help them improve their financial stability since 2004, so to mark our 20 year anniversary with an award that has been voted for by them is absolutely fantastic. 

We'd like to say a huge and sincere 'thank you!' to everyone who took the time to vote. We promise we'll keep working as hard as possible for each and every one of you and all of Sheffield's amazing communities!

Read our reviews

Welcome Lyndsay Pitchley, our new Community Development Manager at Sheffield Credit Union!

We're looking to collaborate with and support community groups in the Sheffield City Region, so please get in touch! Our goal is to work together towards achieving great things and making a positive impact on Sheffield. Let's join forces and make a difference!

We're thrilled to have been shortlisted for TWO Consumer Credit Awards - and not only can you help us win them, you could win £1,000 just for taking part!

We've been nominated in both the 'Best Credit Union (North)' and 'Best Credit Union Loan Provider' categories. If you think we deserve to win, we'd love it if you took a moment to vote by following the link below and answering a few short questions about your experiences with us. All voters are entered into a draw to win a £1,000 cash prize!

Run by the financial services experts at Smart Money People, the Consumer Credit Awards recognise the achievements of organisations in the credit industry – including loan providers, credit unions, credit information partners, retail finance and more. It’s up to consumers to vote, making the awards both unique and a true endorsement of customer satisfaction. 

Unlike other awards, the winners of the Consumer Credit Awards are decided solely by customers, making winning one particularly satisfying!

Jacqueline Dewey, CEO at Smart Money People, said: “In the last 12 months we’ve seen consumers face increased costs of living and multiple interest rate rises. These factors have undoubtedly resulted in another busy year for the credit industry. The Consumer Credit Awards recognise those companies that continue to go above and beyond. Thanks to the data we collect with our reviews, the Consumer Credit Awards are an endorsement of customers’ experiences and a symbol of the UK’s very best companies. We can’t wait to see who consumers decide will win in 2024.”

Voting closes on July 11th.

As we bid farewell to 2023 and welcome the new opportunities 2024 has to offer, it's an ideal moment to take a close look at your financial situation. Whether you're saving for a dream getaway, trying to become debt-free or planning for a secure retirement, setting clear and realistic financial resolutions is the first step toward achieving your goals.

At Sheffield Credit Union, we are dedicated to assisting our valued members in making informed financial decisions. Here are five essential financial resolutions tailored for you to consider as you embark on a prosperous 2024!

Conduct a financial health check-up.

Understanding your current financial situation is crucial before mapping out your financial resolutions. Start by outlining your income, debts, monthly expenses and savings. This assessment will help you identify areas for improvement and highlight the areas where you're already succeeding.

Make a budget.

Crafting a budget is a fundamental tool for financial wellbeing. It's a straightforward yet effective way to manage your spending, allowing you to allocate funds for essential expenses while still saving for your goals. 

By utilising a free budgeting tool or app - such as this free budget planner - you'll be able to simplify the process in no time. But remember, the hardest part about a financial budget is sticking to it! 

Start contributing to an emergency fund.

Life is unpredictable, so having a financial safety net is an essential way of establishing an emergency fund to help cushion the impact of unforeseen expenses or sudden unemployment.

Ideally, you should aim to save 3-6 months' worth of expenses in a separate savings account. Although often easier said than done, at Sheffield Credit Union, we're committed to helping our members achieve financial stability, which is why we offer a range of savings accounts to suit every need - you can check them out here.

Clear your debts.

With large debts accumulating hefty interest charges and elevating stress levels, addressing outstanding debts should be among your key financial priorities for 2024. 

While eliminating debts takes time and discipline, even small steps toward debt reduction bring a sense of accomplishment and pave the way for a debt-free future. 

Designed to help you consolidate your debts into one simple monthly repayment, you can find out more about - or apply for - one of our Consolidation Loans here.

Put something aside for your future.

Your 'golden years' might seem a long way away, but it's never too early to start planning for them, so increase contributions to your pension plan or set one up if you haven't already. This commitment will yield long-term benefits, ensuring a comfortable and secure retirement.

How Sheffield Credit Union can help.

At Sheffield Credit Union, our range of savings accounts and affordable loans can help you become more financially stable with a minimum of fuss.

Everyone at Sheffield Credit Union would like to wish Simon Martin, our Finance & Lending Manager, the best of luck and safe travels as he leaves after 14 years of devoted service to this Credit Union. We will all miss him!

Pictured with CEO Paul Hancock & a gift to remind him of home on his travels!