Standing orders

Standing orders

 

Standing Orders are a convenient way for members to save and pay their loans. Some people send in enough funds so that they can pay the interest, the loan and also save. The standing order form needs to be completed and signed by you and given to the bank where your account is held.

Click here to download our Standing order form 2016

The standing order is controlled by the member so if you wish to change the amount or cancel it you must make contact with your bank directly.

It is very important to put the Credit Union number (found on your credit union book) in the reference field on the standing order form. The Bank will put the reference on the standing order and that allows us to place the funds in your account.

It may take the bank five to ten working days to set this up. Be mindful that the setting up time does not cause you to miss a week’s payment which could cause arrears.

You may need to increase your standing order if you get a top up on your loan.

A better way to create your standing order is through your online banking. You can start, stop, amend and fully control the frequency of your standing order online.

 

Lastly: It’s a good idea to register with us online so you can check your balance at home. Just click on the “register” button on the top left of the home page. Once you have received your pin number in the post you will be able to login using the login button on the top left of the screen. When you are registered as an online user you can also use our smartphone App “cuAnywhere”.