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. Contact the credit union for your unique IBAN & BIC number to set one up.
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 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”.