Tel: 0118 958 5803
19 May 2013
FAQ
How do I apply for a loan?
Go our website page Loans shown on the left hand side of this page and then go to the section titles Apply for a loan. Details are given there.
How do I start saving?
Once you have become a member and made your initial investment of at least £5,we encourage you to save regularly. You can do this by
• Paying in Cash or a Cheque at one of our branches
• Setting up a Standing Order. You can get help with this by contacting us here
• Setting up a Standing Order. You can get help with this by contacting us here
• Making Bank Transfers. You can pay directly into your credit union account using these details
The Cooperative Bank, Sort code: 08-92-50, Account number : 67004913. Quote your member number as a reference. If you need help with this, please contact our Reading office on 0118 9585803
The Cooperative Bank, Sort code: 08-92-50, Account number : 67004913. Quote your member number as a reference. If you need help with this, please contact our Reading office on 0118 9585803
• Paypoint. You can request a Paypoint card for your account to pay in at any accepting retailer
What are the interest rates on savings?
The remuneration you will receive on your savings come as a percentage of our yearly profits. This is agreed at our Annual General Meeting (AGM) .
Do I pay Tax on this?
Higher rate tax payers will need to declare this income to the Tax Office but Non-tax payers and Basic rate tax payers do not have to pay any tax on this.
What are the interest rates on loans?
The interest rate on our loans is 24%. Please pop into see us at any of our branches or call us on 0118 9585803 to find out more.
What is death benefit?
An insurance policy paid to your beneficiary when you die.
Can I choose how and when I repay the loan?
Yes, each loan is agreed on an individual basis and tailored to meet your needs and circumstances.
Where are your branches and when are they open?
For the latest information see the Opening Hours page
I would like some advice before I apply, who should I ask?
Please pop in to see us at any of our branches or call us on 0118 9585803.
I'm currently claiming benefits, is there some way I can save some of these with you?
Yes, it doesn't matter where your money comes from.
I don't understand the forms you have asked me to fill-in. Can I get some help with them?
Yes, please pop into see us at any of our branches or call us on 0118 9585803.
How much can I save?
The maximum you can save is £15,000
Are my savings safe?
Community Savings and Loans members are covered by the Financial Services Compensation Scheme (FSCS).
The FSCS can pay compensation to depositors if we are unable to meet our financial obligations.
Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000.
For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be two times the maximum payout limit.
The £85,000 limit relates to the combined amount in all the eligible depositor's
accounts with Community Savings and Loans Ltd, including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please ask at any of the branches of Community Savings and Loans, or call us on 0118 9585803, or refer to the FSCS website: www.FSCS.org.uk, or call 0800 678 1100.
The FSCS can pay compensation to depositors if we are unable to meet our financial obligations.
Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000.
For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be two times the maximum payout limit.
The £85,000 limit relates to the combined amount in all the eligible depositor's
accounts with Community Savings and Loans Ltd, including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please ask at any of the branches of Community Savings and Loans, or call us on 0118 9585803, or refer to the FSCS website: www.FSCS.org.uk, or call 0800 678 1100.
I'm not happy and wish to make a complaint - how do I go about it?
When you submit a formal complaint the Complaints Officer will contact you within seven days.
We will attempt to deal with your complaint as quickly as possible.
If you are not satisfied with the way the complaint is being handled you can contact the Chair of the Board of Directors to register your concern.
If your complaint has been taken through our internal complaints procedure and you are still dissatisfied you can take your complaint to the Financial Ombudsman Service.
Full details of the complaints procedure and the necessary forms are in our branches and available on-line under the Forms section of the member area.
We will attempt to deal with your complaint as quickly as possible.
If you are not satisfied with the way the complaint is being handled you can contact the Chair of the Board of Directors to register your concern.
If your complaint has been taken through our internal complaints procedure and you are still dissatisfied you can take your complaint to the Financial Ombudsman Service.
Full details of the complaints procedure and the necessary forms are in our branches and available on-line under the Forms section of the member area.
I have an issue which is not listed here, where can I find help?
Please pop into see us at any of our branches or call us on 0118 9585803.
