Bedford Credit Union Newsletter: December 2021

Dear Members,

Hello everyone, we trust that we find you well. Oh, how time flies; it will be Christmas again, and then time to welcome another New Year in a few weeks!

  1. Special Welcome

Our BCU family continues to grow every month, and it is our pleasure to welcome ALL our new members who have joined us this year.  Thank you for choosing to be part of this wonderful community that seeks to promote everyone’s financial inclusion and fairer credit.

  1. Covid 19

The last few months have been challenging in many respects for all of us due to the Covid 19 pandemic. Thankfully, in the last three months, we have seen some easing up on the restrictions and some normality returning to some of the things and activities we were used to doing in the past. Above all, we hope you have found ways to cope and get support to look after your well-being.

We are pleased that our services remained available throughout the pandemic to meet members’ needs, though with a limited staff/volunteer team. We shall continue to take a cautious approach as Covid is still spreading, and we do not want to put any of our staff, volunteers or members at risk. Please be assured that, despite the changes to our opening arrangements, you will still get the best possible service from Michelle and her team. Please feel free to ring the office Tel: 01234 346352  to make an appointment to discuss your financial needs and how you can be supported. Management will continue to monitor the office situation and update any changes as soon as decisions are taken. This is perhaps a good opportunity to make sure that going forward we offer the best service to our members in the most efficient, up to date way and we hope to bring you news of new developments in due course.

  1. Talk Money!

This week is Talk Money Week – a time to encourage all our members to think about their finances and talk openly about the issues they may have. Talk Money Week is a national initiative and there are lots of useful resources available to help you understand your financial choices. The government Money and Pensions Service are the lead sponsors of the week and a good place to start looking for information.

  1. Christmas Loans

Christmas is now around the corner, and we are aware that usually there is pressure on finances during this time. Bedford Credit Union is here to help support you. We are ready and able to lend – provided of course that you pass affordability and credit checks. We know how stretched family finances can be and many of our borrowers have had some credit problems. We are here so that you do not have to turn to loan sharks or unfair lenders. Please get in touch with the office to see how you can be assisted with affordable loans, either to manage the festive season or perhaps to book your Summer holiday. Take a look at what we offer, remember there are no arrangement fees, we don’t charge penalties if you are in difficulties, and we won’t lend what you cannot afford to repay.

How our rates compare

Cost of a £500 loan over 12 months Monthly


Total Cost APR Final savings pot
Morses Club


£75 £975 342% 0


£66 £794 167% 0


£55 £641 70% 0


N/A N/A 90% 0

member loan

£50 £603 43% 0

Save as you Borrow

£63 £754 43% £151


*Examples from lenders’ websites October 2021, NB our rates are lower for larger loans, 26.8% for loans above £1,000 and 12.7% for loans of over £5,000.

  1. Social Media Handles

If you would like to keep up with some of the news of what is happening with the Credit Union, please follow us on:

Twitter: @bedfordcreditunion   Facebook: Bedford Credit Union   Instagram: bedfordcreditunion

Till our next edition, please keep safe!

Management & Staff

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Bedford Credit Union Limited. Our registered office is 6 St Paul’s Square, Bedford, MK40 1SQ. We are authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA (Company No. 213900).