St Machar Credit Union

Established in 1990 Companies House Number 58CUS

Was started by local residents of Woodside and Seaton who were fed up with high interest door step lenders charging high interest rates for small loans and because they were not offered basic banking services because of their low incomes.

In 1986 a steering group came together and started the lengthy process of starting a credit union, which would be the first in Grampian. In November 1990 the credit union opened at its main office in 22B Sandilands Drive, Woodside Aberdeen

In 2002 because of demand from residents in the Middlefield area the credit union widened its operating area to take in the Middlefield area.

In 2006 working in partnership with Langstane Housing Association the credit union widened its operating area to take in George Street – and also payroll deduction for Langstane Housing Association Employees

In 2009 due to member’s suggestion/requests and with help from local councillors the credit union started to offer Aberdeen City Council payroll deduction. SHMU (Station House Media Unit) employees requested this service and this was started in 2009

In November 2009 the credit union became recognised by the Department of Work and Pensions / HMRC as an authorised credit union able to accept benefits to pay into the credit union.

The credit union also moved premises from 22B Sandilands Drive to the new build at the Woodside Fountain Centre, two streets away but the first time the credit union changed its registered office since the credit union opened

In March 2013, the members present at AGM agreed for the second year running to adopt the changes in regulations for credit unions under the Scottish League of Credit Unions Rule Book – included within the changes is that small community business can open a credit union account


Want to find out more?

Visit the St Machar Credit Union website, or get in touch with the team:

Telephone – 01224276994

Email – f-credit@fersands.org


Copyright British Credit Union Historical Society 2018 – All rights reserved

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