{"id":16,"date":"2014-08-16T10:40:02","date_gmt":"2014-08-16T10:40:02","guid":{"rendered":"http:\/\/dacorumfirst.co.uk\/?page_id=16"},"modified":"2026-07-01T13:21:04","modified_gmt":"2026-07-01T13:21:04","slug":"our-services","status":"publish","type":"page","link":"https:\/\/dacorumfirst.co.uk\/?page_id=16","title":{"rendered":"Our Services"},"content":{"rendered":"

Our Services.<\/span><\/h1>\n

We offer simple and straightforward savings and loan accounts. Our Savings accounts pay a dividend (equivalent to interest) based on our financial performance. Our loans are much cheaper than payday lenders – we currently charge just 1% interest per<\/strong>\u00a0month\u00a0 (12.68% APR)\u00a0<\/strong>– and you can pay off all or part of the loan without penalties whenever you want.
\nNote that we do not offer current accounts. Many of our members have a current account with a high street bank and use that to transfer money into their savings or loan accounts \u00a0with us. If you are interested in doing this, please ask for details.<\/p>\n

The different accounts we offer are as follows:<\/p>\n

Savings Account<\/span>
\nSavings\u00a0 accounts can be opened with a minimum of \u00a35 and the balance must reach \u00a325 within 6 months. You can add money\u00a0 at any time subject to a maximum balance of \u00a315,000.
\nWithdrawals from savings accounts require 30 days notice<\/span>\u00a0.
\nAccounts attract a dividend each year subject to the financial performance of DFCU, which is the equivalent of interest. Savings accounts also come with free life insurance. Click here<\/a> for more details.
\nWe do not offer joint accounts.<\/span><\/p>\n

Credit Union legislation allows you to optionally name one or more beneficiaries to receive up to \u00a35,000 in total of your DFCU assets (including any life insurance benefits) on death. Any such payment will be paid irrespective of any other arrangements you have made in relation to your estate after your death (e.g. your will).<\/p>\n

Loans<\/span>
\nThe amount you can borrow depends on how much you have in savings. First time borrowers can apply<\/span> for up to twice their savings with a maximum of \u00a31,000 more than the savings balance. Established members can apply<\/span> to borrow up to 3 times their savings (restrictions apply). Interest is currently 1% per month – equivalent to 12.68% APR. Decisions on exactly how much you can borrow are made by the Credit Committee when they review your application.
\nWhen a loan is made a repayment schedule will be agreed and you will be expected to continue saving at least a small amount\u00a0 regularly whilst the loan is outstanding. Members can pay off all or part of the loan without penalties whenever they want. Click here<\/a> for more details of our Loans Policy. Loans are also covered by our life insurance policy – click here<\/a> for more details.<\/p>\n

Junior Account<\/span>
\nSafe savings for Under 18’s who can learn to manage their own money. At age 18 the Junior account will be converted into a standard Savings Account.<\/p>\n

Christmas Club<\/span>
\nSave up all year (whenever you want) to help you cope with the expense of Christmas. In November the balance\u00a0 will be paid out automatically (no hampers or vouchers). Christmas Club accounts do not receive a dividend.<\/p>\n","protected":false},"excerpt":{"rendered":"

Our Services. We offer simple and straightforward savings and loan accounts. Our Savings accounts pay a dividend (equivalent to interest) based on our financial performance. Our loans are much cheaper than payday lenders – we currently charge just 1% interest per\u00a0month\u00a0 (12.68% APR)\u00a0– and you can pay off all or part of the loan without … Continue reading Our Services<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":{"footnotes":""},"class_list":["post-16","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/16","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16"}],"version-history":[{"count":34,"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/16\/revisions"}],"predecessor-version":[{"id":646,"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/16\/revisions\/646"}],"wp:attachment":[{"href":"https:\/\/dacorumfirst.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}