Expected to find Sheffield Credit Union or LASER? You've come to the right place. We're now called South Yorkshire Community Bank. Read more about our name change

Become a member

Everyone who has an account with us of any type is a member of South Yorkshire Community Bank.

That’s because we’re a type of not-for-profit bank that is owned by its members. Find out more below.

Become a member today
A family of three sitting on their sofa. The child is sitting on the back of the sofa above one of the adults while striking a pose.

Why do I need to be a member to have an account?

South Yorkshire Community Bank is a co-operative, which means we are owned by our members. Anyone who saves, borrows or budgets with us

Elderly adult on the sofa with a younger adult looking at papers, a calculator and laptop on the coffee table.

Can anyone be a member?

To be a member, you will be over 16 and part of our common bond.

That means you will:

  • Live or work in and around Sheffield or Rotherham, in the area defined by our common bond.
  • Be a tenant of one of our affiliated housing providers
  • Be employed by one of our payroll partners, even if you live outside of the Sheffield or Rotherham area.

If you are under 16, you can still save with us through our Junior Saver account.

An elderly adult is sat at their kitchen table looking out of the window while their grand child is hugging their shoulders from behind.

What does it mean to be a member?

  • You can hold an account with us (loans available from age 18)
  • You may receive a dividend each year.
  • You can attend our Annual General Meeting, and vote on proposals to decide how South Yorkshire Community Bank should be run.
Two adults in cycling helmets with hills and fields in the distance.

How to join

It’s easy to become a member of South Yorkshire Community Bank. As long as you meet the criteria above, you can join online. You will need £1 for your member share.

When you join, whether borrowing, saving or budgeting, every member receives an Easy Saver account. We will also open a ‘Member Share’ account for you with the £1 joining fee. This is just a place to keep your £1 share safe and sound.

Once you are a member, you can apply for a loan, or open other accounts such as savings or budgeting accounts.

 

 

A young woman is lying on her sofa looking at her mobile phone and smiling broadly.

The joining process

Joining takes just a few minutes:

  • Complete our joiner form

    Our joiner form is here. If we need any additional information from you, such as proof of identity, address or anything else, we’ll let you know.

  • Sign your letter

    We’ll send you a welcome pack with everything you need to know about South Yorkshire Community Bank. You will also need to return a signed letter with your nominated bank account form so that we can transfer savings withdrawals or loans funds to you.

  • You’re now a member!

    Once we receive your signed letter and nominated account form, we’ll give you your membership number and Easy Saver account, along with anything else you applied for. Use our online services to keep track of everything.

  • Save, borrow and support your community

    While you’re a member, you can apply for loans, save in other ways and even open a budgeting account with us (subject to status and terms & conditions). All without fuss, because what matters to you matters to us.

Become a member now

What our happy members say

“They make you feel like you a person not just a number.”

Sandra R

“They do a wonderful job in our local community.”

Dave R

“Safe and ethical.”

Gareth J

Membership Share Terms & Conditions

By opening a savings account or applying for a loan, I agree to become a member of South Yorkshire Community Bank t/a Sheffield Credit Union (“SYCB”), and to keep £1 in my Membership Share account for as long as I remain a member.

I confirm that I understand and agree to these terms:

  • As a member of SYCB, I am entitled to attend Annual General Meetings, vote on proposals and have a say in how the organisation is run through consultation and feedback.
  • Life savings insurance and dividend payments do not apply to my Membership Share account.
  • I have the right to cancel this account within 14 days of applying. If I do, all deposits and payments will be refunded, minus any administration fees or fees for services.
  • If I do not make any transactions for one year, my membership will become dormant. If I do not reactivate it, I will be charged a £5 annual maintenance fee. If my total balance is £5 or less when the fee is charged, then my full balance will be forfeited and my accounts will be closed.
  • If I decide to leave SYCB and end my membership, I will withdraw the £1 Membership Share alongside any other funds in my savings.
  • If I break the terms and conditions of this account, or the general rules in the SYCB Credit Union Rulebook, SYCB may close my account and/or terminate my membership.
  • These terms may be varied from time to time, and I understand that I can find the current version, as well as the Credit Union Rule Book which details other requirements of membership, online at sycb.co.uk. I can also request copies of these documents via phone, email or post.

Funds in the Membership Share account are covered by the Financial Services Compensation Scheme, which protects deposits up to £120,000 in the event of the failure of SYCB. For more information visit www.fscs.org.uk. 
In addition to these terms, more details on how we will manage your account can be found in the New Joiner Information pack, Privacy Policy and FSCS Information Sheet. If you have not received these documents, or would like another copy, please visit sycb.co.uk or contact us by phone on 0114 276 0787, or email at admin@sycb.co.uk.