Below you will see the details regarding our merger. You will also find a Letter from our Chair of the Board which you will be able to view via PDF.
The Board of Derbyshire Community Bank (DCB), the trading name of Erewash Credit Union, has agreed to a merger with Chesterfield & North-East Derbyshire Credit Union (CNEDCU). This has been approved by CNEDCU’s members and we awaiting final authorisation from the Financial Conduct Authority (FCA).
CNEDCU is a well-established, community credit union based in Chesterfield. Like us, they serve people who live or work anywhere in Derbyshire or Derby City, although most of their members are based in the Chesterfield and North-East Derbyshire areas. They currently have:
CNEDCU will carry out what’s known as a Transfer of Engagements to DCB. This means all CNEDCU members will become DCB members, and:
Once completed, the merger will create a single, stronger credit union serving the whole of Derbyshire and Derby City. We believe this will:
You don’t need to do anything. The merger won’t affect your membership, savings, or any existing loans.
Under our rules, decisions like this are delegated to the Board. The members of CNEDCU have voted to approve the merger proposal through two special general meetings. We expect the merger to be finalised by September 2025.
If you have any questions, feel free to contact us at info@dcbank.org.uk
A letter from Our ChairThe interest rate and terms of any outstanding Chesterfield Credit Union loans will remain unchanged for the duration of the loan. If you take out a new loan, this will be with DCBank and the rates, terms and conditions may be different. Please familiarise yourself with the up-to-date loan terms & conditions.
You will need to register to access the DCBank service. To make this as easy as possible we are sending a registration code and instructions on how to register to all members. Look out for your unique registration code in your email.
Yes, the Chesterfield Credit Union office will remain open with the existing staff.
The Chesterfield Credit Union name will cease to exist. THIS DOES NOT MEAN THE CREDIT UNION IS CLOSING. We will continue to exist under our new name, Derbyshire Community Bank
Following the merger, all members will receive a new Member number. For most Members this will be very similar to their current CNEDCU Member number
You will need to use the DCBank sort code and account number with your new Member number and surname as the reference.
Payments made using the old Chesterfield Credit Union bank account will continue to be received as normal for the foreseeable future.
All Chesterfield Credit Union members will receive a new membership number. For most members, this will be similar to your existing CNEDCU member number.
You will receive an email with your new number. It is important that you use your new number when contacting DCBank following the merger.
Your Chesterfield CU account and transaction history will be merged into your existing account with DCBank. Your old CNEDCU account will close.
No, all payments which currently go to your Chesterfield Credit Union account will be received into your DCBank account.
The phone number will continue to work for a period of time. The Chesterfield branch staff will continue to take your calls on this number.
We have a general phone number for all members to use – 01332 348144
The Chesterfield Credit Union email address webmail@cnedcu.co.uk will continue to work for a period of time. We recommend Members contact us securely with the App or email us at info@dcbank.org.uk
If you have child benefit, other benefits, standing order or payroll deduction paying into your CNEDCU account then that will continue as usual. New loans after we merge may need new payment details. We will contact you with the new payment details and your new Membership number.
With DCBank you will have the opportunity to apply for a top-up loan. All loans are considered on our loan criteria and affordability checks.
As a community-focussed lender, we take all things into consideration and try to make as fair loan decision as we can. In some circumstances we may have to turn down a loan application, or offer a lower value if we can see that the loan may not be affordable, or could put someone into financial difficulties.
We will always explain why a loan is not offered and we will signpost to organisations that could help manage your money.
If your loan application has not been accepted, you might want to consider saving a small amount regularly with us to help get yourself back on track. It will help us build a relationship with you, so next time perhaps we can say yes.
You will need to contact your bank to give them the new account number and sort code, there is no need for a reference number on the amended standing order. Other than benefit payments, if you get payments from anyone else you will need to contact them and ask them to make the change.
Payments made to the old Chesterfield Credit Union account details will continue for a period of time.
Currently, DCBank has a Maximum saving limit of £20,000 per member
As a credit union, we pay a dividend based on our surplus each year. The dividend is approved by the member AGM. For the last few years we’ve paid 2% dividend to our members.
Your pledged savings will continue to be held until the loan ends or you take out a new loan. We call this your Holding Saver account. New savings will continue to be added as per your original loan agreement.
If you set up Goal Saver pots on the Chesterfield Credit Union app, you will need to set these up again in the DCBank app.
