COVID-19 - Stafford Railway Building Society

Apr 17, 2020

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Message from the Chief Executive – Updated 17 April 2020

As announced by the Prime Minister on 23rd March 2020 the UK must do all that it can to reduce the spread of coronavirus.

The Stafford Railway Building Society, as an essential business, will remain open to members but we will need to observe requested controls and operate in accordance with our social responsibilities during a minimum of the next three weeks. These are to protect staff and members alike.

Please be reassured we have comprehensive and robust plans in place, designed to mitigate and manage potential disruption to our service, and we have undertaken significant work to minimise any disruption to our services in a further escalation of the Coronavirus outbreak. 

The Society has a very strong liquid and capital position.  When we plan our liquidity and capital, we consider potential market stress, including widespread market uncertainties.  Thus we are well prepared for the current situation and extended market turbulence.

Eligible depositors with Stafford Railway Building Society also have the additional comfort of cover provided by the Financial Services Compensation Scheme (FSCS).  This provides compensation of up to £85,000 for eligible depositors.

On behalf of everyone at The Stafford Railway Building Society, we thank you for your cooperation, support and understanding at these challenging and unprecedented times.

Following the Government's announcement on 16th April 2020 that Social distancing must continue for at least a further three weeks, we will continue with our revised and reduced operational hours. Our staff continue to work remotely where possible and we are grateful for those members who are making only essential journeys to our branch. 

Please stay safe.

Kind Regards,

Michael R Smith

Chief Executive Officer

Branch (Savings)

The branch will be open Monday - Friday between 9am and 1pm for essential services and will be for the deposit and withdrawal of funds only.  We will be closed on Saturdays.

In the short term, we will not be opening new savings accounts between these times but you may drop off completed application forms available here and a cheque into our letter box located at the side entrance on Bank Passage.

Alternatively you can post your form to us directly at

The Stafford Railway Building Society

4 Market Square

Stafford

Staffordshire

ST16 2JH

Mortgages

Payment Holidays

If you wish to make use of a mortgage payment holiday during this difficult time, you can either telephone us during our revised opening hours (Telephone 01785 223 212) or we can process your request from the following:

  • A letter quoting your name, address and mortgage account number
  • Briefly stating you are requesting a payment holiday and the reason why
  • Signed by all parties to the mortgage
  • We will accept a scanned image or photograph of the document (taken by camera phone)
  • Where possible, encrypt the message with a password (emailed separately) and send to mutual@srbs.co.uk

We will send correspondence confirming the request has been actioned and contact you in the month before your payment holiday will end, to discuss your circumstances.

Mortgages

We will endeavour to conduct all mortgage appointments via telephone until further notice. Our Mortgage advisers are based at home and have use of all technology to complete this process. During this time previously printed literature (ESIS & application forms) will be sent via email only which will be encrypted with a password.

Mortgage Processing

We will continue to process outstanding mortgage applications wherever possible, but we ask for your understanding that 3rd party organisations are closed or operating on a restricted basis.

Intermediaries

Our Business Development Managers and processing team are available and are working from home. We are still available for new enquiries, telephone calls and also mortgage applications through our Broker Portal.

If you would like to speak with our intermediary team, in the first instance, call Emma Parker on: 07506 906525.