Who we are


St Machar Credit Union 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.

A credit union is a savings and loans co-operative run for and by its members. St Machar Credit Union operates within a specific area of Aberdeen City

(If you live or if your employer is based within the following areas you will be able to use the credit unions services, these areas include Seaton, Tillydrone, Woodside, Middlefield, Hilton, Heathryfold, Linksfield, George Street, Froghall, Powis, Sunnybank, Old Aberdeen, Cummings Park and Northfield)

Credit Unions operate under the same regulations as other financial deposit takers.

They are regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) and participate in the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service.


A steering group came together and started the lengthy process of starting a credit union, which would be the first in the Grampian region.

November 1990

The credit union opened at its main office in 22B Sandilands Drive, Woodside Aberdeen, AB24 2QA


Because of demand from residents in the Middlefield area the credit union widenend its operating area to take in the Middlefield area.


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


Due to members 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 also requested payroll deduction

November 2009

The credit union became recognised by the Department of Work and Pensions / HMRC as an authorised credit union able to accept benefits which are paid directly into the credit union

The credit union also moved premises from 22B Sandilands Drive, Woodside, Aberdeen, AB24 2QA to the new build at the Woodside Fountain Centre,  Marquis Road, Aberdeen, AB24 2QY

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, that the credit union widen its operating area to include Northfield, Cummings Park and Heathryfold

April 2013

Credit unions are now Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (As the Financial Services Authority ceased to operate)

May 2016

The credit union buys, refurbishes and moves into 433 Great Northern Road, Woodside, Aberdeen, AB24 2EU



The building is a renovated ex bank premises refurbished for the credit unions use.

Members have a reception area, members counters including ease of access, waiting area and two private interview rooms. A carpark is also available at the rear of the premises

Board and staff have meeting / training room, staff area and private processing offices