Following our merger with Sheffield Credit Union last year, we are taking the next steps to unite our two credit unions. On Monday 20th July 2026:

• We are changing our name to South Yorkshire Community Bank, with a new logo and new look. 
• We’re also merging our systems, which means LASER members will have a new membership number, website at sycb.co.uk and need to use our new South Yorkshire Community Bank app from Monday 20th July. 
• There will be a short period of downtime when the two credit union systems are integrated from Thursday 16th July at 4pm until Monday 20th July.

What is changing on Monday 20th July 2026?

Our systems:

We are merging all LASER Credit Union members and accounts on the same systems as Sheffield Credit Union. This is so that we can create a bigger and better organisation for everyone. That means LASER members will have a new membership number for South Yorkshire Community Bank.

There will be a short period of downtime when the two credit union systems are integrated from 16:00 on Thursday 16th July to 10:00 on Monday 20th July. During this time, you will not be able to access your savings or loan accounts.

Our name and look:

Together we will become South Yorkshire Community Bank, with a new logo and colours.

Why are you merging our systems?

Following the merger of Sheffield Credit Union and LASER Credit Union in 2025, we are now formally bringing together the two organisations under a single brand, South Yorkshire Community Bank.

Merging our systems means we will be able to operate as a single brand, offering the same services to everyone equally. It will also help us to manage our costs, which is important for every member to invest in better services and/or pay more in dividends over the long term.

Will this affect my service?

There will be a short period of downtime from Thursday 16th July at 4pm until 10am Monday 20th July when we integrate the two systems.  

The branch will also be closed for renovations from 15th July, reopening on 20 July. You will be unable to withdraw cash during this period. To help mitigate this we have increased our limit for cash withdrawals on 13th and 14th July.

Members will be kept informed about this throughout.

You will still be able to access your accounts online on 15th and until 4pm on 16th July.

Other than that, the day-to-day service of your accounts will not be affected. Our phone number, address and opening times will remain the same and you will be able to use both our Rotherham and Sheffield branches, whichever is more convenient. Please note that our Sheffield branch does not have cash available. 

If you use the LASER app or online services, you will need to switch to the South Yorkshire Community Bank app or online services from 10:00 on Monday 20th July as the LASER app and online services will no longer be accessible from 4pm on Thursday 16th July 2026.

You will receive your new membership number on 13th July, please keep it safe and to hand. On Monday 20th July, we will invite you to register for the South Yorkshire Community bank app and online services.

Will my login details or password change?

• You will need to register for South Yorkshire Community Bank online services from 20th July.
• Your passwords that you use when you call us will stay the same. 

Will I still be able to make deposits or withdraw from my LASER savings accounts?

• You will be able to make deposits and withdraw from LASER savings accounts until 4pm on Thursday 16th July.
• You will not be able to make deposits or withdraw from savings accounts after 4pm on Thursday 16th July until Monday 20th July.
• Your LASER savings account(s) will be transferred to the new system and you will receive a new membership number on Monday 13th July.
• From 20th July, you will be a member of South Yorkshire Community Bank. Your savings balance will be the same as it was before and you will be able to make withdrawals and deposits via our new bank account information below:

If you need to make deposits or withdrawals before Friday 17th July please do so as soon as possible. 

Can I still make repayments to my LASER loan accounts?

• You will be able to make repayments to LASER loan accounts until 4pm on Thursday 16th July.
• You will not be able to make payments after 4pm on Thursday 16th July until Monday 20th July.
• Your LASER loan account(s) will be transferred to the new system and you will receive a new membership number.
• From Monday 20th July, you will be a member of South Yorkshire Community Bank. Your loan balance will be the same as it was before and you will be able to make payments via our new bank account information below:

Please continue to make all payments as normal until those dates. 

I have a payroll loan and my payments are usually made between 17th and 19th of the month. What will happen to these payments in July?

We are writing to all payroll partners to let them know of the change. They will still deduct your payments from your pay as normal and send us payments at the right time. If your payments are usually made between 17th and 19th, they will be made on 20th to South Yorkshire Community Bank. If they are usually made on 20th, they will be made as normal but to South Yorkshire Community Bank.

Will my terms and conditions change once my membership transfers to South Yorkshire Community Bank?

No. All of your loans and savings accounts will remain the same.

Will I be eligible for old Sheffield Credit Union loans, savings and budgeting accounts?

Yes! Subject to the criteria and terms and conditions of each product, you will be able to apply for all of the products you will be able to see on our new South Yorkshire Community Bank website and in the South Yorkshire Community Bank app.

Over time, we hope to improve our products and services too.

How do I download the app?

On 13th July, you will receive your new membership number. From Monday 20th July, you will be able to access your accounts in the South Yorkshire Community Bank app. Prior to that date, you should continue to use the LASER app. Until Monday 20th July, your new app will still be called Sheffield Credit Union. You are welcome to download the Sheffield Credit Union app before Monday 20th July in readiness but you will not be able to use it until that date.

The app is available on both the Google Play and Apple App Store via the links below.

Google Play

Apple App Store

When will I receive my new membership number?

You will receive your new membership number on 13th July. To merge into the system your new member has been changed to add 100,000 so if your member number is 100, your new member number would be 100100.

Do I need to pay off my loans before you merge systems?

No. All of your accounts will be transferred and everything will be the same other than your membership number and our name, website and app.

Will my savings still be protected by the Financial Services Compensation Scheme?

Yes! Your savings will continue to be covered by FSCS.

How can I contact you following the merger of systems and launch of South Yorkshire Community Bank?

Our phone number, address and opening hours will stay the same. We will have new email addresses @sycb.co.uk from Monday 20th July. We will give you all of our new email addresses on 20th July.

You will also be able to use our Sheffield branch from Monday 20th July. Please note that our Sheffield branch does not have cash available. 

Can I apply for membership, a new loan, or savings account with Sheffield Credit Union?

If you are currently a member of LASER, you should not apply for membership, loans or savings accounts with Sheffield Credit Union.

If you are not currently a member of LASER, but would like to join before Monday 20th July, you should join Sheffield Credit Union. 

What is the maximum loan I can apply for with South Yorkshire Community Bank?

As a member of South Yorkshire Community Bank, you can apply for up to £15,000, which is double the current £7,500 available at LASER. However, this will be subject to the usual credit and affordability checks.

What is the maximum I can save with South Yorkshire Community Bank?

You can save up to £25,000 with South Yorkshire Community Bank.

I repay my loan using my Child Benefit. Will this change?

No. Your loan will operate exactly as it does now.

I save as I borrow as part of my loan agreement. Will this change?

No. Your loan and save to borrow will operate exactly as it does now.

I have moved out of the area since I became a member of LASER. Will I still be able to be a member of South Yorkshire Community Bank?

Yes! Once you have been a member you can always be a member and this lifetime membership will transfer to South Yorkshire Community Bank.

Will dividends change once accounts are transferred to South Yorkshire Community Bank?

No. Dividends were paid in the same way for both LASER and Sheffield Community Bank following the 2026 AGM and will continue to be assessed and paid in the same way going forward.