JOHN’S BLOG – JULY 2019
Our first 20 years
Your
credit union celebrated its 20th anniversary last month, and we were
delighted to welcome the Deputy Lord Mayor of Kingston upon Hull, Councillor
Lynn Petrini and her consort, Mr Graham Petrini, to our Hull Central branch on
Brook Street. Our guests took the time to speak with staff, directors and
members about what the credit union means to them. As we were founded with the
support of Hull City Council, it was fantastic for us to have the City’s Deputy
Lord Mayor visit us to commemorate our anniversary, and we really appreciated
her coming along. We made sure she got the first slice of cake as a thank you!
We
were founded on the 10th June, 1999, and we’ve come a very long way
since. Here are some key facts to show just how far:
·
We
now have over 13,600 adult members, plus 1,400 junior savers across the Humber
region and beyond;
·
Our
members hold savings in excess of £10 million, and loan balances over £5
million;
·
Since
our foundation, we’ve granted 55,500
loans to our members, to the value of £38 million;
·
Without
us, many small borrowers would have resorted to high-interest credit, doorstep
lenders or loan sharks. We estimate we have saved them over £18 million in interest!
·
Since
1999, we’ve shared out £1 million in
surpluses to our members as dividends. That’s money earned that has gone right back
to our members and supported our community, showing the power of co-operation!
On
a personal note, and as a founder member myself, I’d like to thank everyone who
has devoted their time and effort over the years to making this credit union what
it is. Together, we can be proud that we’ve had a genuinely positive effect on
the financial wellbeing and independence of our members – long may it continue!
BBC Radio 4 Money Box
On
Saturday 6th July, a member of HEY Credit Union was interviewed on
BBC Radio 4’s weekly finance show, Money Box, hosted by Paul Lewis. Ashleigh explained
how she had benefited by taking out a Child
Benefit Loan & Savings Plan with us.
She was very complimentary about how it’s enabled her to borrow for
life’s unexpected expenses at a fair rate, while also gradually building up a
savings cushion too.
Our
Child Benefit loans are really popular with our members, as they allow you to
apply for up to £500, at a fixed interest rate of 3% per month on a reducing
balance. It’s a great way to smooth out
the lumpy costs of things like Christmas and back to school. If you’re in receipt of Child Benefit
payments and would like to know more, you can do here.
Also
on the programme was ABCUL’s Head of Policy & Communications, Matt Bland,
who said of credit unions, “We’re innovating to provide a facility that works
with the finances of households up and down the country”. It’s this approach – working with our members
to provide services that they need – that provides our inspiration and has done
so for 20 years. Well said indeed!
Yellow Yorkshire day
We recently announced our
new charity partner for this year, Yorkshire Air Ambulance. They provide a vital service across our region by saving lives. Many
people in our part of the world have come into contact with YAA at some point,
and so we’re delighted to be able to help raise funds for such an admirable
cause. That’s why last Friday, 5th July, we turned our offices
yellow in support of Yellow Yorkshire Day, holding raffles and fundraising
competitions too. Later this month Goole
branch is devoting its annual Cupcake Day to the cause (19th)
and your CEO and staff colleagues are doing a 20km sponsored walk (29th).
Thanks everyone for your support!
Credit Union event in Parliament
As co-operatives, credit
unions know the potential and benefits of working together for a shared goal.
That’s why we were delighted to attend the All Party Parliamentary Group on
Credit Unions at Westminster, together with credit union colleagues from across
the country and representatives from the government and Lloyds Banking Group.
Lloyds have long been a supporter of credit unions, with more than £5 million
already donated to credit union growth and sustainability since 2014. Our President, Andy Stankard and I met with
local MPs Diana Johnson (pictured) and Graham Stuart at the event and left with
many exciting ideas to ponder over to help HEY Credit Union to remain
successful for another 20 years.
Competition Time!
What’s a birthday without
a celebration? To commemorate our 20th birthday this year, we’ll be
running some competitions and events for our members to take part in and share
in the celebration. Be sure to follow us on our social media channels for more
details, including some great prizes up for grabs!
Thanks again for your
continued support,
John
CEO, HEY Credit Union
