JOHN’S BLOG – FEBRUARY 2018

We are only into February but there’s lots going on at HEYCU to tell you about already:

RENEWABLE ENERGY POWERS NEW PARTNERSHIP

We are celebrating our new energy efficient status after installing solar panels, LED lighting and internal insulation as part of a new partnership with Co-op Energy.

Our Brook Street headquarters in Hull city centre now boasts 22 solar panels on the roof, along with new LED office lighting and internal insulation, provided by Co-operative Energy Saving.

Each solar twin peak panel has the capacity to produce up to 265w, meaning the new installation could create nearly 5,000kWh a year, saving up to £800 per annum.

Co-operative Energy Saving aims to help combat climate change by helping individuals, community groups and small businesses to reduce their energy consumption and bills.  This fantastic initiative has made us realise that, even as a relatively small organisation, we can play an important part in tackling climate change. It is an issue that we know our member-owners are very passionate about.

Martin Cook, Affiliates Manager at Co-op Energy, said: “One of our main goals as a co-operative is to help create a more environmentally-friendly and sustainable world, and working closely with like-minded individuals, communities and organisations is an essential part of this.

“Our project with Hull & East Yorkshire Credit Union shows what can be achieved when we work collaboratively to help shape the future of energy generation.”

NOW OUR CHRISTMAS SAVER PRIZE DRAWS ARE MONTHLY!

We’re so thrilled with the big increase in Christmas Saver accounts this year that we’ve decided to have a special Prize Draw once a month to encourage members to keep on saving!

At each month end we’ll draw a winner at random from all who have paid into their Christmas Saver account during that month.  So, remember to make at least one deposit per month and then you’ll qualify to be entered in every draw.   You’ll also be very glad when Christmas comes along and you have lots of money to draw upon, for a stress-free festive season.

Our first prize winner – in January – was Gemma Smirk of Kingswood, who is the proud owner of a new food blender, to get her new year off to a healthy start. 

February’s prize will have a Valentines’ theme –maybe the winner could be YOU?

WELCOME TO NEW MEMBERS AT LEBUS

We were delighted to welcome eight new members at Lebus Upholstery, the furniture makers in Scunthorpe where we have a payroll partnership. Lebus workers can save and borrow with us direct from their pay, thanks to their enlightened management who offer them this fantastic staff benefit. 

Workers who use this service say they don’t miss the money, as it comes out before they get paid and goes into a savings account with us.   It’s a great way of “secret saving” for a special holiday or treat for a family member.   It’s also easy to change the amount – up or down – but many members just keep it the same year after year, building up a nice nest-egg for later in life.

Does your employer offer payroll deduction to our credit union?  If not, why not ask them to?   Employers simply contact us to find out how to operate it – and it’s really easy to administer.  If you can convince your employer to offer this benefit, we’ll reward you with £50.

CENTRE4 LAUNCH NEW SAVINGS CLUB TO HELP RESIDENTS PLAN AHEAD

Grimsby’s MP, Melanie Onn, helped us launch a new partnership for the people of North East Lincolnshire on Friday 23 February.  The Christmas Savings Club has now started at Centre4, the well-used community hub at Wootton Road, Grimsby.

Local residents will be able to pop into Centre4 to deposit small amounts of cash at a convenient time, giving them access to our credit union as a welcome alternative to payday loans, doorstep lenders and even illegal money lenders operating across North East Lincolnshire.

Linda Dellow, Chief Officer at Centre4 said, “We are delighted to offer a Christmas Savings Club from Centre4. We fully understand the financial pressures facing some people and how difficult it can be to budget from week to week, never mind keeping money back for Christmas. A Christmas Savings Club can help people put small amounts of money away on a regular basis and give them access to a savings fund at what is always an expensive time of year”.

For a limited time, a £10 bonus is available to anyone opening an account. The Christmas Savings bonus is provided by the Stop Loan Sharks project as a further incentive for people to develop a savings habit and keep away from high cost, high risk lending.  It is funded using proceeds of crime money; cash that has been seized from loan sharks under money laundering laws.

Tony Quigley, Head of the Illegal Money Lending Team, said:
“We’re pleased to be working with Centre4 and Northern Lincolnshire Credit Union to launch this new incentive, which will see loan sharks’ cash being put to good use, to sponsor new Christmas savings accounts.  Loan sharks prey on the most vulnerable members of our communities and extort them out of hard earned cash. If you have fallen victim to an illegal money lender, we urge you to contact us on 0300 555 2222 or www.stoploansharks.uk. We will take information anonymously and in confidence.”

HORNSEA WANTS A CREDIT UNION

I took a call from Councillor John Whittle of Hornsea in East Yorkshire the other day.  His enquiry was an all too familiar one these days, sadly.  The town of Hornsea (population 8.000+) is losing its last High Street bank in May.   After that, residents won’t have a local bank to pop into.   He asked whether the Credit Union could consider providing a service in the town.

Without funding, we would struggle to provide a high street banking presence in a town like Hornsea, but if we some enthusiastic volunteers came forward, maybe we could set up a weekly contact point, similar to those we operate in Driffield, Withernsea, Beverley, Howden and a few other places.   At least local residents would have somewhere to deposit savings and apply for affordable loans with a reputable organisation that cares for the local community – because we are owned by our members and exist solely to serve them, rather than make profits for City shareholders and bonuses for Fat Cat managers who I don’t suppose even know where Hornsea is.

Anyway, I’ve accepted an invitation to speak at Hornsea Town Council meeting on 5 March, so we’ll see what happens after that.  No promises, of course. 

SCHOOL BANK NEWS

Recently my staff colleague Jamie-Leigh issued our Spring-term Pennies 2 Pounds Newsletter to the schools where we have a volunteer run school bank.   She reminded everyone that mums, dads, uncles, aunties, grandparents and younger or older siblings can all save at the school bank, not just pupils.  It’s a popular way to get the whole family into the habit of regular saving so that money is available for Christmas, holidays, school trips, kit and uniform, birthday treats and so on.   Staff at most of our schools can also pay into the Credit Union direct from their salary.

The newsletter offers volunteers some useful tips for spreading the word about a school bank:

·        Ask about mentioning your school bank on the school’s website.  Some do this already but others don’t, probably because no one has suggested it.  It’s a good way to let the parents and wider community know when the school bank runs.  

·        Does the school produce a parents’ Newsletter? If so, perhaps they could include a short article about the school bank.

·        Hand out a flyer with an application form at the school gate (with head teacher’s permission).

·        Ask about sending flyers out with the children’s book bags.

·        Could someone offer to present an assembly in school, talking about the benefits of saving and looking after money, with some fun activities, music and rhymes?

We’re thrilled that Archie of Boothferry Primary School is our first P2P Saver to be awarded a Super Saver Certificate and P2P lunch bag.   He has saved with us regularly since the school bank opened in 2013 and reached an amazing personal savings target.

GOOLE & DISTRICT LOCAL MEMBERS’ GROUP

Our second meeting was held at The Courtyard, Goole on 31 January.  It was well-supported and we welcomed two new members.   The Know Your Credit Union Quiz was great fun and members were amazed to learn that since we were formed in 1999, our Credit Union reckons to have saved the people of Hull and East Yorkshire over £13 million by providing loans cheaper than doorstep lenders.   Jean Taylor and Janet Sowden won prizes for the most correct answers.

We discussed lots of ideas for improving the Pasture Road Credit Union branch, at modest cost.  We already have a play table to keep the little ones amused while parents make their transactions, and there are exciting plans to freshen up the décor, make better use of the back room and install a new sign.  We’re grateful to members of the Group for their suggestions and offers of help.

Since the meeting Councillor Pat O’Neil came to spend a day in branch with Jo and it was a great pleasure to have her company.  Pat was amazed at the variety of ways in which we try to help the people of Goole to make the best use of their money.   We have recently started to promote our partnership with Co-op Electrical, which lets members obtain domestic appliances much cheaper than certain weekly payment stores.  And they give a choice of delivery times!

VISITS TO DWP OFFICES

I’ve planned some visits to DWP sites over the next two months, to recruit more members, meet our Workplace Champions and say hello to existing members across the wide area we serve.  On 13-14 March I’ll be at Glasgow, Paisley and Motherwell.   April sees visits to Stockton-on-Tees, and possibly Seaham in the North-East, and also some offices in West Yorkshire. 

It was fascinating to learn that we were featured in a question in Parliament, when it was revealed that the three credit unions serving DWP staff (CommSave, Voyager Alliance and HEYCU) had enrolled 3,800 DWP members and provided them with loans of £4 million since July 2016.

A busy few weeks lies ahead, as we will also be launching a new payroll partnership to provide our popular savings and loans service to the staff of North East Lincolnshire Council. 

HULL’S HEADSCARF REVOLUTIONARIES

Did you see the BBC4 documentary about the group of Hull women who, 50 years ago, fought for decent health and safety at sea after 58 men lost their lives in the Triple Trawler Tragedy of 1968?

Deep sea fishing was the city’s most dangerous industry, with frequent loss of life, and many thought that nothing could be done about it.  Not so, “Big Lil” Bilocca and her friends, whose determined and ultimately successful campaign to stop unsafe trawlers from going to sea, in the face of stiff opposition from owners and sometimes the menfolk themselves, earned them the title “Headscarf Revolutionaries”.   It’s another example of the “power of the people” that makes us so proud of our home city. 

CHILD BENEFIT LOAN & SAVINGS PLAN

This is rapidly becoming one of our most popular products, with several hundred families now regularly having their Child Benefit paid into the Credit Union.   It’s a really simple and sensible way of combining saving and borrowing to make the most of your money.   A loan of £500 over a year costs just £12 a week, which means that someone receiving Child Benefit of £21, could save up to £470 a year just by leaving it in to mount up, say for use at Christmas.  Find out more.

JOHN’S BLOG – APRIL & MAY

There’s still a lot going on at HEYCU as we approach the warmer season, which brings the traditional upswing in our loans business as members get busy with their DIY and finalise their holiday plans...

National Champion Award from IMLT

We were very thrilled to be chosen as a National Winner of an Award from the Illegal Money Lending Team (IMLT) in recognition of the work we’ve been doing over the past year to raise the community’s awareness of the dangers posed by unauthorised lenders, or “loan sharks”.    Our award was presented by the IMLT mascot “Sid the Shark” at Boothferry Primary School in Goole, where much of the partnership activity has been co-ordinated by Jo Evans, our Development Officer.  Mike Sibley, the very supportive Head Teacher, and I were interviewed by Radio Humberside and the Goole Times were present to record the occasion.   You can read about the work we have done at Goole, and on the Greatfield Estate in Hull, on our website.

Tony Quigley, Head of Service for the England Illegal Money Lending Team said: “Well done to all our winners and ‘highly commended’ runners up in the National Champions Awards 2016. You have all contributed to making a difference and tackling this crime in your community. Loan sharks are a scourge on society and cause harm and misery to their victims. If you or someone you know has been a victim of a loan shark, we urge you to get in touch with IMLT on 0300 555 2222. You call will be handled by a trained officer and all information will be treated in the strictest confidence.”

Nationally, Illegal Money Lending Teams have secured more than 370 prosecutions for illegal money lending and related activity, leading to nearly 318 years’ worth of custodial sentences. They have written off £71.9 million worth of illegal debt and helped over 26,500 people.

DWP Payroll Membership

It is a pleasure to see our membership among the DWP staff community steadily growing and many of those members are already increasing their monthly savings and thinking of us when they require a loan.  At the time of writing we are about to sign up our 1,000^th DWP staff member, which is a tremendous achievement in just 9 months. 

During April I visited two sites in Scotland where we have lots of members – Falkirk and Dundee – and greatly enjoyed meeting many of them as well as signing up some new ones.  Everyone was so friendly and helpful and it was good to see how keen they were to support our credit union.  As it was a “working break” I found time to take a walk to see the impressive Falkirk Wheel, have a stroll through Callendar Park, and have a look at the waterfront regeneration taking place in the very friendly city of Dundee.   I am sure I will be back before long.

Winterton residents can earn £10 bonuses

We now have a weekly contact point in the North Lincolnshire town of Winterton.  It is open every Wednesday inside Winterton’s Co-op food store from 12 noon and is run by our staff colleague Patrick. 

Just like at our other contact points in places like Driffield and Withernsea, local residents can join our credit union there, make savings deposits into adult and children’s accounts and find out about our responsible loans.

As an opening offer, we are giving £10 bonuses to Winterton area residents who sign up to save with us.   The offer will close when the first 50 bonuses have been awarded.

We are meeting the local Residents Group and members of the Town Council this month to explain how the credit union helps everyone who joins to make the most of their money.

Fairbanking Foundation to survey our members

We are keen to gain some feedback from those of our members who have taken out a CU Loan, to help us to improve your experience in the future.  The Fairbanking Foundation and Ipsos MORI are working with us to conduct a survey over the next few weeks, so if you are contacted to take part, please be assured that it is a genuine approach and we would very much appreciate your voluntary participation.  No personal financial details will be requested from you as part of this survey. 

Our Region in the News

Good to see the City of Hull getting mentioned on the BBC regularly with updates on our City of Culture activities.  The Weeping Window display of poppies at the Maritime Museum has really drawn the crowds following the departure of The Blade, while the play The Hypocrite played to sell-out audiences at Hull Truck Theatre.  The range of events and activities never ceases to amaze and it is fantastic that so many new visitors are being attracted to Hull and the surrounding region.  This weekend the third Tour de Yorkshire Cycle Races departed from Bridlington once again, wending their way through our beautiful East Riding countryside en route to Scarborough, again witnessed by mass crowds all along the way.  Long may the popularity of our region continue!

Grosmont Co-operative Society

It’s always interesting to learn about other co-operatives and so my eye was drawn to an article in the Dalesman magazine marking the 150^th anniversary of one of the smallest co-ops – the village shop in Grosmont, which apparently is the oldest consumer co-operative in Britain still in existence.  If you have taken a trip on the North Yorkshire Moors Railway you will have seen or even popped in to their well-stocked shop facing Grosmont station. You may not have realised that it’s a member-owned business just like ours.  Congratulations to them, and here’s to their next 150 years!

General Election

The recent announcement of a General Election on 8^th June took many of us by surprise as did the news that Hull West & Hessle’s MP Alan Johnson had decided not to seek re-election.   As well as serving the country with distinction in the last Labour Government, for 20 years Alan was an outstanding and highly respected representative for our city.   The keynote speaker at our launch event in Hull Guildhall in 1999, Alan has been a loyal member and good friend to us here at HEYCU ever since.   We hope the region will continue to benefit from his wisdom and experience and wish him all the best for the future.

Five Steps to Stopping Financial Fraud

We all know that financial crime is on the increase, so it’s good to see the Co-operative Bank issuing some sensible advice to help people guard against the fraudsters who try to trick us out of our money.  The advice is headed “It pays to take time; take five to stop and think”:

1          Never disclose any security details, such as your PIN or banking passwords or share them with anyone.  Banks, credit unions and other trusted organisations will never ask you for these by email, phone, text or letter, so unless you are 100% sure of who you are talking to, don’t disclose.

2          Don’t assume an email or phone call is authentic.  Just because someone knows your basic details, or tries to convince you that you have been a victim of fraud, it doesn’t mean they are genuine.

3          Don’t be rushed or pressured into making a decision.  No bank or credit union would force you to make a financial transaction on the spot or ask you to transfer money to another account for fraud reasons.  Stop and take time to carefully consider your actions.

4          Listen to your instincts.  If something feels wrong, it is usually right to question it.

5          Stay in control – have the confidence to refuse unusual requests for personal or financial information.

If you think there has been fraud on your card or bank account, contact your bank immediately.

New Flexi Credit service for our payroll members

We have started a new service for those members who pay into the credit union regularly by payroll deduction.  It’s called Flexi Credit and it’s designed to help those members who have a sudden need for extra funds, for example to pay for unexpected car repairs or to fix a boiler.   Payroll members who have worked for their employer for at least 12 months can apply for pre-approved credit limit of up to £2,000 to be held on their account and accessed when they need it most.   Interest is only paid on the funds drawn down, not on the full credit limit.  The repayments – made direct from pay – remain fixed no matter how much is drawn, so you can stay in control of your outgoings.  What’s more, the members can continue to save with us, alongside their loan repayments, which is a very popular way to manage your money.   Full details of Flexi Credit may be found here.

Spring Forward with a CU Loan

At this time of year, there are lots of exciting projects to be cracking on with, whether it’s home or garden improvements, a new set of wheels, holiday plans or perhaps a special family celebration.  Here at HEYCU we hope our members will think of us first when looking for financial support.  We have some very competitive deals to offer members seeking a CU Loan this spring.   Please check out our website for more details.  

Remember, with a CU Loan:

·         No set up charges

·         No hidden costs

·         No early settlement fees

·         Interest is only charged on the reducing balance

·         You don’t have to bank with us to get a competitive CU Loan.