Thursday 14 April 2022
Thursday 12 August 2021
JOHN’S BLOG – SUMMER 2021
HOW
HAVE WE BEEN DOING?
At the end of June, we passed the three-quarter point of our financial year, which runs from October 2020 to September 2021. With all the turmoil affecting personal and business life, you may be keen to know how your Credit Union is faring:
·
Business has been
steadily returning to its normal seasonal pattern since Easter and we’ve
recently enjoyed a record inflow of loan applications of all sizes.
·
New member recruitment (net) is
around 34% ahead of the same period last year.
·
Members’ Savings – now totalling
£13.7 million – are up by 14%. Lots of
members have increased their regular savings as they were unable to spend
normally. It will be interesting to see
whether these funds flow out as the economy bounces back.
·
After a big fall in
demand for Members’ Loans (especially
for larger loans), we’ve now issued 28% more loans this year than over the same
period of 2020.
·
With income (mainly
loan and bank interest) a little higher, and costs well under control, we’ve
earned a higher Surplus (after tax and
dividends) than a year ago.
It also gives me and
the Directors some satisfaction that, despite the tough challenges our staff
and volunteers faced, we never failed to provide our members with a service for
even a day during the whole Covid period.
A big thank you to our fantastic team and to our members for your superb
loyalty!
OUR SPEEDIER DIGITAL JOURNEY
I asked Matthew, our Project & Systems Manager, to explain how we’ve
moved on apace with adopting new technology solutions to improve our members’
and colleagues’ experience. While some changes were brought forward
in 2020 to help us through Covid times, they form part of a longer term Digital Strategy that we’re developing,
in conjunction with our main software partners and other key providers.
On our Website, we’ve simplified the Become a Member section, making it easier for new members to join, whether to save or borrow, without having to click through lots of screens. Electronic IDV means applicants often don’t need paper documents to prove their ID and address. Our Web App, which lets members make transactions and apply for loans from any device, gains new users every week, with over 60% of members now using it regularly.
We’ve revamped our website Loan pages to make it easier to find the loan you want and added online forms
for our popular Family Benefit Plan
and Members’ Lottery.
We introduced a more user-friendly online loan application experience. A postcode look-up feature helps
applicants enter their home details correctly. Applicants receive emails
to keep them updated, giving them peace of mind and avoiding the need for
follow up calls. For us, it eliminates
manual paperwork and data input, helping to turn loans round even quicker (same
day sometimes).
We now use Open Banking during the loan assessment process, to
view an applicant’s bank account history and, when a loan is approved, we can use an electronic signature system, and a messaging facility to keep in
touch. On our website, there’s a chatbot called Jude, who answers
queries and provides information even when our offices are closed.
Technology has even transformed our meetings! Instead of our
Directors having to travel long distances to a central boardroom, they now use Go
to Meeting, connecting virtually from their own home or office, just as
members did for the 2020 AGM. Many business meetings are held this way
using various systems (Zoom, Teams etc).
We use Mail Chimp and Social
Media to tell our ongoing story and engage with members. Do make sure HEY Credit Union is “white
listed” on your email account to avoid our news dropping into your junk folder.
We collect data (analytics) to learn about the effectiveness of each activity,
what works well and what doesn’t.
PROGRESS IN BRANCHES
Unlike our major
banking competitors, HEY Credit Union isn’t planning to withdraw its branch
network. While many members happily deal
with us online or by phone, our walk-in branches offer a vital personal
presence, where local residents can call in to see our friendly teams
face-to-face. We know they are valued.
After some
temporary closures due to lack of staff cover (some colleagues had to look after family members or home-school their
children), all branches are now welcoming members back:
Goole and Driffield re-opened in March, with a
free raffle for all members popping in.
Driffield volunteers handled record deposits on their opening day and
their raffle prizes were provided by local businesses The CoZee Café and Raffles
Fruit Shop. Goole held a fund-raiser
for the Toy Appeal and Yorkshire Air Ambulance plus a Euro 2020
themed draw, with a super prize donated by Morrisons.
Bridlington branch was
given a mini-refit and painted inside and out, to greet members with a
sparkling new look when it re-opened, and a new team member – Helen - joining
Sarah. They have started a Bridlington
Members Facebook page – if you live in the area, please give it a Like, and
keep in touch with all the news!
Withernsea branch works
with the new Shores Community Pantry to make users aware of Credit Union
services; a Spring Newsletter went to all homes via Royal Mail and some cheery
window stickers were issued to local traders to show support for our Big Local
funded Credit Union Town project.
Scunthorpe and Hull Central branches remained open
throughout, but with restricted hours and Covid safety measures always in
place.
Finally, Grimsby/Cleethorpes is the only large
urban area (population 127,000) in our region without a branch. I am pleased to say we are seeking a suitable
town centre base and plan to be up and running very soon.
CREDIT UNION PEOPLE NEWS
It’s been a time of change on the “people” front, too, with our long-serving, first ever Finance Manager, Eddie Hotham, retiring at the end of March after 22 years’ service! John says, “We shall really miss Eddie; she started along with me as one of the founder volunteers back in 1999, and has been a constant presence, ever willing to take on new challenges, but always determined to keep our finances in good shape. We all wish her a long, happy and well-earned retirement.”
Two new members
recently joined our volunteer Board of Directors:
Terry
Dagnall is
a self-employed shop owner in Withernsea. He is passionate about improving
the East Coast town and getting a better way of life for its residents. A
member of Withernsea Big Local, a Town Councillor and Town Mayor 2017-20, Terry
is also a Director and Chairman of the Meridian Centre.
Matthew
Kelly
has nearly 20 years' experience working in social housing and currently serves
as Income Manager for Ongo Homes in Scunthorpe, one of our payroll
partners. He served on the board of Advice North Lincs and is a member of
the Institute of Leadership and Management.
On
the staff team, we welcome Lauren
(Branch Development) back from maternity leave after the birth of her daughter,
Eleanor. And Matthew Lloyd (Withernsea Branch) has been selected nationally to
take part in this year’s CU Futures,
a leadership development programme for young credit union professionals.
WE’VE BEEN OUT AND ABOUT…
Pleased to see our Social Impact Report getting some great coverage in around 20 newspapers and web magazines recently. The articles, tailored to each of the main towns where we have branches, explained how we’ve been helping people and families across the Humber Region, and beyond, to improve their financial wellbeing since 1999. Thank you to the local members who agreed to be interviewed for these stories, you did a fabulous job. Take a look at the stories here.
Some of you may have spotted us at the Hull Big Malarkey this year. This popular weekend festival, a celebration of arts, crafts and literature for young people organised by Hull Libraries, was held in East Park at the end of June and we were proud to sponsor it.
We’re also featured in the Hull & East Riding Mumbler, a much-visited online parenting community. Head over there to see our articles, ads and offers.
A SPECIAL VISIT
Finally,
in May we were honoured with a visit from the Lord Mayor of Kingston upon Hull, Councillor Lynn Petrini,
accompanied by Councillor Gwen Lunn.
They made two presentations, one to our staff team in recognition of the
way they’ve gone the extra mile to help the people of Hull during these
difficult times. Steve Verity, Acting
Branch Co-ordinator, accepted on behalf of all colleagues. And then, much to my surprise, they
presented me with an engraved tankard and Lord
Mayor’s Certificate in appreciation of my work for the community over many
years, as a local government officer, Co-operative Group director and first
ever CEO of HEY Credit Union. I was very
thrilled with my award and will treasure it always.
Don’t forget, we are here to help – please give us the chance. Here’s 3 ways to support us too:
· Leave a review on Trustpilot.
· Recommend a friend, family member or work colleague to join us.
· Vote for us in the Consumer Credit Awards – by 15 August – you could win £1,000!
Friday 15 January 2021
Planning a successful D-I-Y Project
Planning a successful D-I-Y Project
More of us than ever are spending our lockdown time tackling those Do-it-Yourself projects that we’ve been thinking about for long enough.
Whether you’re a complete
beginner or a seasoned Do-it-Yourselfer, it can be hugely satisfying to enjoy
the results of your handiwork. Often it
can be a great way to save some money as well.
Always keen to help our members to make the most of their money, we’ve put together some top tips to help you to make a success of your project:
Get inspired!
Think about what you are hoping
to achieve. What is your project
for? Do you want to add colour or
warmth to your drab living room? Maybe
you’re aiming to make life easier by rearranging your kitchen? Making extra wardrobe space for your clothes? Or modernising your bathroom fittings? Whatever you have in mind, Pinterest or
Instagram are good places to look for ideas and inspiration.
Do your research
Before tackling any project, you should take time to gather as much
information as possible about it. Read, research and watch tutorials to be
better prepared. Look around and see if anyone you know has done anything
similar. If they are enjoying their
finished work, they may be happy to share some tips about their
experience.
Set an overall budget for your project
Think how much you can afford. It’s important not to overstretch yourself,
as your enjoyment will be short lived if you end up with huge unexpected bills. Or if you have to leave it unfinished because
you run out of money. Shop around –
look on the internet to get an idea how much things cost and compare different
suppliers. Try to cost the whole project out, so that there will be no
surprises, before you start buying.
Perhaps a Credit Union Loan could help you by spreading the cost over a
reasonable period?
Divide your project into stages
Dividing your DIY work into stages may help you to decide what needs to
be done first and how much time you have to do it. If you are working on a tight budget, it
could also help you decide on your priorities.
Working in stages with clear time allocations gives you focus and
discipline, aiding you to complete your project in ideal time. You may need someone to help you with certain
tasks, so plan ahead to make sure they’ll be available at the vital time.
Buy some decent tools
You’ll most likely need to buy
some tools or equipment. Don’t
necessarily go for the cheapest you can find, as they may not perform to your
expectations. If you are new to DIY,
then simple, easy to use tools could be best.
And it might not be such a good idea to use Grandad’s 100 year old tool
kit! The tools may look strong and sturdy
but are probably worn and not as sharp or effective as a new set.
Learn how to use your tools and equipment
Be sure to follow the
instruction guides, as they contain sound advice on safety and good practice. For many items, there are handy online
tutorials that show you what to do. Some
of the well-known DIY stores have help available both for novices and more
experienced hands, both online and in-store.
Make a survey of the job
Before you start knocking walls
down, survey the DIY site and make a list of everything that will need doing. Do you need to move a light switch or socket?
Are there any pipes or cables in a wall that you’re going to alter? Where will you put the furniture and belongings
while the room is out of use? Where will you do your sawing, pasting and so on? Write down your plan of action – step by
step – so that you don’t forget any important tasks.
Buy everything you need before you start
Try to buy everything you need
at once, otherwise you may have problems if supplies run out. You might not be able to match up the exact
shade of wallpaper or the tiles you selected so carefully may be out of stock,
and you may have to pay extra for a small quantity. It’s not a bad idea to buy a little more
than you think you will need, to cover breakages or faulty estimating. It can be very stressful to run out of
materials near the end of the job and have to rush to the shops for a top up.
Don’t rush it
Finally, although you’ve made a plan and have a good idea of your intended timescale, take care and don’t rush your project. Hopefully, you’ll have done everything necessary to enjoy working on your project and soon you’ll be able to sit back and savour the fruits of your labour for a long time!
Good luck!
Monday 21 December 2020
JOHN’S BLOG – DECEMBER 2020
OUR THRIFTY CHRISTMAS SAVERS
This year’s Christmas will be very different for many of us, but one thing won’t have changed. Ever since 2007, we’ve been helping our members to lock funds away safely for the festive season in our popular Christmas Saver account. Despite temporarily unlocking the accounts this spring and summer to help those who were impacted by the pandemic, over 1,300 of our members managed to save up £869,644 this time round, and we started paying them out on 2 November. If you haven’t had a Christmas Saver before, now is the ideal time to start one for 2021. It’s worth noting that no major bank offers anything like it.
FIRST EVER VIRTUAL AGM A BIG SUCCESS
A lifetime in the Co-operative Movement has taught me the importance of the Annual General Meeting (AGM), where the members we serve can hold their directors and managers to account, ask challenging questions and cast their votes on various important topics. Our traditional December AGM, held in the impressive setting of Hull’s historic Guildhall, is a highlight of my Credit Union year and I know many of our members feel the same. We were therefore a little nervous about switching to an online alternative this year but, given the rules restricting large gatherings, there was little choice. We needn’t have worried. Although the directors and I missed seeing our members in person very much, we had some great feedback from those who logged on to our first ever virtual AGM on 8 December. I was especially pleased that we had members join in from every one of the seven towns where we have a branch, and even from Scotland!A big thank you to Jackie from the ABCUL Virtual AGM Service, who hosted and administered the meeting superbly! We can thoroughly recommend the service to any credit union planning an AGM.
REVIEW OF THE YEAR
At an AGM, our directors report to our members on how the past year has gone and set out their plans for the future. We’ve produced a quick-read summary here of our 2020 Annual Report.
COMMUNITY DONATIONS
On moving to a virtual AGM, we decided to donate the funds normally budgeted for the AGM room booking, members’ buffet tea, printed materials and so on, to a selection of organisations who support vulnerable people in the communities we serve. We were pleased to donate £150 each to:
· Driffield & Wolds Food Bank
· Goole Foodbank’s Christmas Toy Appeal
· The Forge Project, Scunthorpe
· Shores Community Pantry, Withernsea
· Beverley Cherry Tree Community Pantry
MEGA LOTTERY DRAW
HEY Credit Union’s Friendly Folk have made their Grand Christmas Draw and given 48 members an early Christmas present, with prizes totalling £1,750. The Members’ Lottery is drawn on the second Wednesday every month and you could be among the next batch of prize winners – but only if you’ve signed up to take part. Tickets cost £1 (deducted from your CU Membership Account each month until you tell us to stop). At least 60% of the ticket sales are returned to members as prizes over the year, the rest being donated to HEY Credit Union to help with advertising, training and admin. We’re now taking applications to join our Members’ Lottery fun in 2021 – here is a joining form.
SHORES BECOMES OUR LATEST PAYROLL PARTNER
The Shores Centre in Withernsea has become the latest in a growing band of employers
in our region to offer its workforce our unique Payroll Save & Borrow staff benefit. Shores employees can now save as they earn,
with deposits taken care of effortlessly straight from their pay packet. It’s a safe and flexible way to put money
aside knowing it’s there for sunny holidays or rainy days. The Shores Centre Chief Executive Jayne
Nendick, said: “It’s been a tough year
with the pandemic and we’ve all had to be more mindful of our finances, so we
are delighted to be working with the Credit Union to help support our teams in
making their money go further”. If
you are an employer and would like to find out more about this simple, free
wellbeing benefit, please click here or email info@hullandeycu.co.uk.
OUR FIRST SOCIAL IMPACT REPORT
We have recently launched our first ever Social Impact Report. We’ve always been clear that credit unions have a different purpose from banks and other financial service companies, as they are not run simply to make monetary profits but to make a difference to the lives of their member-customers, and the communities they serve. In short, they are about financial wellbeing, helping members to afford their lives and be better off as a result. HEY Credit Union has been around for 21 years, but how much difference has it actually made? That was what our member-elected directors wanted to find out, when they challenged me to produce this report.
I hope you will enjoy reading it and please give us some constructive feedback to help us improve future reports. By reporting on their social impact, credit unions can help to advance the cause of fair, affordable and co-operatively-run financial services, which we are so passionate about.
CHRISTMAS AND NEW YEAR OPENING TIMES
Remember, we are here for you but our branch opening
times will be a little different over the holiday period. Here
are the changes.
That’s all for now and for 2020, but I’ll be back with more news next year. Before I close, though, I’d like to say a big personal “thank you” to our HEY Credit Union staff, volunteers and partners for all their hard work. They have truly gone the extra mile to help and support our members this year in very difficult circumstances and I am so proud of them. The kind messages we often receive from members shows that they share my view.
I hope all readers will have the best possible Christmas, some time for a well-earned rest and be able to look forward to better times to come.