JOHN’S BLOG – DECEMBER 2020

We’ve had an extremely busy autumn season here at HEY Credit Union, so here’s an update for you on what we’ve been up to:

 

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:

·        Kingfisher Café, Bridlington
·        Driffield & Wolds Food Bank
·        Goole Foodbank’s Christmas Toy Appeal
·        The Forge Project, Scunthorpe
·        Shores Community Pantry, Withernsea
·        Beverley Cherry Tree Community Pantry

·        Hull Trades Council Unity Shop Food Bank

 

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.