JOHN’S BLOG – OCTOBER 2020

I am writing these notes soon after our credit union’s year end (30 September) and putting the finishing touches to our draft annual accounts, which have now gone off to the auditors.  It’s been a different kind of year, that’s for sure, but we have made some more progress, thanks to the loyalty of our members and the hard work of our team!

 

MAKING IT EASIER FOR OUR MEMBERS

Long before Covid hit our shores, we were planning some changes to the way we operate, to make it even easier to join, save, borrow, and manage your accounts with us.    Investing to improve our technology systems was a key goal of our 3-year Business Plan 2019-22, and we’ve been busy behind the scenes doing just that!   Here are some improvements we hope Members are now noticing:

1  We’ve replaced the old Members’ Area on the website with our new Web App

Old Members’ Area	New Web App
Not suitable to use on smartphones and tablets	Is easy to use on any device – desk computer, laptop, tablet, smartphone.
Only showed balances correct to the end of the last working day	Shows correct balances on all your CU accounts 24/7
Didn’t let you make withdrawals	Enables same day withdrawals to your designated bank account
Didn’t let you apply for a loan	Apply for a loan at the touch of a button
Didn’t let you send an enquiry, change your payroll deduction or amend personal details	Allows all those

Over 40% of members have registered to use our Web App.  If you haven’t done so already, here’s how.    If you need more help to register or get started, or if you are having problems with the Web App, don’t hesitate to call us on 01482 778753 (M-F) – our friendly team will offer you some kind and patient help to sort it.

2  We’ve introduced a new Online “Join and Borrow” system

Now, when you apply online for a Credit Union Loan, or to become a Saver with HEY Credit Union, you’ll find the application process simpler and speedier.   We’ve introduced:

·       An easier to complete online application form;

·       A more streamlined process for providing supporting information (in many cases you may not need to provide documents at the time of applying);

·       Better feedback by email to let you know the progress of your application (but you must register a valid email address with us to allow this and check your spam folder if you don’t hear back);

·       A secure signing facility for top up or repeat loans;

·       Same day despatch of funds for approved loans to your bank.

3  We now take Loan Applications by telephone

With branches operating in a more restricted way, we wanted to ensure that members who prefer a more personal service were not deterred from applying.  You can call 01482 778753 from 10 am to 4 pm Monday to Friday to apply.

 

BRANCH NEWS

Our branches in Hull, Scunthorpe, Bridlington, Goole and Withernsea are all open again (for times see here), operating in a Covid-safe way.   It’s been lovely to welcome members back into branch as our staff team have missed them.  They also appreciated the kind messages of support that many members sent.

I am happy to announce that Driffield branch will reopen from 8^th October, every Thursday from 9.30 am to 12 .30 pm in the Council Offices, Market Walk.   Beverley Cherry Tree branch will also reopen very soon.

 

CHRISTMAS IS COMING!

Loans

We know Christmas will be different this year, with possible restrictions on family gatherings
and many of the festive events that we always look forward to unable to take place.   But I am sure we’ll all do our best to give our families and friends the best possible time.

Here at HEY Credit Union we’re already busy helping our members to plan a wonderful Christmas.  Since the start of September, there’s been a big influx of Loan applications, suggesting that members are anxious to get their Christ
mas shopping sorted much earlier than usual. 

We have a fantastic Refer a Friend Offer to tell you about.  If any Member refers a friend or colleague to apply to us for a Christmas Loan, we’ll enter both of you (Member + Friend) into our super Prize Draw to each win a £50 SHOPPING VOUCHER.

There’s lots of great reasons to Refer a Friend to apply for a Christmas Loan with us, so don’t delay, do them (and yourself) a favour and do it today!

Savings

Our Christmas Saver accounts will be open for withdrawals from 1^st November.  From that date, you’ll be able to arrange transfers to bank direct via the Web App too.   Our thrifty members have once again saved up nearly £1 million in this popular account. Together, we’ve got Christmas sorted!

 

OUR MEMBER SURVEY

Thank you to all members who kindly gave us feedback in our 2020 Member Survey.  While the number of replies was much lower than in 2019 (probably you had other things to think about!), their tone was just as encouraging.   Here are some highlights:

·    98% said they are likely to recommend HEY Credit Union to people they know;
·       78% thought it important that HEY Credit Union has a branch presence in various parts of our region;
·       72% said Covid hadn’t impacted very much on their interaction with us.
·       The feeling that we are ethical, local, friendly and different from corporate banks came over strongly.

You can read a summary of responses here.

I have replied personally to those members who raised specific queries or concerns.  One wrote back to express surprise that we actually read their comments!   Well, that’s the Credit Union difference.  As member-owners we always value your feedback and try to help if we can.

 

CHILD TRUST FUNDS START MATURING

The Government gave children born between 1 September 2002 and 2 January 2011 money in a Child Trust Fund (CTF) to encourage them to save for the future.  

Those turning 18 up before 31 August 2021 can now start to access their CTF cash.  As one of the CTF providers, with over 220 accounts and £200,000 saved, we’ve already paid out our first two!   We are proud to have helped the young people in our region to start their adult life with some savings to support their ambitions.

 

SCHOOL BANKS ON HOLD

Unfortunately, the restrictions on volunteers entering schools and handling cash mean that we’re unable to operate any Pennies 2 Pounds School Banks for the foreseeable future.   We’ve asked the schools to publicise alternative ways for families to deposit, withdraw and contact us.  

You can pay into Junior Saver accounts direct from your bank, by standing order or in branch.  Contact our friendly team for bank details.

 

COULD YOU BE A HEY CREDIT UNION DIRECTOR?

We are looking for more directors to join our Board.  It’s a voluntary role that would appeal to anyone who is passionate about co-operative/credit union values, with some time and determination to help us build on our success.  We’re particularly keen to hear from people with skills/experience in technology, human resources and marketing.  You wouldn’t have to live or work near our Hull base, as meetings are now held by video/tele-conference.   Take a look at our director profile here and/or contact me for an informal chat (info@hullandeycu.co.uk) – you could make all the difference!

 

OUR AGM WILL BE DIFFERENT THIS YEAR

We’ll be holding our Members’ AGM 2020 on Tuesday 8^th December at 5.45 pm.  It will be a great opportunity for members to find out how we’ve been doing this year and learn about our exciting plans for the future.  Due to restrictions on face to face meetings this year, this will be our first ever online AGM!  We will be doing our very best to make it as accessible as possible for our members, so please keep the date free and watch out for news – in early November - of how to register. 

 

COUNCIL STAFF SAVE AS THEY EARN

Recently I recorded a podcast for the staff at East Riding of Yorkshire Council telling them of the benefits of joining our Save as You Earn scheme.

Hundreds of staff at our four local authorities already save with us direct from their pay, and this year they’ve increased their savings by 15% on average.  Podcasts are a modern and popular way of conveying information to their staff.  If any other employer would like us to record one, please get in touch.

 

INTERNATIONAL CREDIT UNION DAY

On Thursday 15^th October we’ll be joining with our credit union friends all over the world to celebrate International Credit Union Day.  It’s a day to reflect on the proud history of our Credit Union Movement, promote all that it has achieved, recognise the hard work of credit unionists and celebrate the massive difference it has made to the financial wellbeing of people and families everywhere.    

Keep an eye on our social media pages that day – there’ll be some surprises for our members! 

 

That’s about it, until next time – keep safe and well and don’t forget to Refer a Friend!

HEY CU’s Christmas Blog

The most wonderful time of the year is fast approaching, and with it comes presents, clothes, holidays and shopping lists so long you’ll have to check them more than twice! The festive season is the most expensive time of year for most of us, so we at HEY Credit Union have put together a few handy tips to help cut the cost of Christmas this year.

1.    Stick to the budget!

It may seem obvious, but sticking to a set budget is one of the best ways to make sure you don’t overspend this Christmas. Sit down before you start shopping and draw up a list of everything you can think of – including presents, food & drink, clothing, transport, and so on – and the amount you estimate to spend on each. You can then keep track of how much you’re spending on each item, and tick them off the list once purchased. You’ll also be able to see where most of your budget is being spent, and will find it easier to reduce costs where possible.

2.    Beware of Christmas ‘deals’

Retailers know that almost everybody is in shopping mode the closer it gets to December 25^th. Almost every advert and email you come across is trying to persuade you to part with your cash in exchange for Christmas gifts, with the promise of discounts and exclusive offers. In recent years, Black Friday and Cyber Monday promise slashed prices, and whilst you may be able to pick up the odd bargain – it’s essential to remember that retailers are trying to get you to spend as much as possible. Beware of overspending on items you don’t need, and be especially careful of Black Friday scams.

3.    Try ‘Secret Santa’

Gifting presents doesn’t have to cost a fortune, and the gifts we remember most are the ones that come from the heart. If you usually have a long list of people to buy for in your family or friendship group, why not try a Secret Santa? Each person gets given their own person to buy for – so you can really think about getting the perfect gift, whilst saving a pretty penny! It all adds to the excitement and thoughtfulness of the holidays.

4.    Take advantage of loyalty schemes

If you shop at a supermarket throughout the year, make sure to take advantage of any bonus or loyalty points you’ve accumulated. All of the major chains provide loyalty schemes to keep customers coming back, and Christmas could be a perfect time to cash in on the purchases you’ve made in the past 12 months. 

5.    Proper preparation

Despite it only being just the one day, we all know preparation for Christmas starts well in advance of the 25^thDecember. By making sure you get a head start on the festivities, you can save yourself quite a bit, especially if you’re booking travel over the Christmas period. Trains and flights tend to shoot up in price the nearer to Christmas you go, so try to plan ahead and book as early in advance as possible. 

Whilst planning in advance is a great idea, it’s worth bearing in mind that many retailers drop their prices in the January sales. It could be worth keeping this in mind when shopping, and promising your loved ones their presents after the Christmas rush.

6.     Open one of our Christmas Saver Accounts for 2020!

This year, our members broke records, as they saved a huge £850,000 in this account over the course of 2019! We believe it’s the safest, and biggest, festive savings pot in the whole of the Humber region. By putting away as much or as little as you throughout the year, you can take the financial stress out of Christmas. Get a head start on 2020 and apply for an account today.

As November ends and December begins, here are a few fantastic events to get you in the mood for Christmas 

Hull Christmas Market

With a magical Christmas tree, Kids Zone and festive food and drink stalls, you’ll be hard pressed to find anywhere better to kick off the festive season. It’s also walking distance from our Head Office!

Driffield Christmas Lights

Come see us in Driffield Town Centre on Friday 29^th November for the Christmas Lights Switch On, and say hello to Penny the Pennywise Penguin!

Scunthorpe Food and Gift Fair

For one day only on Saturday 14^th December, Scunthorpe town centre will be transformed into a winter wonderland with gifts, treats and snacks aplenty on offer.

See Santa’s Sleigh in Bridlington

Take the little ones to see Santa’s Sleigh in all its’ glory this December, as he makes his way around the streets of Bridlington from 1^st December.

Wishing everybody a wonderful Christmas and a happy new year, from all of us here at HEY Credit Union.

John

CEO, HEY Credit Union

Johns Blog - October 2019

It’s time to bring you up to date with all that’s been happening at HEY Credit Union during October, so here goes .…

OUR 20^TH ANNIVERSARY EVENT IN HULL

As part of our 20^th anniversary celebrations we revisited our birthplace – Hull Guildhall – for a special Member Recruitment Day on 19 September.

As it was the monthly Council Meeting, we booked the Reception Room and invited our original members as well as Council Members and Officers to a sponsored afternoon tea.  A display of City of Hull Credit Union memorabilia, and a rolling presentation about the impact we’ve made over the past 20 years, created lots of interest.   

We were thrilled that so many members who work at Hull City Council popped in to see us, including several who’ve been with us from the very beginning, and two of the founder directors!  It was obvious that they were still as enthusiastic as ever about the organisation that they helped to found.  Several Councillors also congratulated us on our achievements and more signed up to join.   

If you work at Hull City Council, you can save and borrow with us using our popular payroll deduction scheme. 

NEW BRANCH AT GOOLE OFFICIALLY OPEN

Thursday 17 October was International Credit Union Day, when events take place in over 100 countries to celebrate the work of credit unions.   It was also the day when the Mayor of Goole, Councillor Josie Head, came to officially open our smart new branch in the town, in the presence of HEY Credit Union directors, staff, Local Members’ Group members and guests.  

The Mayor praised our “Team Goole” for providing such a professional service for local residents, especially at a time when the big banks are reducing their local branch networks.  Our new branch – in the splendid Old Station Hotelbuilding – is ideally placed in the town centre to attract more people to join.  

Do pop in and see us if you live or work in the Goole area; from this week we’ll be open four days a week – Mon, Tue, Thu and Fridays from 10 am to 2 pm.

TEN YEARS OF FAIRBANKING

Recently I was honoured to represent HEY Credit Union at the Houses of Parliament to celebrate the 10^th anniversary of The Fairbanking Foundation, a charity dedicated to improving the financial well-being of consumers.

We are proud to be one of 26 credit unions recognised with its highest accolade, the 5 Star Fairbanking Mark, for the way we support our members to afford their lives with responsible Credit Union Loans.

Speakers from the Money and Pension Service, Ipsos Mori and the Association of British Credit Unions paid tribute to the Foundation for highlighting good practice in financial services and we received a cut glass trophy on behalf of the members of HEY Credit Union.  

COULD YOU BE A CU DIRECTOR?

At this time of year, we invite our Members to consider standing for election as one of our 12 Directors.  Being a Credit Union Director is a volunteer role but a very satisfying one, as you are part of a team dedicated to the success of an organisation with fantastic values and ethics.  Because we’re a co-operative, owned by our members, our directors are voted into office by them at the AGM, with four being elected each year.

If this is something that may appeal to you, take a look at our Director role profile here, or pick up the phone to arrange an informal chat with John (CEO) to find out more (01482 778753).   

One of our strengths is that our Credit Union Directors come from all walks of life, you don’t have to be working in the financial services industry to apply, and excellent training and support is provided.   

Nominations for this year’s Board elections close at 6 pm on 25 November. 

CHRISTMAS SAVINGS UNLOCKED!

We are into the busiest season of the Credit Union Year, as members can now withdraw the funds in their Christmas Saver accounts.

This year our amazing members have saved up a record £830,000 while bonuses totaling £3,025, funded by the Stop Loan Sharks Team, have been credited to those eligible.  For many of our members, being able to spread the cost across the year means “Christmas is sorted” and they have peace of mind that their funds are locked away in a completely safe account until the festive season. 

Christmas Savers carry on from one year to the next, so there’s no need to set them up again.  This also means you get a full year to save up.

SUPPORTING OUR FOSTER CARERS

On Friday 1^st November we were proud to support Hull City Council’s event at the KCOM Stadium to celebrate the contribution our City’s amazing Foster Carers make to our community. We ran an information stand, showing how families can benefit by joining the Credit Union and provided some goody bags and prizes for the free raffle.  The Foster Carers do some magnificent work helping to nurture the next generation of citizens and well deserved their “thank you” certificates presented by the Lord Mayor.

More Foster Carers are needed all the time and you can find out more about becoming one by clicking here.

RECOMMEND A FRIEND AND WIN £50

 Our Members are very good at spreading the word and encouraging their friends to join the Credit Union Family, so we thought the opportunity to earn a reward would be welcome.

We are therefore inviting Members to Recommend a Friend to apply for a Credit Union Loan.  We’ll enter both the Member and their Friend in a Prize Draw to each win a £50 Shopping Voucher.  Refer a Friend slips are available here or in branch. 

The draw will be made on 20 December.

With Christmas on the way, it’s an ideal time to encourage a friend, family member or workmate to sign up – so let’s get recruiting!

Members – pop this date in your Diary – your AGM will be held on Tuesday 10thDecember in Hull Guildhall at 5.45 pm.  More on this next time!