John’s Blog – June & July

The month of June has perhaps been one of the busiest in our Credit Union’s history, so there’s lots to tell you about…

Now we are 18!

Your Credit Union was registered with the then Registrar of Friendly Societies on 10^th June 1999, so this month we attained our 18^th anniversary.  This significant milestone was marked by the cutting of a special birthday cake at our Central Office in Hull by our President, Alan Hignett and our guest from the Pen Fed Credit Union, Georgia, USA, Sherry Saxon.
 

HEYCU began life as the credit union for Hull City Council staff and their families and our first office was a back room down a corridor in the city’s magnificent Guildhall.  We were only open on Wednesday lunch times at first and run entirely by volunteers.  Despite this, with the enthusiastic support of the Council workforce, we grew rapidly, beating our three year plan targets in the first year! 

 

The first ever loans we granted were to help members to buy shares in the city’s own telecommunications business, KCom, which had just floated on the stock market!   Now, we make loans for less unusual purposes, such as holidays, Christmas, home improvements, cars and family celebrations, and more besides.

It’s remarkable to think that we have since expanded to become one of Britain’s top 15 credit unions, with over 40 payroll partners (including the DWP, one of the largest government departments) as well as serving over 10,000 members who live and work in the Humber Region. 

As someone who was there at the start, seeing our CU “come of age” is a great personal thrill.  I’d like to pay tribute to all who have shared the journey, including Eddie (our Finance Manager) and John Bailey (Director) whose involvement, like mine, has spanned the whole 18 year period.

If you want to learn more about our fascinating history, there’s a timeline on our website. 

Our new website

Have you seen our new website?  Early in June, with the help of Cornerstone Mutual Services, we switched over to our fresh look site. Our loan and savings products are displayed much more clearly and the improved loan calculator (with an easy to use slider bar) is proving a big hit with members eager to work out the repayments on a CU Loan.

It’s so easy to navigate – on your smartphone, tablet, laptop or desk computer – whether you are looking to join online, download forms or documents, or access one of our partner sites such as Co-op Energy or the Co-op Electrical Store. 

Why not take a browse today, and then give us some feedback?   We are always keen to hear what our members think.

Fairbanking Mark awarded

I am thrilled to announce that we’ve been awarded a 5-star Fairbanking Mark for our Credit Union Loan products.

The prestigious mark, awarded by the Fairbanking Foundation, recognises that our CU Loan has the required features to make a positive impact on consumers’ financial well-being.  If you have had a CU Loan, you’ll be familiar with these admired features, which include:

·         providing loan applicants with a budget planner to help them work our whether they can afford to repay a loan;

·         allowing borrowers to settle early without a fee or penalty charge; and

·         encouraging our members to save alongside their loan repayments, which supports a savings habit, and gives an incentive to continue savings when the loan is completed.

Very few banking organisations have achieved a Fairbanking Mark so far, and even fewer one with 5-stars.  Before a mark is awarded, the bank or credit union undergoes a rigorous independent survey when members or customers are asked for their views on the product and their experience of using it.   We’d like to thank all our members who took part in the survey and helped us to gain our award.

Antony Elliott, the CEO of the Fairbanking Foundation said “We’ve now worked with eleven credit unions to enable their personal loans to be granted the Fairbanking Mark.  The evidence shows that credit unions are playing an increasingly important role in people’s financial lives in the UK.”

  

Visit by Georgia League of Credit Unions

The UK credit union movement and the Credit Union League of Georgia, USA have formed a partnership to work together for mutual benefit over a ten year period.  Credit unions are huge in the USA and have been around for much longer than in the UK, so we have much to learn from their experiences.

So, it was truly a pleasure to welcome Mrs Sherry Saxon, the Regional Director of PenFed Credit Union in Augusta, and her husband Sidney, to Hull & East Yorkshire Credit Union from 12 to 16 June.  Sherry worked with me, and our directors, to look at how we can further develop our loans business, and revamp our head office to provide an even better experience for our members. She attended a Board meeting, to explain how her credit union had grown from a micro-business to the multi-million dollar organisation that it is today, and how we might follow in their path, while staying true to our co-operative not-for-profit ethos. And she visited all our branches and met the directors and staff socially, which was a most enjoyable experience. 

During their time in Hull, Sherry and Sidney visited Hull’s Guildhall and were treated to afternoon tea with the Lord Mayor and Lady Mayoress.  They were so impressed with this wonderful historic building.  We should also like to thank the Leader of the Council, Steven Brady, for spending time with them to talk about Hull’s development strategy.  It was a memorable visit and we hope to see them again at some point.

Howden contact point opens

Wednesday 21^st June was a special day for us as we opened a new Credit Union contact point to serve the town of Howden.  Thanks to the kind support of the Co-operative Group, we will have a table inside the large Co-op supermarket in Charles Briggs Avenue every Wednesday from 12 noon to 2 pm.

At the contact point residents can join our credit union, pay in savings deposits, apply for loans and ask about our services.  Howden is one of the rural communities that has sadly lost its main bank, so we are pleased to offer an alternative savings and loans facility without residents needing to travel to Goole.

Our opening day was also special because we introduced Penny Penguin, our new penny-wise mascot.  Penny was very popular with the youngsters as she toured the town, handing out balloons and posing for “selfies”. 

While Penny was busy at the Co-op I popped our leaflets through doors to announce our arrival in town, and enjoyed meeting the people of this lovely historic town.

CU staff take part in Hull 10k

Congratulations to my staff colleagues, Sandra, Sarah (and her husband Paul), Matthew, Steve and Kathryn on completing the Hull 10k Run recently.  Proudly displaying the HEYCU logo on their running tops, they did amazingly well especially on the hottest day of the year!

New Lottery sponsors

We are delighted to welcome the Hull Branch of UNISON, the public service union, as our main Members’ Lottery sponsors.  UNISON have provided funding for three extra lottery prizes each month, so we hope even more members will sign up for lottery tickets (£1 each, deducted monthly from your CU Savings).  There’s at least £550 in prizes to be won each month, plus a bumper triple draw at Christmas, so don’t miss out – apply today! 

Hull’s wonderful news

Our home city has been gaining lots of deserved applause for embracing its City of Culture status so well.   So it was wonderful to learn that £27.5 million funding – including a £15 million National Heritage Lottery grant – had been secured for a major tourism investment in Yorkshire’s Maritime City.

The seven-year project will see the Arctic Corsair – Hull’s last remaining trawler – move to a new berth in a dry dock on the River Hull, alongside a visitor centre; a facelift for the Maritime Museum in Queen Victoria Square, including public access to a rooftop dome; a new home for some of the city’s historic maritime treasures opposite; and a refit for the Spurn Lightship.

It’s great news that 74 jobs, 10 apprenticeships and hundreds of volunteer roles will be created, with the 300,000 extra visitors to the city in the first year boosting the city’s economy by over £1.4 million. 

Well done to all who helped to make this happen – it’s fantastic that the City Plan ambition of creating a world-class destination on our doorstep is being realised.

Summer Events in our Region

Well, it’s summer at last, so let’s take a trip around our Credit Union region and find some ideas for outdoor events that you might like to attend:

Sat 1st - Sun 2nd July	Winterton Agricultural Show
Sun 2nd  July	Howden Show
Tue 11th July 2 - 3.30pm	Oldfleet Primary School, Greatfield Celebration
Thu 13th July 2 - 3.30pm	Stockwell Primary School, Greatfield Celebration
Sat 15th July – 11 am - 3pm	Greatfield 60 Street Party: Meet at St Hilda's at 11am for the parade to St Stephen’s where the 'street party' will be held.
Sat 15th – Sun 16th July	Open Gardens at Winterton
Wed 19th July	Driffield Show
Sat 22nd July 1 – 4 pm	Viking Barton Family Fun Day
Sat 22nd – Sun 23rd July	Withernsea Carnival, Steam Rally and Parade
Tue 1st August	Yorkshire Day at Sewerby Park, Bridlington – a celebration of all things Yorkshire
Wed 2nd August 11 am to 3.30 pm	Ongo Carnival Scunthorpe
Fri 18th to Sun 20th August	Old Goole Gala

Summer Loans

Would some extra funds come in handy for holiday spending money, holiday clothes or equipment?   Don’t forget we have five-star CU Loans available at competitive rates to suit all pockets.  Check out our website today!

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.

JOHN’S BLOG – JANUARY 2017

OUR SPECIAL NEW YEAR

It seems ages ago that we were welcoming in the New Year and, here in the City of Kingston upon Hull, enjoying the launch of our time as UK City of Culture.  And what a spectacular start it was!  The fireworks on the opening night were well worth seeing, despite it being one of the coldest nights of the winter, but then the Made in Hull experience that followed was simply stunning.  Seeing the past 80 years of Hull’s history so cleverly projected on to the walls of some of our most iconic buildings in glorious technicolour was amazing, and huge crowds revelled in the experience all week long.   If this is just the start, what follows on as the year unfolds will be well worth waiting for!

Meanwhile back at the Credit Union, we’ve had a busy opening month as well…

ST STEPHEN’S COMMUNITY ROADSHOW

Our video debut at the roadshow in St Stephen’s Shopping Centre proved very popular and during the week-long event we enlightened a lot more people as to what credit unions are all about.  Staff colleagues joined the professional marketeers to meet shoppers, hand out leaflets and invite them to join in our Quiz.   Here are the answers in case you were wondering:

·         Your Credit Union is owned by – its Members

·         A credit union can charge whatever it likes if you borrow money from it – False

·         Borrowing from a credit union is cheaper than borrowing from a doorstep lender – True

·         Savings are better protected in a big bank than in a credit union – False

We are still checking the replies but will announce the winner of the £50 shopping voucher very soon!

SOCIAL MEDIA WORKSHOP

We’d like to thank Phil Frampton of the Barclays Credit Union Development Project for putting on a very interesting social media workshop for us.  We were delighted that colleagues from two other credit unions – Voyager Alliance and Commsave – could join us for the event.

LARGER CREDIT UNIONS EVENT

Alan (our President) and I attended a very worthwhile ABCUL Larger Credit Unions event in Manchester.   The agenda was packed with useful topics and opportunities to share news and information and compare performance.  I was interested in some recent research that showed that one of the features of credit unions that members value most is the ability to save while you borrow.  It is so ingrained in the way we’ve always worked that we have perhaps forgotten what a powerful benefit it is.

SHOP THE SHARK EVENTS

Our campaign to urge people to “Say No to Loan Sharks” got off to a great start when Sid the (reformed) Shark visited Boothferry Primary School in Goole to meet pupils and involve them in some healthy money talk.  The Headteacher did a brilliant job setting the scene and encouraging them to join our Pennies 2 Pounds School Bank.   A week later Sid visited Greatfield Estate in Hull and the look of surprise as he wandered into the local shops to meet staff and customers was a sight to behold!   Sid’s message was of course to warn people about getting into the clutches of illegal money lenders, who do so much harm to families and communities up and down the land.

If anyone knows of loan sharks operating they should contact the Illegal Money Lending Team on 0300 555 2222 or email reportaloanshark@stoploansharks.gov.uk or text loan shark + message to 60003.  All messages are treated in complete confidence and you could be doing your community the biggest favour ever.

Remember, anyone who opens a Credit Union savings account in Goole or Greatfield between now and 1^st March and saves at least twice during February, will qualify for a £25 savings bonus!  Pop down to see us to claim your voucher.

DWP MEMBER RECRUITMENT IN GLASGOW

Last week I was in Glasgow with our portable Credit Union recruitment stand meeting staff at the major DWP offices at Northgate.   DWP staff there can join HEYCU and save with us by payroll deduction.  I should like to thank credit union volunteer Angela for her brilliant help and company on the day.  We had some good conversations with the DWP colleagues and I was interested to learn that there are around 34 credit unions in Glasgow and they have the highest penetration of membership of anywhere in the UK.  Quite by chance, it happened to be Robbie Burns Day and to join in the celebrations I tucked into a lunch of haggis, tatties and neeps in the staff canteen!   I am sure we will be back north of the border before too long.

WINTERTON NEWS

The Pennies 2 Pounds School Banks at the Winterton schools continue to make good progress and during the three months to 30 January 2017 over £530 was saved into the accounts by pupils and their families. Well done to all our savers!

Andrew from our Scunthorpe branch was invited to make a presentation to the children of Winterton Junior School during their assembly and this was well received.  The Headteacher then announced to the children that the school will deposit £1 into every new account opened by a pupil this school year.  Chole Fowler will be running the Winterton Junior School Bank on Thursdays 9 Feb, 9 Mar, 6 Apr, 4 May, 8 and 22 Jun, 13 and 20 July.  Donna Goodhand will be running the Winterton Infants School Bank weekly on a Friday.

We are also planning to open a regular contact point inside Winterton’s Co-op.  Watch out for more news!

DRIFFIELD SCHOOLS CO-ORDINATOR

We are very sad to be losing the services of our wonderful Schools Co-ordinator in the Driffield area, Rita Walker.  Rita and Nigel are leaving the area to go and live in the North-East to be closer to their family but they have been sterling volunteers over the years and we shall miss them.  Rita has been the mainstay of our Pennies 2 Pounds Club, organising and supporting the volunteer teams and putting on special assemblies in numerous schools ranging from the Driffield area up to Bridlington and deep into Holderness.   Everyone at HEYCU would like to say “thank you Rita for a job well done” and our very best wishes for the future.

PAYING OVER THE ODDS FOR CREDIT?   WHY NOT SWAP AND DROP?

At this time of year we know many people are feeling money-challenged and some may be saddled with big credit card bills that were run up during the festive spending season. As a result they may be paying out more in monthly repayments than necessary.  That’s where we may be able to help.  Take a look at the Swap & Drop page on our website and see if we could save you some money by switching to a Credit Union Loan with lower interest and lower repayments.