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.

JOHN'S BLOG - SEPTEMBER 2019

As summer fades into autumn and Hull Fair Week comes into view, there’s lots going on at HEY Credit Union, so here’s a round-up of our news.…

FRESH NEW LOOK AT HULL CENTRAL

After eight years of pretty intensive daily use, our main city centre branch was looking rather tired and so it was time for a refit.  We’ve made a modest investment in a new welcome desk, consultation pods, new oak flooring and fresh décor.  To complete the new look, we’re planning some historical and modern images of Hull to give a bright and cheerful ambience for members visiting.  

Next time you are in town, do pop in and see us – we hope you’ll like our new look!

GOOLE BRANCH ON THE MOVE

Our popular branch is moving down the street as it marks its 10^thanniversary in the town.

We’re relocating from 22 Pasture Road, our home since September 2009, to Unit 6 at the Old Station Hotel, Pasture Road DN14 6BP by Monday 23 September.

I explained to the Goole Times: “We have been very happy at 22 Pasture Road for the past ten years but now it is time for a change.  Our new branch is just down the road from the existing one, closer to the junction with Boothferry Road, but on the opposite side of the road.  It is very easy to see from the town centre and railway station.”

Jo, our Goole Development Officer, and her colleague Jean, have been busy preparing for the move.  Jo said, “Credit unions are owned by their members and we have a Local Members’ Group in Goole which takes a keen interest in promoting the branch.  One of their big concerns this year has been access for people with disabilities, mums with prams and those with limited mobility.  We’ve listened and I think they will be pleased with the result.  We look forward to welcoming members, old and new, to our new branch when it opens.”

WITHERNSEA EXCITED BY OUR PLANS

I was pleased to be invited to speak to a well-attended public meeting in the Shores recently.  We’re partnered with Withernsea Big Localto tackle financial exclusion by providing access to safe savings, affordable credit and sensible money management through expanding our local branch.  In short, making Withernsea a Credit Union Town.

At Big Local’s annual public meeting, Matt Lloyd (Withernsea Credit Union Champion) and I reported that their social investment is already bearing fruit.   So far, we’ve increased staff and volunteer time, established a fully serviced office, more than doubled opening times, made links with community groups, run stalls at events like the Summer Carnival and Withstock (including a notable appearance by Penny the pennywise penguin), and provided a faster easier experience

for our members.  Wow!  In the first six months, we’ve seen active membership in the town grow by 16%, total savings increase by 11% while the loan book has expanded by a whopping 109%.  We reckon that by taking a CU Loan instead of using a doorstep lender, the people of Withernsea are already saving over £25,000 a year in interest charges.  

We’re planning to work with the High School on financial education, and to also open a Local Members’ Group -a forum for members to meet to enjoy fun quizzes and CU games, hear our news and discuss ideas for promoting the branch.   If you live in Withernsea and would like to join, contact Matt (mlloyd@hullandeycu.co.uk).

DRIFFIELD VOLUNTEERS RETIRE

Last Wednesday I attended a pleasant event in Driffield to mark the retirement of three of our longest serving volunteers – Ross Weekes, Liz Weekes and Anne Anderson.  The “intrepid trio” were founder members of Driffield Branch back in 2005 and have done much to support its development, including the highly successful school banks, ever since.   With over 1,000 members and juniors now in Driffield, as the Branch Leader Debbie said, “they have left a strong legacy.” 

OUR CHARITY OF THE YEAR UPDATE

A big thank you to everyone who sponsored Kathryn, Steve and me to do the 20K Hornsea Mere Circular walkback in July. Tying this into our 20^thAnniversary, we decided to walk one kilometre for each year of the Credit Union’s life.  Hence, it was an unusual and slightly dizzy experience covering the course twice (a bit like the Grand National?) but we got there, and with your help, raised a tidy £375 for HEY Credit Union’s Charity of the Year – Yorkshire Air Ambulance.

NORTHERN LINCOLNSHIRE PROGRESS

We’ve had a busy summer at Scunthorpe branch too.  We’re working with social landlords Ongo Homes, to promote our services to their tenants and their staff family. Tracey ran an information stall at the Ongo Carnival in August, and then we met with Ongo staff at their new town centre HQ on 9^thSeptember to tell them about the well-being benefits of simple saving and affordable credit with HEYCU direct from your pay.

Meanwhile, over at Winterton Patrick has been working hard to establish “Credit Union Wednesday” as part of the local scene. That’s the day when he provides one-to-one sessions at either the Hub or the Cornerstone Café, a contact point in the Co-op store, and a school bank at the Infants & Juniors School.  Thanks to our pro-active partnership with Winterton 2022 Big Local, we’ve enjoyed lots of success, with around 32 school savers, more adults joining and an increasing local loan book.

MPS VISIT CENTRAL OFFICE

You may be forgiven for thinking the life of an MP is endless Brexit these days.  Our Hull MPs Diana Johnson and Karl Turner disproved that when they paid us a fact finding visit in August, as part of our 20^thAnniversary celebrations.  After meeting staff and directors for an office tour, we gave a “potted history” and set out our ideal “shopping list” for a future Government.  It included a desire for legal changes to permit credit unions to offer a wider product range (such as credit cards and motor finance), to help more people to benefit from our member-driven not-for-profit services.  We’d also like it to be made mandatory for employers to offer credit union payroll deduction to their staff as a proven financial wellbeing benefit.  

Our MPs showed genuine interest and I am sure it greatly helps them to know about the work of credit unions when consumer finance topics are aired in the House of Commons.  We might even get a mention perhaps in a future parliamentary debate!

CHRISTMAS IS COMING!

We hardly dare mention it but it happens every year! If you need some extra support to cope with festive season financial stress, turn to us.  A Credit Union Christmas Loanspreading the cost over a year is far cheaper than other small loan options including doorstep credit:

Lender	Loan £ over 52 weeks	Repayments per week £	Interest %APR	Total to repay £
Morses Club*	£400	£14.00	272.2%	£728.00
Provident*	£400	£14.40	299.3%	£748.80
Credit Union*	£400	£9.20	42.6%	£477.54

*information taken from websites, correct as at 15.8.19

Remember, you can save with us as you repay, helping you to build up a handy sum for the future.   Our Child Benefit Loan & Savings Plan option offers an ideal way for families to stretch their money further and was mentioned on BBC Radio 4’s MoneyBox programme recently.

Contact us in branch, at www.hullandeycu.co.ukor 01482 778753 to find out more.

The first week of March!

NLCU merger

We are thrilled to learn that the members of North Lincolnshire Credit Union (NLCU) have held two special general meetings and voted to merge their credit union with ours!    We are looking forward to working with their staff and volunteers to build on their good work and help to bring affordable not-for-profit credit union services to many more people across Northern Lincolnshire.  

Running a small credit union isn't easy these days and the NLCU members deserve congratulations for all they have achieved over the years, and for having the foresight to recognise that a merger from strength with a reputable larger credit union offers the best way to achieve long term success for their members and ours.

We've set up a web page to keep NLCU members and the people of Northern Lincolnshire informed about our "merger story" as it unfolds.   Once the regulators have registered the transfer we'll be able to set a date for introducing the HEYCU range of services to the wider region. But rest assured the branch in Scunthorpe High Street will continue to offer a friendly welcome and caring service to all who call in to do business there.  It will trade as Northern Lincolnshire Credit Union (part of Hull & East Yorkshire Credit Union Limited). 

So, if you happen to be a member of NLCU, welcome to the family!

Pennies 2 Pounds progress

Our school banks team - Rita, Jo, Julie, Carmel and Beth - have been exceptionally busy recently, finding new places to open our very popular Pennies2Pounds school banks.   During February new school banks were launched at Hutton Cranswick (Driffield) Primary School and St Nicholas (Beverley) Primary School.   We also opened a community contact point at The Moorlands Centre, Old Goole which operates every Wednesday morning.  On 5 March we opened at the Sure Start Children's Centre in Cottingham (every Thursday).   Then, next week, we are starting up at Roos Primary School in Holderness!    

Day one at the new school banks has generally been very hectic, with lots of eager children and their parents too pressing forward with their joining forms to claim their free money box, saver card and sticker!    It's a great time for the adults in the family to start saving up for Christmas - as until the end of March we are matching the first deposit (up to £10). 

Lots of other places are now asking if they can have a school bank, but we will have to prove the success of these first and not try to do too much all at once.  Who knows, one day we may achieve our aim of introducing all families in our area to good money management through an early engagement with a school bank.

Happy Birthday!

Just a quick note to say Happy 10th Birthday to The Shores Centre at Withernsea!  The Shores is home to our Withernsea branch which opens every Wednesday morning, and it always seems to be teeming with activity whenever you enter. It's one of those places that would really be missed if it wasn't there.  The Diner's pretty good for food and drink too!   We salute your success over the past decade, Jayne and team, and here's to the next ten years!

While were on the subject of anniversaries, congratulations to our Wetwang branch, which has just had its first birthday.   Over the past year Pat and her volunteers have done wonders getting the local community saving.  Well done!  Tuesday mornings in the Community Hall is the time and place to be to join up.

Hull BID Awards

As a business with a big presence in Hull City Centre (Brook Street to be precise), we are part of Hull Business Improvement District (Hull BID for short).   They are holding their second round of Business Awards very soon, with eight different categories, including such things as Outstanding Employee or Team Award; Service with a Smile Award.

Members of the public can nominate businesses in the city centre for an award.  It's really easy to do, by visiting www.hulldailymail.co.uk/bidawards for a nomination form.  Our member feedback slips suggest that many members are delighted with the service they get from our staff team when they visit Brook Street.   Perhaps someone might consider us worthy of a nomination?  Now, that would be nice . . .

Fairtrade Fortnight

We've been celebrating Fairtrade Fortnight 2015 by raising awareness of the great work of the Fairtrade Foundation, who promote fairly traded foods, clothing and crafts to help ensure a better life for producers and farmers in less developed countries of the world.   The Fairtrade premium - an extra sum that farmers and workers receive - is invested in community projects like ambulances, local schools, clean water supply and business improvements.

When you buy Fairtrade products you are helping to transform people's lives through fair prices, better wages and the Fairtrade premium.  As a credit union we support Fairtrade because fairness is what we are all about - the fairer alternative is our strapline.  It's the right thing to do.   At our AGM our Fairtrade products stall always proves popular, which shows that what our members believe too. 

Our Dream Loan makes dreams come true!

Anyone need a loan for a special holiday or a wedding?   Now is the time to apply.   Have a look at our Dream Loan - it's like a bank loan but at a lower interest rate.