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!

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 - July 2019

JOHN’S BLOG – JULY 2019

Our first 20 years

Your credit union celebrated its 20^th anniversary last month, and we were delighted to welcome the Deputy Lord Mayor of Kingston upon Hull, Councillor Lynn Petrini and her consort, Mr Graham Petrini, to our Hull Central branch on Brook Street. Our guests took the time to speak with staff, directors and members about what the credit union means to them. As we were founded with the support of Hull City Council, it was fantastic for us to have the City’s Deputy Lord Mayor visit us to commemorate our anniversary, and we really appreciated her coming along. We made sure she got the first slice of cake as a thank you!

We were founded on the 10^th June, 1999, and we’ve come a very long way since. Here are some key facts to show just how far:

·      We now have over 13,600 adult members, plus 1,400 junior savers across the Humber region and beyond;

·      Our members hold savings in excess of £10 million, and loan balances over £5 million;

·      Since our foundation, we’ve granted 55,500 loans to our members, to the value of £38 million;

·      Without us, many small borrowers would have resorted to high-interest credit, doorstep lenders or loan sharks. We estimate we have saved them over £18 million in interest!

·      Since 1999, we’ve shared out £1 million in surpluses to our members as dividends. That’s money earned that has gone right back to our members and supported our community, showing the power of co-operation! 

On a personal note, and as a founder member myself, I’d like to thank everyone who has devoted their time and effort over the years to making this credit union what it is. Together, we can be proud that we’ve had a genuinely positive effect on the financial wellbeing and independence of our members – long may it continue!

BBC Radio 4 Money Box

On Saturday 6^th July, a member of HEY Credit Union was interviewed on BBC Radio 4’s weekly finance show, Money Box, hosted by Paul Lewis. Ashleigh explained how she had benefited by taking out a Child Benefit Loan & Savings Plan with us.  She was very complimentary about how it’s enabled her to borrow for life’s unexpected expenses at a fair rate, while also gradually building up a savings cushion too.

Our Child Benefit loans are really popular with our members, as they allow you to apply for up to £500, at a fixed interest rate of 3% per month on a reducing balance.  It’s a great way to smooth out the lumpy costs of things like Christmas and back to school.  If you’re in receipt of Child Benefit payments and would like to know more, you can do here.

Also on the programme was ABCUL’s Head of Policy & Communications, Matt Bland, who said of credit unions, “We’re innovating to provide a facility that works with the finances of households up and down the country”.  It’s this approach – working with our members to provide services that they need – that provides our inspiration and has done so for 20 years. Well said indeed!

Yellow Yorkshire day

We recently announced our new charity partner for this year, Yorkshire Air Ambulance. They provide a vital service across our region by saving lives. Many people in our part of the world have come into contact with YAA at some point, and so we’re delighted to be able to help raise funds for such an admirable cause. That’s why last Friday, 5^th July, we turned our offices yellow in support of Yellow Yorkshire Day, holding raffles and fundraising competitions too.  Later this month Goole branch is devoting its annual Cupcake Day to the cause (19^th) and your CEO and staff colleagues are doing a 20km sponsored walk (29^th). Thanks everyone for your support!

Credit Union event in Parliament

As co-operatives, credit unions know the potential and benefits of working together for a shared goal. That’s why we were delighted to attend the All Party Parliamentary Group on Credit Unions at Westminster, together with credit union colleagues from across the country and representatives from the government and Lloyds Banking Group. Lloyds have long been a supporter of credit unions, with more than £5 million already donated to credit union growth and sustainability since 2014. Our President, Andy Stankard and I met with local MPs Diana Johnson (pictured) and Graham Stuart at the event and left with many exciting ideas to ponder over to help HEY Credit Union to remain successful for another 20 years.

Competition Time!

What’s a birthday without a celebration? To commemorate our 20^th birthday this year, we’ll be running some competitions and events for our members to take part in and share in the celebration. Be sure to follow us on our social media channels for more details, including some great prizes up for grabs!

Thanks again for your continued support,

John

CEO, HEY Credit Union