Media Information

If editors and journalists would like more information about our credit union and its activities please contact us at info@hullandeycu.co.uk or call 01482 778 753.

Here is a selection of news releases that we have issued.

 

2019

HEY Credit Union enjoys impressive Anniversary year (Dec 2019)

HEY CREDIT UNION ENJOYS IMPRESSIVE ANNIVERSARY YEAR

 

HEY Credit Union, serving over 15,000 members and junior savers across the Humber Region and beyond, has recorded another year of positive development.

 

Announcing HEYCU’s annual results, in readiness for the AGM on Tuesday 10th December, Chief Executive John Smith said, while the uncertain economic climate had made it quite a challenging year in some ways, the Board was pleased to report that membership, loans and savings had continued to grow impressively.   Total loans were 14% higher than a year ago while income generated was up by 27%, leading to a higher surplus and an increase in Capital Reserves, in line with the regulatory target.

 

During the year further investment was made in new technology and a branch improvement plan, to improve the member experience.   A new Mobile App, enabling members to view their accounts in real time 24/7, transfer funds and submit enquiries direct from phones or tablets, immediately proved popular and over 2,000 members have already registered to use it.  Loans and savings withdrawals are all now issued by Faster Payments, enabling members to have funds into bank the same or next day.

 

After 8 years’ intensive use, the banking hall at Hull Central branch was refurbished, with a new welcome desk, consultation pods, laminate floor and Wi-fi access.   To address the concerns of the Local Members’ Group about difficult access, Goole branch was relocated to smart new premises across the road, with better facilities.   A social investment by Withernsea Big Local Partnership enabled HEYCU to expand its branch in this seaside town, with a Development Worker to engage with the community and better address the needs of residents for safe savings and affordable credit.

 

With the credit union’s reach now extending far beyond the traditional county boundaries of Hull and East Yorkshire, after consulting members, it was decided to introduce a new trading name – HEY Credit Union – which allows marketing and communications to be simplified while respecting its proud heritage.

 

2019 was HEYCU’s 20th Anniversary year, which was marked with a Lord Mayoral visit to Central Office, a big member recruitment day at its original birthplace – Hull’s prestigious Guildhall – and various competitions and offers.  A presentation was created to demonstrate the impact made by HEYCU over the years which showed that it had granted 55,500 loans to a value of £38 million, saving the people of the Humber Region at least £18 million in interest charges.  It has also created 22 jobs for local people, provided life skills and community involvement for over 100 volunteers and shared out over £1 million to members as dividends.

 

John Smith said, “As one of the founders of our Credit Union 20 years ago, I have been thrilled to witness its progress and see what a difference it has made to the lives of so many people.  Unlike the big banks which have withdrawn from many of our towns, we are determined to keep our friendly local presence and we know from feedback that this is really appreciated by our members.”

 

HEYCU’s newsletter with annual review can be viewed at https://www.hullandeycu.co.uk/login/uploads/annual-newsletter-2019.pdf

HEY Credit Union defies bank closure trend in 20th Anniversary year (Nov 2019)

HEY CREDIT UNION DEFIES BANK CLOSURE TREND IN 20th ANNIVERSARY YEAR

 

As more banks announce branch closures, a not-for-profit alternative serving the Humber Region has recorded a bumper anniversary year.   HEY Credit Union, which now serves 15,000 members and junior savers, has invested in its local branch network with a relocation, a refit and extended opening hours.

 

Members with a £1 share in the financial co-operative have been invited to an AGM in Hull Guildhall on Tuesday 10th December at 5.45 pm to hear how it is doing, help to elect the directors and vote on dividends.

 

2019 was HEY Credit Union’s 20th Anniversary year and Chief Executive John Smith said, “As one of the founders of our Credit Union 20 years ago, I have been thrilled to witness its progress and see what a difference it has made to the lives of so many people.  Unlike the big banks which have withdrawn from many of our towns, we are determined to keep our friendly local presence and we know from feedback that this is really appreciated by our members.”

 

During the year, further investment was made in new technology and a branch improvement plan, to improve the experience for the Credit Union’s members.  The banking hall at the main branch in Brook Street Hull was refurbished, with a new welcome desk, consultation pods, laminate floor and cheerful new decor.  

 

Goole branch was relocated to smart new town centre premises, with better access for people with disabilities, resulting in a big increase in business.  At Withernsea, a social investment by Withernsea Big Local Partnership enabled HEYCU to expand its branch opening times and employ a Credit Union Champion to engage with the community and help more residents to access safe savings and affordable credit.

 

A new Credit Union Mobile App, enabling members to view their accounts 24/7, transfer funds and submit enquiries direct from phones or tablets, immediately proved popular and over 2,000 members have already registered to use it.  Savings withdrawals are now paid to members’ bank accounts the same or next day.

 

The 20th Anniversary year saw membership, savings and loans reach record levels, with HEYCU now among the UK’s leading credit unions, and one of only a small number of financial providers with a 5-star Fairbanking Mark.   It’s an impressive growth story from a locally-based organisation founded by a group of volunteers in Hull back in 1999.

ENDS

  

Notes to Editors

HEYCU’s Annual General Meeting

Information about HEYCU's Annual General Meeting may be found on the website at

https://www.hullandeycu.co.uk/news-events/annual-general-meeting-2019/

 

 

HEYCU

HEYCU was established in 1999 and operates from its Brook Street, Hull headquarters and eight branches in East Yorkshire and Northern Lincolnshire.  There are 22 staff and over 80 volunteers.  It serves 14,000 Adult members and 1,500 Junior Savers with a combined total of £10.5 million in savings.

HEYCU is a well-governed co-operative business, offering very user-friendly services, and has helped many people to save for the first time and access affordable credit, saving the community over £18 million in interest charges since its formation in 1999.  Its website at www.hullandeycu.co.uk has full details.

HEYCU is regulated by the Financial Conduct Authority and Prudential Regulation Authority and members’ deposits are covered by the Financial Services Compensation Scheme. Thus, the first £85,000 of members’ savings is 100% guaranteed.

HEYCU has a five-star Fairbanking Mark for responsible lending.

For information on Credit Unions in Britain and the rest of the world see www.abcul.org

 

For more information, please contact:

John Smith, Chief Executive, HEYCU, Tel 07896 267517 or jsmith@hullandeycu.co.uk

Goole Credit Union Branch on the move (Sept 2019)

GOOLE CREDIT UNION BRANCH ON THE MOVE

 

Goole’s popular branch of Hull & East Yorkshire Credit Union is moving down the street to new premises this week as it marks its 10th anniversary in the town.

 

The Credit Union is relocating from 22 Pasture Road, its home since September 2009, to Unit 6 at the Old Station Hotel, Pasture Road DN14 6BP and plans to be up and running at its new location by Monday 23 September.

 

The not-for-profit organisation provides the people of Goole and the surrounding area with safe and convenient savings accounts, affordable credit and other services related to managing their money.

 

John Smith, HEY Credit Union’s Chief Executive said:  “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 Evans, the Credit Union’s Goole Development Officer, and her colleague Jean Taylor, 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 later this week.”

 

HEY Credit Union’s Goole branch opens every Monday, Tuesday and Friday from 10 am to 2 pm.   Members can also phone 01482 778753 or visit www.hullandeycu.co.uk to find out more about its services.

ENDS

HEY Credit Union 20th Anniversary (Jun 2019)

HEY CREDIT UNION 20th ANNIVERSARY – 10 JUNE 2019

On 10 June 1999, a group of work colleagues at Hull City Council founded an organisation destined to make a big difference to the whole community. Twenty years on, that organisation - now known as HEY Credit Union - is one of the UK’s leading examples of its kind.  

Its founders’ aims were simple:  To set up a financial co-operative – owned and run by its members – to enable anyone choosing to join to save up safely, borrow affordably and responsibly, and access a range of services that would help them to achieve financial wellbeing.

Credit unions exist in over 100 countries of the world. Some are now huge enterprises, serving many thousands of members with every possible financial product including mortgages, credit cards, car loans and business finance.   But all began in a small way, from local roots, and have stayed true to their core values of member democracy, fairness and service rather than profit.

Those of us who founded HEY Credit Union are astounded by its success.   We never imagined that, in 20 years, it would have 15,000 members and junior savers and be looking after funds in excess of £12 million.  Or that, from its Brook Street headquarters in Hull city centre, it would be running branches in Bridlington, Goole, Scunthorpe, Driffield, Withernsea and numerous other volunteer run service points.

We have issued 55,000 loans to a value of £40 million.  Two-thirds of loans were for amounts below £2,000, a field once dominated by doorstep lenders with eye-watering rates. We estimate that our existence has saved the people of the Humber Region at least £18 million in interest charges.

Many members tell us that we have helped them to accumulate savings for the first time ever, by making it easy to do so, partnering with over 20 employers to provide “save as you earn” deductions, and bringing back school banks to help young families to catch the habit early.

Returning dividends of £1 million to our members as their reward for loyalty, creating for local people 22 jobs and 100 volunteering opportunities (all our directors are volunteers!) and achieving a 5-star Fairbanking Mark are other beneficial impacts our credit union has made. 

I’d like to pay tribute to all the people whose dedication has helped to grow HEY Credit Union, brick by brick, into the organisation it has become and trust this commitment continues long into the future.

Withernsea Credit Union Seeking Volunteers (May 2019)

WITHERNSEA CREDIT UNION SEEKING VOLUNTEERS

 

Withernsea branch of Hull & East Yorkshire Credit Union (HEYCU) is looking for more volunteers to help roll out its Credit Union Town project. 

 

The branch, based in The Shores Centre, provides affordable and responsible ways for people to make the most of their money on a not-for-profit basis.   Local residents can become Credit Union Members, open savings accounts and apply for low-cost credit, helping them to build up financial resilience and avoid the problems of high cost credit providers such as doorstep lenders, payday lenders and weekly payment stores.

 

Earlier this year HEYCU was given a social investment by Withernsea Big Local to expand its seaside branch and serve more people in the town.   Local resident Matthew Lloyd was appointed as Credit Union Champion and a big expansion project is now under way, with longer opening hours, more partnership activities with the community and hopefully a school bank being planned.

 

Matthew is keen to hear from anyone who would like to volunteer to help with the project.  He said: “Credit unions in communities like Withernsea rely on volunteers to help them deliver caring services to their members in ways that big banks wouldn’t find economic.  

We realise that people are very busy but if someone could help us for event a couple of hours a week it would make a big difference. 

 

“Volunteering is a great way to meet people, learn some fresh skills and help your community.  There may well be people with past experience in banking who would like to be involved in our credit union, where the focus is very much on our members and supporting their financial wellbeing.  But if not, we provide excellent training and support for those wanting to try something new.”

 

HEYCU is working in partnership with Withernsea Big Local to make Withernsea a Credit Union Town – one that says no to high cost credit but yes to affordable, responsible saving and borrowing.  Residents in HU19 will get a £25 cash bonus if they join the Credit Union this year to save up safely for Christmas, thanks to HEYCU’s partnership with the Stop Loan Sharks Team.

 

John Smith, HEYCU’s Chief Executive, said:  “With the reduction in high street banking in rural areas, people are turning more and more to credit unions to provide a fair, friendly and ethical financial alternativeWe are very excited about expanding in Withernsea and welcoming some more volunteers to our friendly team.”

 

To find out more about volunteering with the Credit Union, pop into the Shores Centre in Seaside Road for a chat with Matthew, or call 01964 615190 or email mlloyd@hullandeycu.co.uk.  

 

HEYCU’s website has more details here:   https://www.hullandeycu.co.uk/work-with-us

Withernsea set for Credit Union expansion (Jan 2019)

WITHERNSEA SET FOR CREDIT UNION EXPANSION

Hull and East Yorkshire Credit Union (HEYCU), the region’s largest not-for-profit financial services provider, is looking to recruit a person to help it to expand in the Withernsea area.

Thanks to a new partnership with Withernsea Big Local, HEYCU is launching a three-year plan to support the people of Withernsea to improve their financial well-being. John Smith, HEYCU’s Chief Executive, explained: “We are now advertising for a Development Officer to work with our staff and volunteer team to bring it to life. For the right person it will be a great opportunity to do something worthwhile and make a real difference for the people of Withernsea. We can’t wait to get started on this exciting project and hope that the job will catch the attention of someone suitable.”

The credit union branch based at The Shores Centre offers residents a range of safe savings and low-cost credit options to help them make the most of their money. Its popular Christmas Saver account offers an ideal way to save up, in small amounts, to avoid a stressful festive season, while credit union loans, available in amounts from £100 to £20,000, offer a responsible form of affordable credit. However, as a volunteer run branch for the past five years, it has only opened on Wednesday mornings. This means that many residents are unable to access its services easily.

Now, thanks to a social investment by Withernsea Big Local, the credit union is looking to expand the opening times of the branch to four half days a week and to employ a Development Officer to work with the local community and form links with other agencies such as the Stop Loan Sharks Team and Citizens Advice, to make more impact. As well as more face-to-face time to help people in branch, the plan is to set up more Pennies2Pounds school banks like the successful one at Roos Primary School, to encourage children to have a healthy attitude to money from an early age. The credit union will recruit more volunteers to get involved with community events and help people to learn to be more money savvy.

The project’s mission is to make Withernsea into a “Credit Union Town”, which they define as a town that says “no” to high cost credit such as doorstep lenders, payday lenders, weekly payment stores and loan sharks, but says “yes” to safe savings, affordable responsible credit and helping everyone to make the most of their money.

Anyone who considers they have the skills, energy and passion needed to help the credit union to achieve its ambitions is encouraged to apply for the role by visiting www.hullandeycu.co.uk for an application form. Applications close on 31 January.

ENDS

2018

Credit Union's Record Year of Lending (Nov 2018)

CREDIT UNION’S RECORD YEAR OF LENDING

Hull and East Yorkshire Credit Union (HEYCU) enjoyed a record year of lending in 2018, according to its annual results announced this week. Its loan book increased by 35% and the average size of loan was up 17% to £1,338, in a year in which adult members and junior savers grew by 7% to 14,376.

HEYCU, which serves a large common bond covering the Humber Region together with selected employers including the DWP, also swung back into profitability in 2018 after two years of losses mainly due to the costs of operating and exiting from the Credit Union Current Account. Interest income for the year was up by 25% and operating expenses reduced by 7%. After accounting for dividends, it was possible to increase the reserves by £73,414.

Members of HEYCU with a £1 share have been invited to attend the AGM in Hull’s prestigious Guildhall on Tuesday 11 December at 5.45 pm to hear how the region’s leading financial services mutual has fared, help to elect the Board of Directors and vote on dividends.

At the start of the financial year, HEYCU began generating electricity at its Brook Street headquarters after investing in a solar panel installation through their partnership with Co-op Energy.

A new payroll partnership with North East Lincolnshire Council was launched in March. HEYCU supported ABCUL’s Work not Worry campaign and ran a Refer a Colleague promotion to highlight the benefits of saving and borrowing through the workplace.

Success was enjoyed with the loan book development programme, with seasonal campaigns – run throughout the year via email, social media and in branch – raising awareness of their competitive offers and encouraging members to explore more of their great value products. Uptake of one of these – the Child Benefit Loan & Savings Plan – tripled, while the Loans Policy was updated to allow members to “top up” their loans more frequently. HEYCU’s new user-friendly website received a 212% increase in traffic.

Through HEYCU’s partnership with the Stop Loan Sharks Team, bonuses were offered to families signing up to save for Christmas at a brand new contact point at Centre4 in Grimsby, and a school bank opened in Barlow near Selby. Members saved a record £806,000 in HEYCU’s popular Christmas Saver account towards a stress-free festive season.

John Smith, HEYCU's Chief Executive, commented: "We have experienced another year of strong growth and the directors are pleased that our finances are on a firm footing, so that we can continue to help people across our diverse common bond to make the most of their money. As we thank all our sponsors, partners and members for their loyalty and support, we are looking ahead with confidence to our 20th anniversary year in 2019.”

ENDS


Notes to Editors

HEYCU’s Annual General Meeting
Information about HEYCU's Annual General Meeting may be found on the website at
https://www.hullandeycu.co.uk/news-events/annual-general-meeting-2018/

About HEYCU
HEYCU was established in 1999 and operates from its Brook Street, Hull headquarters and eight branches in East Yorkshire and Northern Lincolnshire. There are 21 staff and over 80 volunteers. It serves 12,900 Adult members and 1,450 Junior Savers with a combined total of £10 million in savings.

HEYCU is a well governed co-operative business, offering very user-friendly services, and has helped many people to save for the first time. Its website at www.hullandeycu.co.uk has full details..

HEYCU is regulated by the Financial Conduct Authority and Prudential Regulation Authority and members’ deposits are covered by the Financial Services Compensation Scheme. Thus, the first £85,000 of members’ savings is 100% guaranteed.

HEYCU has a five-star Fairbanking Mark for responsible lending.

For more information, please contact:
John Smith, Chief Executive, HEYCU, Tel 07896 267517 or jsmith@hullandeycu.co.uk

Credit Union Welcomes Moves to Cap High Cost Credit (Jun 2018)

CREDIT UNION WELCOMES MOVES TO CAP HIGH COST CREDIT

Hull & East Yorkshire Credit Union (HEYCU), the region’s largest not-for-profit lender, welcomes today’s Financial Conduct Authority (FCA)’s proposals to cap the cost of borrowing from rent-to-own, doorstep and other high cost sources of credit.

The Credit Union, which is a financial co-operative owned and used by over 12,000 members, was formed in 1999 to provide a fair, affordable and responsible savings and loans alternative for people across the Humber Region.

John Smith, HEYCU’s Chief Executive, said:
“We are totally opposed to lenders exploiting consumers by charging exorbitant rates for the credit that people need in order to afford their lives. Leading vulnerable people into unsustainable debt in order to maximise profits for shareholders is not an acceptable practice in today’s society. Credit Unions have had a legal cap on their interest rates since 1979 but because of our not-for-profit ethos, we have no desire to charge more than it costs to run our organisation. Any surplus we do make is returned to our members as a bonus on their savings.

“Last year we were awarded a 5-star Fairbanking Mark by the Fairbanking Foundation in recognition of the efforts we make to support our members’ financial well-being. And in a recent Royal Society for Public Health study, Credit Union loans were found to have the least serious impact on mental health whereas payday loans and unauthorised overdrafts had the worst.”

HEYCU provides over £4 million of consumer credit to its members every year in amounts from £100 to £20,000 and since 1999 reckons to have saved them over £13 million in interest charges compared to what they would have paid by taking similar credit from high cost providers. .

The FCA has outlined a package of plans for rent-to-own, doorstep lending and catalogue shopping and says rent-to-own shops that sell appliances and furniture for small weekly repayments could face a price cap similar to the limits on payday lenders. It has seen examples where people have paid over £1,500 for essentials like an electric cooker which could be bought on the High Street for less than £300. It believes the harm caused in this market, used by three million people in the UK, is sufficient to justify considering a price cap. Any cap would not come into force before April 2019.

To find out more about the local Credit Union, visit their website at hullandeycu.co.uk

ENDS

 

Notes to Editors
For more information, please contact:
John Smith, Chief Executive, NLCU / HEYCU, Tel 07896 267517 or jsmith@hullandeycu.co.uk

About Hull & East Yorkshire Credit Union
HEYCU was established in 1999 by a group of volunteers in Hull and has enjoyed impressive growth.

In 2015 a merger took place with North Lincolnshire Credit Union (NLCU) and the combined organisation now has 12,500 Adult members and 1,500 Junior Savers and looks after a total of £9.5 million in savings. It has made over 50,000 loans to local people, to a total value of some £36 million.

Membership is open to anyone who lives or works in Hull, the East Riding of Yorkshire and Northern Lincolnshire as well as the staff of a major government department, the DWP.

Since inception 19 years ago HEYCU estimate that they have saved the people of the Region at least £13 million in interest charges on loans by giving them access to lower cost credit than can be obtained from doorstep lenders, payday lenders and similar.

We are a successful co-operative business, offering very user-friendly services, and have helped many people to save for the first time. Our website at www.hullandeycu.co.uk has full details. Members can also use the site to check their accounts at any time with a secret PIN. We are also on Facebook and Twitter. We are one of a small number of UK financial services providers to be awarded a 5-star Fairbanking Mark for helping to improve people’s financial well-being.


Financial Conduct Authority news release 31 May 2018
https://www.fca.org.uk/news/press-releases/fca-publishes-outcome-high-cost-credit-review

Royal Society for Public Health Report – Life on Debt Row
https://www.rsph.org.uk/our-work/policy/wellbeing/life-on-debt-row.html

The Driffield branch of HEYCU bids a fond farewell to two long serving volunteers (May 2018)

THE DRIFFIELD BRANCH OF HEYCU BIDS A FOND FAREWELL TO TWO LONG SERVING VOLUNTEERS

The Driffield branch of Hull and East Yorkshire Credit Union (HEYCU) said a fond farewell to two of its longest serving volunteers at a special retirement lunch held at the Original Keys in Driffield. Edwin King and Billy Briggs joined the Driffield branch of the Credit Union shortly after its opening in 2005, and their enthusiasm, dedication, and commitment over the years has undoubtedly been a major factor in its growth and development within the town. HEYCU’s Chief Executive, John Smith thanked them on behalf of the directors, staff and members, emphasising the considerable contribution volunteers like Edwin and Billy make to the continuation and success of the Credit Union in branches such as Driffeld. To mark the occasion gifts of appreciation from both the Credit Union board and the Driffield branch were then presented to both volunteers.

ENDS

The Driffeld Branch of HEYCU is located within the Town Council Offices in Market Walk and is open on Wednesdays 11am -12.30pm and Thursdays 10am -12 noon. We are a not-for-profit financial co-operative serving the people of Hull, East Yorkshire and Northern Lincolnshire with fair and responsible savings and loans. Our aim is to improve the financial well-being of our member-owners by providing ethical, affordable services such as Savings accounts (our Christmas Saver is particularly popular with our Driffield members), along with loans to match different needs and budgets. These include a Swap and Drop loan; Child Benefit Loan and Savings plan, and Matched Loans, as well as our low rate general Credit Union Loan. We’ve recently become one of only a handful of UK financial providers to be awarded a ‘Fairbanking Mark’ recognising our different approach to lending.

For further details on any of the above either visit our website www.hullandeycu.co.uk or pop in and see us at our Driffield branch.

Council Staff Benefit from New Credit Union Services (Mar 2018)

COUNCIL STAFF BENEFIT FROM NEW CREDIT UNION SERVICES

Northern Lincolnshire Credit Union (NLCU), part of the region’s largest not-for-profit financial services organisation, has teamed up with North East Lincolnshire Council to offer the Council’s employees a simple way to make the most of their money.

With the Credit Union’s payroll partnership scheme, employees can save as they earn, with all payments taken care of effortlessly straight from their pay packet. It’s a safe and flexible way to put some money aside and to know that it’s there for sunny holidays or rainy days.

The agreed payroll deductions are transferred to one or more Credit Union savings accounts, where the member’s money is completely safe as it is covered by the Financial Services Compensation Scheme.

The Credit Union has arranged special sign up events at the Municipal Offices, Grimsby and the Civic Centre, Cleethorpes to explain to staff how it works and enroll new members. Any employee joining during March, April and May will be entered in a draw to win a £50 gift voucher.

Councillor Matthew Patrick, Portfolio Holder for Finance, Community Assets, Governance and Tourism at North East Lincolnshire Council, said:
“The credit union offers an ethical, not for profit service that helps you take control of your money, budget for your bills and plan for the future.
“It’s owned by its 12,000 members and was recently awarded the FairBanking Mark in recognition of its approach to lending.
“We’re pleased to be working with them in offering our staff this extra benefit through the payroll partnership scheme.”

John Smith NLCU's Chief Executive, said: 
"We offer our members a range of ways to make the most of their money, including a children’s savings account, a Christmas Saver and affordable loans from £100 upwards. When you save by payroll deduction it’s surprising how quickly your savings mount up because it’s all done automatically each time you are paid."

North East Lincolnshire Council is one of a growing band of employers across the region whose staff can now join a Credit Union payroll saving scheme. To find out more, visit the Credit Union’s website at hullandeycu.co.uk or telephone them on 01482 778753.

ENDS


Notes to Editors

For more information, please contact:
John Smith, Chief Executive, NLCU / HEYCU, Tel 07896 267517 or jsmith@hullandeycu.co.uk

About Northern Lincolnshire Credit Union (part of Hull & East Yorkshire Credit Union)

NLCU was established in 1999 by a group of volunteers in North Lincolnshire and has enjoyed impressive growth.

In 2015 NLCU and Hull & East Yorkshire Credit Union (HEYCU) merged to provide a service for the whole of the Humber Region. The combined business now has 12.500 Adult members and 1,500 Junior Savers and looks after a total of £9.5 million in savings. It has made over 50,000 loans to local people, to a total value of some £35 million.

Membership is open to anyone who lives or works in Hull, the East Riding of Yorkshire and Northern Lincolnshire as well as the staff of a major government department, the DWP.

Since inception 18 years ago NLCU/HEYCU estimate that they have saved the people of the Region at least £13 million in interest charges on loans by giving them access to lower cost credit than can be obtained from doorstep lenders, payday lenders and similar.

We are a successful co-operative business, offering very user-friendly services, and have helped many people to save for the first time. Our website at www.hullandeycu.co.uk has full details. Members can also use the site to check their accounts at any time with a secret PIN. We are also on Facebook and Twitter. We are one of a small number of UK financial services providers to be awarded a 5-star Fairbanking Mark for helping to improve people’s financial well-being.

Centre4 Launch New Savings Club to help residents plan ahead for a stress free Christmas (Feb 2018)

CENTRE4 LAUNCH NEW SAVINGS CLUB TO HELP RESIDENTS PLAN AHEAD FOR A STRESS FREE CHRISTMAS

Centre4 are excited to announce the launch of a Christmas Savings Club in partnership with Northern Lincolnshire Credit Union (now part of Hull and East Yorkshire Credit Union).

The service will be available from Centre4 Community Hub and will aim to help people save small amounts of cash at a convenient time. Being a member of a Credit Union provides access to a range of other products and can be a welcome alternative to payday loans, doorstep lenders and even illegal money lenders operating across North East Lincolnshire.

Linda Dellow, Chief Officer at Centre4 said, “We are delighted to offer a Christmas Savings Club from Centre4. We fully understand the financial pressures facing some people and how difficult it can be to budget from week to week, never mind keeping money back for Christmas. A Christmas Savings Club can help people put small amounts of money away on a regular basis and give them access to a savings fund at what is always an expensive time of year”.

Linda has operated a Mutual Aid scheme for users of Centre4 for many years and the partnership with the Credit Union will provide members with access to the full range of products and services available from the Credit Union, including savings and competitive loans. To launch the Christmas Savings Club, a £10 bonus is available for a limited time to anyone signing up to open an account. The bonus is being provided in partnership with the Stop Loan Sharks initiative as a further incentive for people to develop a savings habit and keep away from high cost high risk lending.

The Christmas Savings Club incentive is being funded using proceeds of crime money; cash that has been seized from loan sharks under money laundering laws.

Tony Quigley, Head of the Illegal Money Lending Team, said:
“We’re pleased to be working with Centre4 and Northern Lincolnshire Credit Union to launch this new incentive, which will see loan sharks’ cash being put to good use, to sponsor new Christmas savings accounts. 
“Loan sharks prey on the most vulnerable members of our communities and extort them out of hard earned cash. If you have fallen victim to an illegal money lender, we urge you to contact us on 0300 555 2222 or www.stoploansharks.uk. We will take information anonymously and in confidence.”

The Chief Executive of Northern Lincolnshire Credit Union John Smith, said he is thrilled with the developing partnership and with the opportunity to extend Credit Union services to anyone in North East Lincolnshire. John said, “We are making it easy to open a Christmas Saver account with CU@Centre4 and develop our Credit Union support to people in North East Lincolnshire. Our account is really popular with our members because you can save as much or as little as you like, knowing that they money is safely locked away until the festive season.”

The Christmas Savings Club will be launched at Centre4 on Friday 23 February from 1.00 pm.

If you are interested in opening a Christmas Saver account you can contact Centre4 on 01472-236688 or email Centre4 at: enquiries@centre4.org.uk

Further information about Northern Lincolnshire Credit Union can be found on their website at: https://www.hullandeycu.co.uk/

ENDS

Renewable Energy Powers New Partnership in Yorkshire (Feb 2018)

RENEWABLE ENERGY POWERS NEW PARTNERSHIP IN YORKSHIRE

A Hull financial co-operative is celebrating its new energy efficient status after installing solar panels, LED lighting and internal insulation as part of a new energy saving partnership with Co-op Energy.

The 12,000 member Hull & East Yorkshire Credit Union, based on Brook Street in Hull city centre, now boasts 22 solar panels on its roof, along with new LED lighting and internal insulation in its offices, provided by Co-operative Energy Saving.

Each solar twin peak panel has the capacity to produce up to 265w, meaning the new installation could create nearly 5,000kWh a year, saving up to £800 per annum.

The Co-operative Energy Saving initiative by Co-op Energy aims to help combat climate change by helping individuals, community groups and small businesses to reduce their energy consumption and bills.

John Smith, CEO of Hull & East Yorkshire Credit Union, said: “The energy savings scheme is a fantastic initiative and made us realise that, even as a relatively small organisation, we can play an important part in tackling climate change. It is an issue that our member-owners are very passionate about.

“We’re very grateful to Co-op Energy for their support in helping us make these changes to how we operate and enabling us to reduce our energy consumption.”

Martin Cook, Affiliates Manager at Co-op Energy, said: “One of our main goals as a co-operative is to help create a more environmentally-friendly and sustainable world, and working closely with like-minded individuals, communities and organisations is an essential part of this.

“Our project with the Hull & East Yorkshire Credit Union, as well as the many more we support across the UK, show what can be achieved when we work collaboratively to help shape the future of energy generation.”

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New President and Directors at the Credit Union (Jan 2018)

NEW PRESIDENT AND DIRECTORS AT THE CREDIT UNION

Hull and East Yorkshire Credit Union (HEYCU), the region's leading not-for-profit financial services organisation, has elected a new President and two new Directors.

Taking over as President for the next two years is Andy Stankard. Andy has been a non–executive director of HEYCU for ten years and its Vice President since 2014. He works for Hull City Council supporting the Council’s Cabinet and Leader of the Council. He is also the Branch Chair of Hull City Branch of UNISON and a former President of the Hull and East Yorkshire Trade Union Council, Secretary of the Hull and District Co-operative Members Branch and a school governor.

Andy, who takes over the role from the previous President, Alan Hignett, said: “I am honoured to be elected President at an important time in the organisation’s development. We recently celebrated the 18th anniversary of our foundation in Hull, and have seen it grow steadily into one of the country’s largest credit unions, serving over 14,000 people across the Humber Region and beyond, and looking after members’ assets of £11 million.

“During the coming years we have exciting plans to use the latest technology to make it easier for our members to access and transact with us, wherever they live or work, but without losing the friendly personal touch for which we are so well known.

“We are determined to live up to our co-operative values, keep our branch presence in the local communities we serve, and make sure that our not-for-profit approach to financial services can be enjoyed by future generations as well as today’s members.”

The Credit Union President’s role is to chair and lead the Board of Directors, to make sure good decisions are made about future plans, and to support and challenge the Chief Executive who manages the day to day operations of the business. Under the Credit Union Rules, a President can serve for up to four years.

At the recent AGM, the members also voted in two new directors:

Altynay Guney works in a Customer Experience Team. She speaks four languages and has set up Cosmo Solutions community organisation to provide the Eastern Europeans living in the Humber Region with support services including employment, financial, language and welfare. She recruited a team of dedicated volunteers and freelance English language tutors to help deliver projects. Altynay is also a director of the Goodwin Development Trust.

Joanne Foster has many years’ experience in financial services and banking, as well as working for leading social housing providers, meeting regulatory, risk and compliance requirements.

Joanne served as a DWP Financial Inclusion Champion and is currently a social housing and welfare reform consultant. She lives at Market Weighton in the East Riding of Yorkshire.

As a co-operative organisation, owned and run by its member-customers, HEYCU has an entirely non-executive board of twelve volunteer directors, whose role is to decide the policy and direction for the business.

HEYCU's chief executive, John Smith, who works closely with the board, commented: "Our President and directors are all passionate about the values and principles of the credit union movement. We are delighted to welcome our new colleagues who have come forward to give their time and skills to help us to become even more successful in the years ahead."

HEYCU was established in 1999 and its headquarters are at 38 Brook Street in Hull city centre. To find out more visit www.hullandeycu.co.uk

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© Hull & East Yorkshire Credit Union | Registered under the Credit Union Act 1979 and the Co-operative and Community Benefit Societies Act 2014. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Our FRN is 213620.