Tel: 0141 445 0022 Fax: 0141 440 2294
Wages protection ... FREE for 3 months
There's no denying that times are tough just now for many families - and uncertainty over job security can be an added nightmare.
Your credit union can help with your finances - and for a limited time only, members can take advantage of a special wages protection deal on offer through CUNA Mutual.
We've arranged cover that will pay £400 per month, for up to three months, if you can't work due to an accident. And the best news of all is that this deal is FREE.
Click on the link below to find out all the details - but don't delay as the offer is only available until March 31.
Always glad to help
The staff of the NHS Credit Union always try to go that extra mile to help members. And the following testimonial suggests those efforts are appreciated.
We received this email from member Julie King at the Golden Jubilee National Hospital.. She phoned us at the end of one week and posted the relevant loan forms back to us on the Saturday. The money she sought was in her bank on the Tuesday.
Julie wrote: I don’t have my membership number with me today but just wanted to drop you a note to thank you for the fantastic service I have received in topping up my loan. That is excellent customer service.
Thanks for taking the time to write Julie - We're happy to make you feel part of the family.
It’s dividend time at your NHS Credit Union
Dividend rates have just been announced following the Annual General Meeting of the Credit Union.
The good news is that all adult members will receive 1.1% dividend on their savings for the period October 2010 to September 2011.
The dividend amounts have now been paid into members` accounts - check your balance on-line to see how much you received!
Focus firmly on Credit Unions
Changes in financial legislation, and the continuing controversy over interest rates charged by some firms offering “payday loans”, are putting credit unions firmly in the public spotlight.
A major campaign is already underway to protect families from unscrupulous payday lenders.
Robert Kelly, General Manager of your NHS Credit Union, said: “There are people being drawn into unmanageable levels of debt. We could help them avoid such problems in the first place by making it easier for them to manage their finances.”
Mr Kelly’s comments followed the Annual General Meeting of the Manchester-based Co-operative Credit Union, where the group’s Chair, David Dickman, said: “The Government should feel very uneasy about the numbers of payday lending shops now appearing on our High Streets. These outfits are seldom a solution to money problems and can be brutal in their interest charges and fees.”
Mr Dickman added that interest rates for such short-term loans could reach 4000% APR.
The Co-operative CU wants the Government to limit the amount that can be lent by a payday lender to one person during a given period; restrict a borrower to one payday loan at a time - and limit the penalty charges defaulters can be charged by payday lending companies.
Backing the calls for greater protection, Robert Kelly said: “It’s been another record-breaking year for our credit union, with more than 1500 new members registered since October 2010 from all over Scotland and the North of England.
“These members can take advantage of a variety of ethical loans and saving schemes. Changes to regulations governing credit unions will also offer new opportunities to develop more services to benefit our members.
“The message we would put out is that there is an alternative to punitive loan charges. This is an exciting time to be part of the NHS Credit Union. I want to thank existing members for their commitment in the past - and we look forward to welcoming many more members into our family.”
The campaign against unscrupulous lenders comes at the same time as major changes to the rules governing credit union services.
That combination has sparked considerable media interest, with items appearing in among other newspapers, the Scotsman, the Sun and the Evening Times.
There has also been coverage on ITV’s Daybreak programme, ITV Wales - and numerous financial publications.
The links below give you a flavour of the debate.
Why not check them out and then share your thoughts with us via our facebook link
http://www.itv.com/daybreak/money/phil-reay-smith-consumer-advice/credit-union-legislation-2012/
http://www.thesun.co.uk/sol/homepage/news/money/city/4036188/More-borrowers-can-join-in-Union.html
http://www.itv.com/wales/credit-unions-to-be-made-more-widely-available03177/
http://www.civilsociety.co.uk/finance/news/content/11220/government_changes_law_to_allow_chariites_to_join_credit_unions
http://www.communitymatters.org.uk/news/506/New-credit-union-powers-set-to-benefit-community-groups-charities-and-social-enterprises
http://www.eveningtimes.co.uk/news/fears-over-payday-loans-for-rent-costs-1.1142285
It’s never too early to plan for Christmas
If you are still feeling the pinch after the chaos of Christmas, then December 25, 2012 is probably the last thing on your mind. It might not immediately appear obvious right now, however, but this is the perfect time to start thinking about it!
Every year Christmas comes on exactly the same day - and every year without fail many of us leave buying everything until the last minute - and then panic about where the money will come from to pay for it all.
We can't cut the cost of Christmas for you, but your NHS Credit Union can lighten the load in another way, with our Christmas Savings Club!
Saving with the Christmas Club means you can focus less on how you're going to pay for all your festive goodies and more on how much you're going to enjoy a debt-free Christmas in 2012 with the people you love most. After all Christmas is all about family, and everyone wants the best for those special people in their lives.
You can either allocate a portion of your current deduction, or increase your deduction to cover the amount you want to go towards a special Christmas Saving Club.
Putting a small amount aside each payday soon adds up. Just think how handy it would be to have an extra £220 to go towards Christmas. By saving only £20 a month between now and November that could be the case!
The money is safely put aside, ready for you to withdraw during the period from October- January! Any withdrawals outwith this time will incur a £5 charge to deter you from dipping into your Christmas Savings Pot.
If you are an existing member and would like to save with our Christmas Club, download the application form below.
If you would like to join the Credit Union and take advantage of all the benefits on offer - including the Christmas Club - telephone the office today on 0141 445 0022.
Christmas Club Application Form
Take care of the £s you don’t want to shed
One of the favourite New Year resolutions you hear at this time is to shed some of the excess weight piled on over the Christmas period. That's all very well, but what about those other pounds ... the ones that have taken a battering in your purse or pocket?
Your Credit Union can't help with the effects of too much Christmas pudding, but we can help get your finances back on track. We've teamed up with the Money Advice Service to offer free, impartial advice that could benefit everyone. Just click on the link below to access a range of tools designed to help ensure you get the best out of your hard-earned cash.
Start by taking the financial health check ... it could be the first step to putting your money on a sounder footing in 2012.
Credit Union member Anthony Butler did just that - and here’s what he had to say about the outcome:
“I saw the Health Check on the NHS Credit Union website and thought I would give it a go to get some free financial advice. It was very straightforward and simple to use.
“I’d definitely recommend the Money Advice Service to friends and family. It is simple to use, free and I would highly recommend the downloadable report.”
Check your financial health (328.7kb)
Protect your hard-earned cash
You never know what's around the corner, but you can take steps to protect your income from accident, sickness or loss of job. Income Protection is designed to cover a proportion of your income in the event that you are off work through accident, sickness or involuntary unemployment.
To find out more, click on the image below
