Christmas and New Year Office Hours

Please note that over the festive period, our office opening times will be reduced as follows:

  • Wed 19th December – Early Closing 12:30pm
  • Mon 24th December   – Early Closing 12 noon.
  • Christmas Day and Boxing day (25th,26th Dec) Closed
  • Thursday 27th Dec  – Early Closing 12 noon.
  • Friday 28th Dec – Early Closing 12 noon.
  • Monday 31st Dec – Early Closing 12 noon.
  • New Years Day (1st Jan) – Closed

Normal hours resume from Wednesday 2nd Jan.

Christmas Raffle Winner

Solent Credit Union’s first free Christmas raffle for members, was won by long-standing member Della Jones who was delighted to be the lucky recipient, following the draw. Our office manager, Jo (pictured left), was pleased to deliver her luxury hamper with all good wishes for Christmas from the Credit Union.

#WishYouWereSaving

Why should I save? And why with Solent Credit Union?

Saving is easy and simple. It doesn’t need to be large amounts or that often it just needs to be on a regular basis, and an amount that suits you. Set yourself goals that do not cost the earth, for example you could save anything from £5.00 to £25.00 per week, or more if you wish. As the weeks go past the amounts that you save will begin to pile up and towards the end of the year you can put the money you have saved towards an emergency stash. This may prove handy in the case of an unexpected bill or breakage. If you have any extra money on top of your emergency stash you can then use that extra money to save up for a birthday, holiday or special occasion.

 

But why Solent Credit Union (SCU)?

Solent Credit Union is a co-operative bank. This means that SCU is democratically ‘owned’ and ‘operated’ its members, you (if you are or choose to become a member). Any surpluses the bank makes in a financial year are equally shared and given back to the members. So how do I ‘own’ and ‘operate’ SCU? You pay a small joining fee of £5.00 when you become a member. This then allows you to vote for the directors you want to run SCU.

 

I (PO) have interviewed the Manager at Front of House and a volunteer at Solent Credit Union. They give tips below on how to save and why it’s an important thing to consider doing.

Interview with Manager at Front of House (FOH):

PO: Could you quickly introduce yourself stating what you do at Solent Credit Union?

FOH: My name is Jo and my role is Manager at the Front of House.

PO: When did you first join Solent Credit Union?

FOH: Three years ago.

PO: Why did you join Solent Credit Union?

FOH: Two things caused me to join Solent Credit Union, the first being my mum. She is with London Credit Union and loves credit unions. The second thing being that I was studying an AAT course.

PO: What do you love about saving?

FOH: You can build up a contingency fund and build up savings.

PO: Can you recommend any saving tips? And, how did they help you?

FOH: Save a small amount each week or have a standing order and you will be surprised at the end investment.

 

Interview with a current volunteer at Solent Credit Union (V):

PO: Could you quickly introduce yourself stating what you do at Solent Credit Union?

V: My name is Gordon and I have been a volunteer at the Solent Credit Union for 4 ½ years. I come in one day a week and I do a variety of things such as looking at loans and website solutions.

PO: When did you first join Solent Credit Union?

V: In June 2014

PO: Why did you join Solent Credit Union?

V: I joined to volunteer. The previous summer (2013) the Archbishop of Canterbury wanted to put Wonga out of business, because it had highly unfair charges. It took about another year before I got involved after talking to someone who volunteered at Solent Credit Union.

PO: What do you love about saving?

V: What I love most about saving is that it will usually work out cheaper to save up and buy something rather than paying for something monthly. A good example is mobile phones. Having saved and bought a handset, my bill is only £7.50 per month, but would be at least £20.00 if the handset was included. Over a 24 month contract that would be £300.00 which is probably about twice what I paid for my phone!

PO: Can you recommend any saving tips?

V: Look for a better value for money, shop around and you can often find things much cheaper than what you are paying for at the moment. Then you have extra money available that you can save each month!

To summarise you can set aside small amount of cash each week and shop around to get the best deals to lower your spending costs and increase the amount you save each week. With your cash that you do save why not open a savings account with us to make sure it all stays safe and in one place? You can do this online or pop in store!

Have you got more saving tips to share?

Please email pressofficer@solentcreditunion.co.uk with your tips!

Don’t forget to follow us on Twitter @SolentCreditU and like us on Facebook @joinSCU for more news about SCU and our upcoming campaign!

 

Christmas Raffle

Welcome to this year’s FREE members only raffle from your credit union for a luxury hamper and other prizes! The lucky winners will be drawn at random in the office on the 14th December and will be notified by phone that day so make sure we have your up-to-date phone number.”
Open to savers and borrowers. Loan repayments must be up to date

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Someone Out There Loves the Credit Union

The 2018 Budget includes a number of packages directed at supporting and promoting the role and work of the Credit Union movement in the Community.

https://www.gov.uk/government/topical-events/budget-2018

The measures include:

Prized-linked savings scheme pilot for credit unions

Government has announced that it will launch a pilot of a new prize-linked savings scheme for credit unions to boost peoples’ financial resilience through encouraging saving and to raise awareness of the credit union sector.

No-interest loans scheme pilot

For some people, even borrowing from social and community lenders can be unaffordable. Therefore, the government, working with leading debt charities and the banking industry, will launch a feasibility study to help to design a pilot for a no-interest loans scheme early next year.

Dormant assets fund to target access to affordable credit

In August 2018, the government announced that a new independent body would be established to promote financial inclusion. It will be responsible for deploying an initial £55 million of funding from dormant bank accounts, primarily to address the problem of access to affordable credit.

Affordable Credit Challenge Fund

The government will provide £2 million to launch a challenge fund to promote innovative technological solutions that will harness the power of the UK’s world-leading Fintech industry to support social and community lenders.

Breathing space for people in debt

Following the Financial Guidance and Claims Act 2018, the Budget announces a consultation on a breathing space scheme for people in problem debt. The scheme will introduce a 60-day period of protection from creditor action to recover debts to help people make plans to pay back their debts in a sustainable way.

Allow Regulated Social Landlords (RSLs) to refer to sources of affordable credit

The government will simplify regulation to make it easier for RSLs to direct tenants to alternatives to high-cost credit.

The announcements bring long-overdue recognition of the work of the credit union sector within the community at large. The Credit Union’s main trade association ABCUL welcomes the schemes and is consulting with government and its member credit unions about their implementation.

http://www.abcul.org/home

Grant for Solent Credit Union

Solent Credit Union is delighted to announce that it has been awarded a Grant of £4,723 from the Unity Trust Bank Credit Union Development Fund (CUDF) to develop digital marketing and its website.

Further details are contained in our Press Release.

2018 AGM Minutes

The minutes of the Annual General Meeting (AGM) which was held on 28th June are now available along with other papers from the meeting.

 

Solent Credit Union AGM

The Annual General Meeting of Solent Credit Union will be held on Thursday 28th June 2018 from 20:00 until 21:00 at Avenue St. Andrew’s United Reformed Church, The Avenue, Southampton SO17 1XQ.

The minutes of last year’s meeting can be found by clicking on this link:

Do we have your e-mail address?

There are a number of our members for whom we have no record of an e-mail address.

Unfortunately the lack of e-mail addresses can result in extra expense because when we need to contact those members, for example to send out the notice of our Annual General Meeting, we have to send a letter in the post.

We would like to thank all those members (over 90%) who have already supplied us with their e-mail address, but would also like to request e-mail addresses from those members who have not yet supplied them.

We will be sending some text messages to members requesting e-mail addresses, and we would be extremely grateful for a reply. You can phone or text 023 8000 2018 or reply by email to enquiries@solentcreditunion.co.uk.

New Phone Number 023 8000 2018

Solent Credit Union has a new phone number.
We hope that the new number will be easy to remember (at least for the rest of this year!).
Don’t worry if you are still using the old number, it will continue to work for the foreseeable future.

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