Transcript Credit Union Services For Preston

CREDIT UNION SERVICES &
FINANCIAL INCLUSION
INTERNATIONAL
Active credit union sectors in 103 countries with almost 57,000
credit unions
•More than 208 million credit union members
•Assets of almost $1.7 trillion
•Loans of almost $1.1 trillion
•Deposits of almost $1.4 trillion
PENETRATION
High penetration rates in many developed countries:
46% in USA
43% in Canada
75% in Ireland
30% in Australia
2% in Great Britain
A long way to go!
UNITED KINGDOM
Around 375 credit unions across England, Scotland and Wales
employing more than 1,500 staff
1,122,461 people using the sector, including 126,217 junior
depositors
Total assets of £1.13 billion
Total loans of £676 million
Total deposits of £949 million
Annual turnover of £91 million (year to 30 September 2013)
GROWTH
In the year to December 2013, the sector grew:
Membership by 9%
Assets by 15%
Loans by 7%
Deposits by 17%
NATIONAL FOCUS
National Feasibility Study
Treasury investment through DWP
Credit Union expansion Project
Transformation
WHERE DO CREDIT UNIONS FIT IN?
Offering access to easy savings accounts
Affordable Credit
Not-for-profit
Motivation is member service, not shareholder profits or
bonuses
Financial services without the greed
WHAT CREDIT UNIONS ARE NOT
The panacea for all financial problems
The answer for those drowning in debt
A competitor to payday lenders
Lenders to those who have nothing
The poor man’s bank
CREDIT UNION IN PRESTON
Preston Council Identified working partner
Service Level Agreement and growth plan in place
Payroll Savings & Loans for Preston Council Staff launched
Preston council to become 1st corporate member
Building of partnerships with other large employers
Expansion into wider community.
WHO ARE WE?
Blackpool Fylde & Wyre Credit Union Limited
Launched in 2009
5000 sign-ups
£3 Million in savings
Issued £5.8 Million
Interest savings of £3.5 Million*
* Based on average loan value compared with leading doorstep lender
WHAT WE DO?
Easy access savings accounts
Xmas savings accounts
Loans from £200 to £15,000
Free life protection on savings and loans*
Member of ABCUL
Part of the Credit Union Expansion Project
*age and value limits apply
MEMBER INTERACTION
Back Office Operation
Telephone, text, fax, email, web site, mobile.
Savings through Payroll, Direct Debit, Standing Order, Bank
Transfer, Debit Card, Benefits or in cash at any post office or
PayPoint store.
Web site for balances, loan applications and for withdrawals
or paying bills.
Cash-free, electronic operations
First public branch launching in Blackpool
THE FUTURE
Improved access
Developing quality products and services
Increased automation
Easy self-servicing
Sustainability into the future
Access for the many, not the few
CONTACT
Mike Barry
CEO
Guild Money
13 Birley Street
Blackpool
Lancashire
FY1 1EG
Tel: 01253 478911
email: [email protected]
Guild Money is a registered trading name of Blackpool Fylde & Wyre Credit Union Limited, Authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority Firm
Reference No: 478917 Co-operative No: 742c